Market Overview:
Data centers are facilities that house hundreds or thousands of servers and other IT equipment. They require specialized construction and building features to house, cool, and provide power to computer systems and associated components. This includes items like air handling units, power distribution units, fire suppression systems, raised flooring, and access control systems. The growing demand for cloud computing and data storage services is driving significant investment in new data center construction projects.
Market key trends:
One of the key trends in the data center construction market is the growing development of hyperscale data centers. Hyperscale data centers are massive in size, typically over 100,000 square feet, and are designed and built specifically for cloud computing and content delivery applications. Hyperscale operators like Amazon Web Services, Microsoft, Google, and Facebook have been spearheading massive investments in new data center campuses around the world. Their demand for customized, energy-efficient mega data centers is fueling significant business opportunities for specialist construction contractors. The hyperscale segment is expected to account for over 35% of the total data center construction market by 2028.
The global Data Center Construction Market Size is estimated to be valued at US$ 62586.47 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis
The global data center construction market is segmented by electrical infrastructure, mechanical infrastructure, general construction, and tier standards. The mechanical infrastructure segment is expected to dominate the market owing to high adoption of cooling systems like HVAC systems in data centers. Mechanical infrastructure involves key components like cooling systems that play an essential role in the functioning of data centers as excess heat generated from servers needs to be managed efficiently. Hence, companies spend majorly on installing effective cooling solutions.
Key Takeaways
The global data center construction market is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing digitization and adoption of cloud-based services across organizations.
Regional analysis
North America is anticipated to dominate the market owing to heavy investments by technology giants like Amazon Web Services, Microsoft, Google, and IBM in the construction and modernization of data centers in the US and Canada. The region also has strong government backing for cloud adoption and infrastructure development.
Key players
Key players operating in the data center construction market are DPR Construction, Inc., Turner Construction Co., Holder Construction Company, Hensel Phelps Construction Co, Balfour Beatty US, Helix Electric, Sudlows, Kraus Anderson Construction, The Beck Group, PCL Construction Enterprises, The Walsh Group, Hill International, and Engineered Structures, Inc. (ESI). DPR Construction dominates the market owing to its expertise in data center construction and energy-efficient design & commissioning services for hyperscale data centers.
Data Center Construction MarketThe global data center construction market is estimated to demonstrate 9.04% CAGR during the forecast period (2018–2023) owing to the emergence of data center facilities, asserts Market Research Future (MRFR).
Data center can be referred to as a group of networked computer servers which are generally used by the organizations for processing, remote storage, and distribution of a large amount of data.
Data center construction incorporates a collection of processes which is used for constructing data centers.
Data center construction also provides several benefits such as high-speed data transfer, low latency, and work in near real time.
Moreover, with the advancements in technology along with software applications, the market is estimated to expand in the coming years.
The finance & banking sector is considered one of the largest generators of data.
Market OverviewThe data center is a combination of servers for distribution & collection and storage of data.
Data center construction is carried by keeping several points into consideration like storage, location, and others that play a major role in the efficiency of the data center.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/5809The demand for data centers with high efficiency is on high-rise, which has increased the usage of solar and wind energy.
The rapid rise in demand for large data storage facilities with cloud-based services has provided the major growth to this market and is growing at considerable speeds.
The companies are readily investing in research & development programs to unfold the new aspects, imposing an extra load on the market and will help the market gain accelerated speeds.Apart from the uses and features, the Data Center Construction Market faces challenges from high investment costs involved, which has restrained the global market growth.
This report offers a complete outlook on the opposition, opportunities, drivers & restraints, and other factors affecting the neighborhood and global data center construction marketplace.
The worldwide market is anticipated to sign in approximately 09 % annual growth in this era.Industry NewsThe global data center construction market is growing at considerable speeds due to a rise in demands for fast data processing units and a rapid rise in digitalization.
