Market Overview
According to Market Research Future (MRFR), the Data Center Construction Market will grow at a CAGR of 13.51 per cent between 2020 and 2030. (forecast period). The vast amount of data used each day, combined with the rapid expansion of data centre facilities, is likely to drive market demand over the projection period. The rapid increase in the usage of IoT devices may have a beneficial impact on market growth. In the future years, the Data Center Construction Market is likely to benefit from increased demand for energy-efficient data centres. This, in turn, is likely to increase demand for low-heat building materials. Green strategies, such as garbage reuse and evaporative cooling, are anticipated to assist this trend.
Furthermore, the market is being driven by the implementation of a software-defined data centre in healthcare. Medical spending rises year after year, and the cost of optimization from the customer's standpoint is also being considered. According to the Institute for Health Metrics and Evaluation, healthcare spending is anticipated to reach USD 18.28 trillion by 2040, with high-income countries paying roughly USD 9,019 per person.
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Market Segmentation
The Global Data Center Construction Market has been divided into three categories: design type, Tier type, and Verticals.
The global data centre construction industry has been divided into two design types: electrical construction and mechanical construction.
The worldwide data centre construction market has been divided into four tiers: Tier 1, Tier 2, Tier 3, and Tier 4.
The worldwide data centre building market has been divided into five verticals: BFSI, IT & Telecommunication, Media & Entertainment, Oil & Energy, and Public Sector.
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Regional Classification
North America dominated the data centre building market in 2019, with a revenue share of more than 40.0 per cent, followed by the Asia Pacific. The significant revenue share of North America can be attributable to strong investment in hyperscale enterprises. The United States is a mature economy with a well-established, modern network infrastructure. It also serves as a hub for major cloud service providers such as Amazon.com, Google, Inc., and Facebook. These companies are investing in the building of mega facilities to increase data storage and processing capacity, hence enabling corporate growth.
Furthermore, the rising demand for Unified Communications-as-a-Service (UCaaS) solutions from North American telecommunications and business technology resellers helps to market expansion. SkySwitch, for example, offers white-label UCaaS from geographically diversified sites to MSPs, VARs, ISPs, and interconnects to maximise system reliability.
Industry News
The data centre construction market is highly fragmented, with multiple significant competitors. With technology improvements and product breakthroughs, many companies are extending their market presence by gaining new contracts and entering new areas that cater to fierce competition. IBM Corporation, SAS Institute Inc., and others are key participants. NTT Ltd. announced the launch of Global Data Center Interconnect (GDCI), an integrated global network fabric service that provides private and secure connections between NTT's global data centres and major cloud service providers via a single physical port that supports multiple virtual network services, on June 20, 2021.
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About Market Research Future® (Part of WantStats Research and Media Pvt. Ltd.) has specialized research analysts in the areas of Aerospace & Defense, Automotive, C&M, Energy & Power, F&B, Healthcare & Pharmaceutical, ICT, Industrial Equipment, Packaging Construction & Mining and Semiconductor.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and about what action to take based on these aspects.
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