The global data center construction market was valued at US$ 50,520.5 Million in 2020 and is expected to surpass US$ 95,388.9 Million by 2028, exhibiting a CAGR of 7.4% during the forecast period (2021-2028), according to the Global Data Center Construction Market Report, by Construction Type (Electrical Construction, Mechanical Construction, and General Construction), by Enterprise Size (Small & Medium Enterprises and Large Enterprises), by Tier Standards (Tier 1 & Tier 2, Tier 3, and Tier 4), by End Use Industry (BFSI, IT & Telecom, Defense & Government, Education, Healthcare, Utilities, Power & Energy, Media & Entertainment, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa), published by Coherent Market Insights.
In 2018, data center construction market generated revenue of US$ 42,320.6 Mn and is expected to reach US$ 86,872.3 Mn by 2027, exhibiting a CAGR of 7.4% over the forecast period from 2021 to 2028
The data center operators with standardized supply chains, with uniform build processes, using prefabricated components and with supplier contracts already in place will be best positioned to withstand temporary disruptions.
Global Data Center Construction Market - Impact of Coronavirus (Covid-19) Pandemic
- Increase in demand for remote working, rise in media consumption, increased volume of data due to video conferencing, audio & video streaming, e-learning & gaming, etc. are the factors that created a huge demand for data centers.
- Automation of data center operations leads to no human intervention for monitoring of data center infrastructure and operations. Due to current COVID-19 crises, data center operators and owners are focusing on full automation of data centers.
- The current COVID-19 outbreak will create many growth opportunities for data center construction providers and operators, however, there will be still some challenges such as delays in new data center construction and lack of data center equipment due to supply chain shortages. These challenges will have a low impact on the growth of the data center construction market.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/data-center-construction-market-4872
Key Trends and Analysis of the Global Data Center Construction Market:
- North America dominated the data center construction market in 2019, owing to increase in investments by players to build data center facilities in several cities of the U.S. and rise in adoption of Big Data analytics. For instance, in January 2019, STACK Infrastructure launched a new brand and data center platform.
- Asia Pacific region is witnessing significant growth in the data center market due to continuous investments by cloud service providers and hyperscale providers.
For instance, in September 2021, ST Telemedia Global Data Center built hyperscale data center facility in Thailand within a data center campus. Therefore, increase in construction of hyperscale data centers is projected to significantly drive growth of data center construction market. Among enterprise size, large enterprises segment held a dominant position in the market in 2020 and is expected to retain its dominance during the forecast period. With the growth of data-intensive industries such as financial services, healthcare, telecommunications, e-commerce, and military, there is rising need for large scale data centers. There is increase in data center construction projects by large enterprises such as FAANG companies (Facebook, Apple, Amazon, Netflix and Google) and other tech such as Oracle, Microsoft, IBM Corporation, and others.
- Major players operating in the global data center construction market include 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).
