Data Center Construction Market to Evolve at a High 7.5% CAGR through 2031 | SkyQuest Technology
Westford, USA, Nov. 14, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Data Center Construction market will attain a value of USD 409.43 billion by 2031, with a CAGR of 7.5% over the forecast period (2024-2031). Growing digitization around the world and rising volume of data are slated to promote the construction of new data centers. Rising use of cloud-based technologies and advancements in data center technologies are also expected to bolster data center construction market growth in the future.
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Browse in-depth TOC on "Data Center Construction Market"
- Pages - 197
- Tables - 62
- Figures – 75
Data Center Construction Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 229.57 billion |
| Estimated Value by 2031 | $ 409.43 billion |
| Growth Rate | Poised to grow at a CAGR of 7.5% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information/product portfolio of players |
| Key Market Opportunities | Development of hyperscale and modular data centers |
| Key Market Drivers | Growing volume of data around the world |
Tier III Data Centers are Projected to Bring in the Most Revenue for Market Players
Tier III data centers provide the perfect balance between cost and functionality, which makes them highly popular across multiple different industry verticals. Growing investments in the development of tier III data centers by large as well as small and medium enterprises are expected to help the dominance of this segment across the forecast period and beyond.
Demand for Mechanical Infrastructure Data Centers is Slated to Rise Rapidly in the Future
Rising demand for scalable data centers to accommodate rapidly increasing volume of data and high demand for cloud computing are slated to bolster the demand for mechanical data center infrastructure in the future. Rising artificial intelligence workloads are also estimated to present new opportunities for companies investing in the development of mechanical infrastructure of data centers going forward.
North America to Account for the Highest Share of the Global Data Center Construction Market
The presence of a developed technological infrastructure coupled with the presence of key data center providers allows North America to emerge as the leader in the global data center construction market. Moreover, growing public and private investments in the development of new data centers in this region will also aid the dominance of North America over the coming years. Canada and the United States remain the key markets for any data center construction company looking to make a mark in this region.
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Data Center Construction Market Insights:
Data Center Construction Market size was valued at USD 213.55 billion in 2022 and is poised to grow from USD 229.57 billion in 2023 to USD 409.43 billion by 2031, growing at a CAGR of 7.5% during the forecast period (2024-2031).
Drivers
- Rapid digitization promoting data generation
- Growing use of cloud computing around the world
- Advancements in data center construction approach and technologies
Restraints
- High initial investments for construction and operations
- Environmental impact of data center operations
- Presence of stringent regulatory environment for data center construction
Prominent Players in Data Center Construction Market
- Turner Construction Company (US)
- DPR Construction (US)
- AECOM (US)
- Skanska AB (Sweden)
- Jacobs Engineering Group Inc. (US)
- Clark Construction Group, LLC (US)
- Hensel Phelps Construction Co. (US)
- Structure Tone (US)
- Fluor Corporation (US)
- Mortenson (US)
Segments covered in Data Center Construction Market are as follows:
Type
Tier I, Tier II, Tier III, Tier IV
Application
Electrical Infrastructure and Mechanical Infrastructure
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Key Questions Answered in Data Center Construction Market Report
- What drives the global Data Center Construction market growth?
- Who are the leading Data Center Construction providers in the world?
- Which region leads the demand for Data Center Construction in the world?
This report provides the following insights:
- Analysis of key drivers (rising use of cloud technologies, growing volume of data generation, advancements in data center technologies), restraints (adverse impact of data center operations on environment, high initial investments), and opportunities (development of hyperscale and modular data centers) influencing the growth of Data Center Construction market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Data Center Construction market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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