Data Center Construction Market Research Report, by Design Type (Electrical Construction, Mechanical Construction), Tier Type (Tier 1, Tier 2, Tier 3, Tier 4), Verticals (BFSI, IT & Telecommunication, Media & Entertainment, Oil & Energy, Public Sector) – Global Forecast till 2023



Data Center Construction Market Research Report - Forecast to 2023

Market Research Future (MRFR)’s latest study reveals that the global data center construction market is projected to reach the value of USD 31.91 billion by 2023. The market is set to advance at CAGR of 9% during the forecast period (2018–2023). The market is surging ahead on account of the high adoption of internet of things (IoT) devices such as augmented reality (AR), virtual reality (VR) & cloud-based technologies, smartphones. The popularity of data centers is growing owing to increasing information exchange on the back of increasing ownership of smartphones.

The major benefits offered by data center construction are low latency, high-speed data transfer and work in near real-time. The data center construction market is also fueled by factors such as the invention of advanced technologies and software applications.

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On the other hand, high costs incurred for the establishment of a new data center has become a major challenge for the market growth. However, to overcome these challenges, companies have started investing in data center colocation. This industry trend is predicted to follow over the review period due to the vast array of benefits offered by colocation facilities compared to conventional in-house centers. This factor will surely propel the data center construction market in coming years.

Vendor Landscape

AECOM, Arup Group, Fluor Corporation, Gensler, Corgan, HDR, Inc., Page Southerland Page, Inc., Holder Construction Group, Jones Engineering Group, Structure Tone, Syska Hennessy Group, Aceco TI, Jacobs Engineering Group, Turner Construction Company, and others

Global Market for Data Center Construction Market – Segmental Analysis

MRFR’s report offers a detailed segmental analysis of the market on the basis of design type, tier type, vertical, and region.

By design type, the market is sub-segmented into electrical construction and mechanical construction. In turn, electrical construction is sub-segmented into uninterruptible power supply (UPS), racked Power Distribution Unit (PDU), generators, transfer switches, and others.

By tier type, the market is sub-segmented into tier1, tier2, tier3, and tier4. Among these, Tier 4 is projected to be a dominating segment throughout the forecast period. Tier 4 data centers are largely used in enterprises with redundant and dual power instances of storage, network links, and power cooling equipment.

By vertical, the market is sub-segmented into BFSI, healthcare, IT & telecommunication, media & entertainment, oil and energy, and public sector.

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Regional Outlook

North America led the data center construction market in 2017 trailed by Europe, and Asia Pacific (APAC).

Sophisticated technology and increasing demand for security, data storage, and faster operation are fueling the demand for data center construction in the North America region. The United States (US), Canada, and Mexico make huge investments for research and development of big data and analytics requiring data centers to store and process the data. This can compel the enterprises in North America to construct new data centers. The US followed by Canada is the leading market in the region and has generated total revenue of USD 2873.4 million in 2017, on the other hand, Canada is predicted to grow at the fastest CAGR of 7.5% during the forecast period.

The report states that APAC is the fastest growing market on account of presence of nations with high population, massive demand for telecommunication applications, and a large number of IT & software industries. In the region, China managed to generate the highest revenue of USD 1625.7 million in 2017 and is also projected to expand further with the fastest CAGR of 11.8% during the forecast period.

The EU region has observed rising digitization in the business world coupled with growing demand for highly resilient data management services. These factors have resulted in augmentation of the data center construction market in the region. The Europe region is a combination of advanced technology and a high number of small and large enterprises, which heavily drives the demand for data centers in various organizations.

Also Read: https://www.globenewswire.com/news-release/2019/04/18/1806296/0/en/Data-Center-Construction-Market-Valuation-USD-31-91-billion-by-2023-Data-Centre-Construction-Industry-Analysis-by-Design-Type-Tier-Type-and-Verticals.html

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