Data center construction market to reach $35.4 bn by 2028
The global Data Center Construction Market is projected to grow at a CAGR of 7.4% from 2021 to 2028, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 19.9 Billion in 2020 and is expected to reach USD 35.4 Billion by the end of the forecast period.
Data Center Construction Market to Grow Due to Increasing Demand for Energy-Efficient Data Centers
A data center is an essential part of an organization’s IT infrastructure requirements. It is the place where servers, network systems, computer systems, and other related components are housed to support the storage, processing, and delivery of substantial amounts of critical data. The Data Center Construction Market is expected to grow due to the increase in demand for energy-efficient data centers as businesses seek to reduce their carbon footprint and incorporate more renewable assets into their operations.
The trend towards green data centers is driving the growth of the data center construction market. Key players in the market, including SAS Institute Inc., IBM Corporation, Fortis Construction, Turner Construction Co., HITT Contracting Inc., JE Dunn Construction Group Inc., DPR Construction Inc., Hensel Phelps Construction Co. Inc., AECOM, and MA Mortenson Company Inc., are investing in developing energy-efficient data centers.
The market size for data center construction is projected to increase significantly, with a market forecast indicating growth from 2021 to 2028. The market analysis indicates that the growth in demand for energy-efficient data centers will lead to the development of new market segments, providing opportunities for key players to expand their market share.
Key development strategies in the market include the use of evaporative cooling, low-emission building materials, and waste recycling. Green data centers also aid in the efficient operation of IT operations, power, and cooling bases. Competitive analysis shows that key players are investing in these strategies to stay ahead in the market.
As businesses continue to seek out sustainable solutions, the demand for energy-efficient data centers will continue to grow, providing significant opportunities for the data center construction market.
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