Devices connected to the net of things, as well as technology like augmented reality, virtual reality and cloud, will be a boon for the data center construction market over the next few decades – leading to a total market valuation of US$31.9 billion between 2018 and 2023, in accordance with the most recent Market Research Future report. The market will expand at a compound annual growth rate of 9.04% between 2018 and 2023, driven by the technology mentioned above, and also the rapid emergence of information center facilities and the insatiable appetite of the world for information.
Organisations are demanding more energy efficient information centers, that will also open up new growth avenues for data center construction. Already, data centre builds are increasing their use of low head emanating building materials so as to construct energy efficient centers. In addition, waste re use and evaporative cooling can also be tipped to be popular green strategies in the years to come. MRFR cautions that investments have dropped, but the marketplace might face challenges with regards to capturing growth possible. Companies, therefore, have taken up investing in data center colocation. Varied opportunities made available by colocation centers as when compared to the conventional data centers are said to drive growth to the marketplace.
In addition, various benefits offered by data center construction like high speed data centers, lower latency, and also the work done in real time will also be currently promoting growth through the review period, MRFR says. The worldwide data center construction marketplace, when broken down into areas such as Asia Pacific, Europe, North America, and the Rest of the World, is also being propelled by strong growth in the Americas. North America is likely to be the principal market for data center construction throughout the review period. With the increasing requirement for information storage, safety, and faster operation, the growth of data center construction is witnessing propulsion in the region.
The U.S., Mexico, and Canada are investing heavily in the development and research of big information and analytics, MRFR says. This has emphasized the requirement for information centers to store and analyze information, fostering the industry growth. The U.S. Is projected to lead the country specific marketplace, followed by Canada and Mexico. Canada is likely to pose as the quickest growing market in North America, watching 7.5% CAGR throughout the forecast period. Asia Pacific is still undergoing a higher growth rates, due to the existence nations with a large population, high demand for telecoms platforms, and also a number of technology companies in the region. The MRFR report has profiled some of the prominent players in the information center construction market such as AECOM, Arup Group, Fluor Corporation, Gensler, Corgan, HDR, Inc., Page Southerland Page, Inc., Holder Construction Group, Jones Engineering Group, Tone Structure, Syska Hennessy Group, Aceco TI, Jacobs Engineering Group, along with Turner Construction Company.