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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Data Center Construction Market Overview:
Report CoverageDetailsMarket Revenue in 2023$ 229.57 billionEstimated Value by 2031$ 409.43 billionGrowth RatePoised to grow at a CAGR of 7.5%Forecast Period2024-2031Forecast UnitsValue (USD Billion)Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and TrendsSegments CoveredType Application, and RegionGeographies CoveredNorth America, Europe, Asia Pacific, Middle East & Africa, Latin AmericaReport HighlightsUpdated financial information/product portfolio of playersKey Market OpportunitiesDevelopment of hyperscale and modular data centersKey Market DriversGrowing 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 generationGrowing use of cloud computing around the worldAdvancements in data center construction approach and technologies
Restraints
High initial investments for construction and operationsEnvironmental impact of data center operationsPresence 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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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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