The global data center general construction market size is expected to grow by USD 753.05 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters with a limited impact on the full-year economic growth.
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Technavio has announced its latest market research report titled Global Data Center General Construction Market 2020-2024 (Graphic: Business Wire)
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Enterprises are increasingly adopting colocation and managed hosting services as opposed to running their own data centers, which results in high CAPEX and OPEX. Constructing a data center costs around USD 800 per square feet for tier 3 facilities. Hence, SMEs prefer to partner with CSPs to rent space in the data center facility for storing equipment. Colocation services offer a shared, secure space for SMEs to store hardware, such as servers, storage devices, and network equipment. Furthermore, CSPs ensure the equipment is stored in a cool and monitored environment. CSPs partner with general construction providers to build data center facilities. For instance, Equinix partnered with the general construction provider DPR Construction for its Equinix Ashburn North Campus project. Thus, a rise in investments by CSPs will increase the demand for general construction providers, thereby driving growth for the market under focus.
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As per Technavio, the focus on the construction of green data centers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Data Center General Construction Market: Focus on the Construction of Green Data Centers
The global data center general construction market is witnessing the increased popularity of green data centers. These data centers are energy-efficient and are built to minimize environmental impact. Green data centers use low-emission building materials to create sustainable ecosystems and also ensure efficient waste recycling. Although building green data centers and obtaining certification is an expensive process, it is a cost-saving strategy in the long-term, which can reap benefits once the center is operational. Thus, the interest in green data centers is increasing rapidly, which is anticipated to drive the global data center general construction market growth during the forecast period.
"Other factors such as the growth in investments in hyperscale data centers, and the rise in M&A activities will have a significant impact on the growth of the data center general construction market value during the forecast period," says a senior analyst at Technavio.
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Data Center General Construction Market: Segmentation Analysis
This market research report segments the data center general construction market by type (base building shell construction and architecture planning and designing) and geography (North America, Europe, APAC, South America, and MEA).
The North American region led the data center general construction market share in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to factors such as the increase in consumer and enterprise data traffic and a rise in investment in data centers.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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