DUBLIN, Feb. 07, 2024 (GLOBE NEWSWIRE) — The Data Center Market Size and Share Analysis – Growth Trends and Forecasts to 2029 report has been added. ResearchAndMarkets.com Recruitment.
This report offers a comprehensive study of the fast-growing Data Center market, detailing trends, growth trajectory, and market forecast till 2029. This extensive study provides a strategic overview of the market environment and highlights the key factors contributing to the projected annual data center market. The growth rate is 10.90%.
IT load capacity and infrastructure development
Market analysis predicts that IT load capacity will increase significantly and reach 71,965.5 MW by the end of the forecast period. This expansion reflects the growing demand for data processing and storage capabilities due to the growing consumption of digital services globally. Additionally, advances in IT infrastructure have led to increased floor space, which is projected to reach 284.2 million square feet by 2029.
Installing racks and colocation facilities
The proliferation of data center racks is another aspect of the growth, with the number of installed racks expected to reach the mark of 14,206,878 units. North America is expected to maintain its lead in rack capacity, contributing to the region’s dominant position in the global market. Currently, there are 3,346 colocation data center facilities worldwide, with North America holding a significant market share. As demand for data center services soars, fiber connectivity and power reliability continue to improve, driving construction efforts in both developed and developing regions.
Competitive environment and class classification
In the competitive environment, Digital Realty Trust Inc. has emerged as a prominent player with a leading market share of 8.5%. This dominant presence is reinforced by the company’s extensive IT load capacity and future expansion plans. When it comes to market segmentation by tier, tier 3 data centers are at the forefront, boasting an utilization rate of 99.982%. Europe is seen as the dominant force in this segment, with London and Dublin being important Tier 3 data center hubs. The report projects that the Tier 3 segment in this region will grow from 7,979.69 MW in 2023 to 12,110.18 MW in 2029. Conversely, tier 1 and 2 data centers primarily cater to the requirements of small and medium-sized enterprises and may experience slower growth.
Regional Market Insights: North America, Europe, Asia Pacific
Geographically, North America continues to lead the data center market, driven primarily by the industry’s prominence in Northern Virginia. Nevertheless, favorable regulatory and infrastructure developments in Virginia show signs of future market share diversification as the region matures. In contrast, Europe has diverse market pockets with different land prices that influence investment shifts, especially within his FLAP-D metropolitan markets. This geographic diversification also includes the Asia-Pacific region, where Australia has seen significant growth due to technological advances and a commitment to renewable energy.
Industry outlook
Reflecting the fragmented industry, the top 5 players in the data center market account for nearly 26.99% of the market space. It represents a dynamic and competitive market environment where players such as CyrusOne Inc., Equinix, Inc., and Vantage Data Centers, LLC are striving for market dominance.
Some of the companies mentioned in this report include:
- Airtrunk Operating Pte Ltd.
- Chin Data Group Holdings Co., Ltd.
- Cyrus Swan Co., Ltd.
- Cyxtera Technologies
- Digital Realty Trust Co., Ltd.
- Equinix Inc.
- Flexential Inc.
- NTT Corporation
- High quality technical service
- Space DC Pte. Co., Ltd.
- switch
- Vantage Data Centers, LLC
For more information on this report, please visit https://www.researchandmarkets.com/r/ezyfdf.
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