Data Center Construction Market Analysis, Size, Growth, Share,Demand Outlook & Forecast to 2027
The global data center construction market size is anticipated to reach USD 121.56 billion by 2027, expanding at a CAGR of 8.5% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. Increasing internet usage, high penetration of smartphones, and cloud computing have been at the forefront of generating a large volume of data, which has been a key factor driving the market. Meanwhile, the service providers are focused on enhancing the operational efficiencies to reduce power consumption and carbon footprint of the data centers. This has resulted in the rise in construction of edge and colocation data centers, which are compact and energy efficient, thereby driving the overall data market. Data centers comprise of mechanical systems built on a raised floor, which form a big part of the spending and are responsible for harmful emissions to the environment. As such, the service providers have introduced direct evaporative cooling techniques separating hot and cold air streams in the market, which also eliminates the need for raised floors. Furthermore, growing trend of modular data center infrastructure promises the effective deployment of capital based on its portable design to be placed anywhere data capacity is needed. Such efficient ways of building infrastructure are expected to bolster the growth of this market. Data centers consume a large amount of electrical energy so the data center service providers and developers are focused on investing significantly in renewable energy sources, like wind and solar farms, to combat the energy usage. Therefore, building data centers near clean and cheap energy sources are of paramount importance to make them