The worldwide data center construction market is expected to hit $429 Billion by 2032 according to recent trends in the market. Investment in data centers has seen a great rise in interest from developed and developing countries worldwide. This has been fueled by the 5G deployment, operation sustainability initiatives, and a rack power density surge. Furthermore, innovative data center power technologies as well as automation and intelligent monitoring solutions have also played a part. These are some of the key trends that have facilitated the growth of the construction of data centers worldwide and their market. Major companies and industries worldwide such as Intel and Microsoft are shifting their focus on being a part of this fast-growing market.
The Significance of the Growth of the Worldwide Data Center Construction Market
Major technologically advanced countries such as the United States have witnessed investments from major hypescalers in their region. This includes companies such as Meta, Google, AWS, Intel, and Microsoft. One of the aims of these data centers is to facilitate plans to achieve net-zero carbon emissions in the electricity sector by 2035. The US government also aims to be a carbon-neutral economy by 2050. The growth of the worldwide data center construction market will also be impactful in accessing the internet and its services. The growth will greatly influence the internet penetration and adoption of cloud-based services by businesses in the country. It will also greatly increase the country’s digitalization of the local enterprises fueling the growth of local data centers.
The Aim of Construction of Data Centers Across the Globe
The main aim of the worldwide data center construction market is to facilitate the rise in demand across several industries. This is making data center suppliers sign several M&A contracts to expand their portfolios. The data center market is also interested in acquiring data centers by real estate and investment firms. Moreover, the advancement of the IoT is making the construction of data centers worldwide a necessary factor for many countries. The Internet of Things (IoT), which connects the digital and physical worlds using a network of sensors, contributes to the fast development of data traffic. The construction of these centers will ensure that 5G networks for mobile devices can be implemented. This will aid in the exponential growth of IoT and Big data analytics during the forecast period.
The Key Investors and Companies Involved in the Construction
The worldwide data center construction market has attracted several key investors and companies across the globe. One of the world’s major technological companies, Facebook, recently announced its plan to construct new data center facilities in the United States and across the globe. Intel is also investing in a $20 billion plan to construct a new data center in Ohio. These projects will greatly facilitate the growth of the market and ensure that it grows stronger. British-based, AWS announced its plan to invest $2.4 billion in the UK to build and operate data centers.