Data Center Construction Market Size, Share, Growth Analysis, By Type(Tier I, Tier II, Tier III, Tier IV), By Application(Electrical Infrastructure and Mechanical Infrastructure), By Region - Industry Forecast 2024-2031

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).

The growth of the data construction market is gradually increasing due to the renewal of construction of several data center facilities, which was suspended temporarily due to the COVID-19 pandemic. The emergence of new IT projects is also boosting the growth of the data center construction market. The market is also witnessing constant investments in constructing hyperscale facilities, which require IT infrastructure, cooling equipment, and power quality equipment. Furthermore, public cloud providers, like Alibaba and Google are also heavily investing in upgrading their current infrastructure, creating growth possibilities for the market. The construction procedure involves activities like planning, designing, and construction of a facility. The increasing data consumption and business demand for cloud computing are two major factors boosting the market growth. The emergence of multi-tenant or colocation facilities is also fueling the growth of the market for data center construction. Many companies related to various industries are moving towards cloud computing, boosting the demand for colocation services. Moreover, the cost benefits related to outsourcing storage requirements are also driving the multi-tenant facilities.