According to Arizton’s latest research report, the global data center market is growing at a CAGR of 8.19% during 2023-2029.
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Report Scope
Market Size – Investment (2029): USD 398.80 Billion
Market Size –Area (2029): 67.30 Million Sq. Ft.
CAGR – Investment (2023-2029): 8.19%
Market Size – Power Capacity (2029): 12,920 MW
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Facility Type, Infrastructure, IT Infrastructure, Electrical Infrastructure, Mechanical Infrastructure, Cooling Systems, Cooling Techniques, General Construction, Tier Standard, and Geography
Geographical Analysis: North America, Latin America, Western Europe, Nordics, Central & Eastern Europe, Middle East, Africa, APAC, and Southeast Asia
In 2023, the global data center market saw investments exceeding $248 billion, driven by both colocation operators like Equinix, Digital Realty, and Vantage Data Centers, as well as hyperscalers such as Meta, Microsoft, AWS, and Google. These companies are expanding their presence, particularly in emerging regions across Europe and the Asia-Pacific (APAC). The US market is thriving due to growing demand from hyperscalers, AI needs, and the rise of edge computing. To meet the increasing demands of AI, data center operators are innovating with new cooling and energy-efficient solutions to achieve sustainability targets.
Western Europe is a leading choice for hyperscale data centers due to its availability of free, air-based cooling, which helps reduce power consumption. Operators are focusing on countries like Spain, Portugal, and Greece, where renewable energy is abundant, and land prices are reasonable. In the APAC region, China leads in power capacity, with India, Japan, Malaysia, Australia, and Indonesia contributing significantly to growth. Additionally, investment is expected to increase in Vietnam, Thailand, the Philippines, South Korea, and New Zealand. Alongside AWS, Google, and Microsoft, other cloud providers like Alibaba Cloud, Tencent Cloud, Oracle, IBM Cloud, and OVHcloud are expanding their global cloud regions, further boosting data center investments.
Hyperscale Market Investments in 2023 and 2024 Developments
In 2023, the Nordic and Western European hyperscale markets saw significant investments from major hyperscalers, including Microsoft, Google, Meta, and Oracle. Google Cloud and Meta have established a strong presence in Denmark, while Microsoft revealed plans to open a new data center region for cloud services, which will feature multiple availability zones.
Looking ahead, in March 2024, Google announced plans to develop a new data center campus in Kansas City, Missouri, with an investment of approximately $1 billion. The project will be built in four phases, with the first phase expected to be operational by 2025-2026.
AWS Expansion and Nordic Governments’ Support for Hyperscale Data Centers
In April 2023, Amazon Web Services (AWS) acquired approximately 234 acres of land in Pickaway County, Ohio, with an investment exceeding $49 million to support its data center expansion across the state.
In the Nordic countries, local government bodies are actively promoting the growth of hyperscale data centers. To foster this expansion, various governments have introduced attractive tax incentives and established dedicated data center zones. These efforts are aimed at streamlining processes and creating a favorable environment for the development of large-scale data infrastructure.
Key Area Highlights
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Market Segmentation
Facility Type
Infrastructure
IT Infrastructure
Electrical Infrastructure
Mechanical Infrastructure
Cooling Systems
Cooling Techniques
General Construction
Tier Standard
Geography
North America
Latin America
Western Europe
Nordics
Central & Eastern Europe
Middle East
Africa
APAC
Southeast Asia
Vendor Landscape
IT Infrastructure Vendors
Support Infrastructure Vendors
Data Center Contractors
Data Center Operators
New Entrants
Key Questions Answered in the Report:
How big is the data center market?
What are the key trends in the data center industry?
What is the growth rate of the global data center market?
What is the estimated market size in terms of area in the global data center market by 2029?
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