Market Landscape

Market Research Future (MRFR), in its new research report, asserts that the global market is booming and poised to expand signficantly over the review period, registering a exponential market revenue of 31.91 billion and a moderate 9% CAGR in the forecast period.

Drivers and Restraints

The IoT is using a web of numerou resources such as computing economics, data analytics, rising utilization of IP- Based networking, cloud computing, and others that need a proper flow of data owing to which the gowth in the data center construction market can be witnessed.

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The data center construction market is also witnessing a considerable boost from data center facilities founded by companies such as Google, Microsoft, Amazon, and Facebook. The surge can be attributed to cloud computing, which has gained notable superiority in the past few years, and its evolution safeguards the outlook of the market. These factors involve data center construction which in the coming years can gain considerable momentum as suggested by MRFR in its report.

On the other hand, the initial cost is pretty high that can put a rein on the market. The construction of the site comprises labor cost, power cost, site acquisition, net taxes, construction cost, equipment cost, machinery cost, and labor availability that can put a huge tab on the leger — incurring such a substantial expense at the beginning of the project or as an accumulation in the midway limiting many companies from implementing such a plan.

Segmental Analysis

Based on the design type, the market is segmented into electrical construction and mechanical construction. The electrical segment is the leading and the fastest-growing one with a predicted market value of USD 16.99 billion over the forecast period.

Based on the tier type, the market is sub-segmented into tier1, tier3, tier2, and tier4. Tier 4 has the edge over other segments and is poised the highest CAGR in the coming years as well. A moderate CAGR of 10.4% can ensure its position in the segment over the forecast period.

Vertical-wise segmentation of the market includes healthcare, BFSI, IT & telecommunication, oil and energy, media & entertainment, and the public sector. IT & telecom to lead the market from the front with an estimated CAGR of 10.8% during the forecast period.

Regional Dynamics

The geographic analysis of the global market has been carried out in four major regions, including North America, the Asia Pacific, Europe, and the rest of the world (Latin America, the Middle East and Africa). North America, with its focus on innovative technologies and an insatiable thirst for implementing the latest technologies, has created a market that depends much on security, data storage, and quick operation. This has ensured the data center construction market’s expansion in the U.S. and Canada due to which the region can witness a growth of market share with a CAGR of 7.5% during the forecast period.

Europe’s market lead can be attributed to the healthy presence of IT and Telecommunication. Germany dominates the region and is anticipated to grow with a CAGR of 7.5% during the review period. The region can take over North America’s reign over the market share by 2023.

The APAC region, acquiring the fastest growth, can be attributed to its large population which is creating demand for telecommunication application and IT & software industries. China is the leading market and is projected to grow with a CAGR of 11.8% during the same period.

Competitive Analysis

The major market players functioning in the global market as identified by MRFR are Gensler (US), AECOM (US), HDR Architecture (US), Corgan Associates Inc. (US), Arup Group (UK), Holder Construction Group (US), DPR Construction (US), Page Southerland Page (US), Jones Engineering Group (US), Structure Tone (US), and others.

More Information : https://www.marketresearchfuture.com/reports/data-center-construction-market-5809
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