North America Data Center Construction Market Prophesied to Grow at a Faster Pace by 2027
North America Data Center Construction market in is expected to grow from US$ 18.15 Bn in 2018 to US$ 32.96 Bn by the year 2027. This represents a CAGR of 7.3% from the year 2027.
Advanced analytic software such as python, machine learning, and R programming are leveraging a large amount of data for supporting critical business decision making. Companies are digitizing their operation to capture more data from customer interactions, supply chains, equipment, and internal process. Putting all these component together in place, an increase in demand for the data center for high-speed data processing is expected to drive the growth of the Data Center Construction market. Data center service providers mainly colocation and managed hosting service providers are primarily catering to the companies looking for data storage and processing applications. The growing volumes of data are expected to support the growth of North America Data Center Construction market.
For small enterprises, constructing their data center involves huge capital. Since these enterprises don’t have enough budget or capital expenditure to build a data center also, the ROI is comparatively low. Therefore, most of these enterprises are choosing colocation or cloud services. These companies don’t require much storage space, and constructing their own data center is not feasible for them. Thereby, they depend on colocation or CSPs for storing their data. Also, apart from capital required to build a data center, other expenses and efforts such as maintenance and service become a burden for these companies. Moreover, the demand for colocation services is giving rise to the construction of mega data centers as it offers economies of scale. Thus, it is anticipated that the colocation and cloud software as service products will increase in the coming years, which would impact the North America Data Center Construction market.
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The North America Data Center Construction market is fragmented with the presence of several industries, and the competitive dynamics in the market is expected to change during the upcoming years. In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the North America Data Center Construction market further. For instance, The DCOI policy is helping the federal agencies to modernize the IT technology across the region by meeting the requirements of Office of Management and Budget (OMB). The primary focus of this policy is to improve all the data centers and IT infrastructure by acquiring technologies, evidence-based best practices, and advanced tools. In August 2016, the Federal government introduced the Data Center Optimization Initiative (DCOI). This initiative requires agencies to consolidate incompetent infrastructure, boost security, update existing facilities, save money, and change to cloud services or inter-agency shared services. This factor is also creating opportunities for companies operating in the North America Data Center Construction market to gain a broader customer base. The increasing penetration of the internet and the growing popularity of social may also benefit companies in the US operating in Data Center Construction market.
The North America Data Center Construction market by type of construction is segmented into general construction, electrical design, and mechanical design. The exterior design of any data center infrastructure is an essential decision to make while selecting a general contractor for Data Center Construction. This includes proper roofing, cladding, flooring, steel construction, and others. Apart from major cities, data centers are also built in remote locations, and factors such as weather conditions and infrastructure are taken into consideration during construction. Thus, the decision regarding the choice of steel is important for these data centers for long-lasting, durable, cost-effective, and time-saving reasons. Also, roofing is an important factor as heavy equipment are stored on it.
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The overall North America Data Center Construction market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America Data Center Construction market. It also provides the overview and forecast for the North America Data Center Construction market based on all the segmentation provided with respect to North America region. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the North America Data Center Construction industry.
Some of the players present in North America Data Center Construction market are DPR Construction, Inc., Fujitsu Limited, Aecom, Holder Construction Company, Rittal GmbH & CO. KG, Schneider Electric SE, and Hitachi Vantara Corporation among others.
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