Data centre market to be worth US$308 billion

The data centre market is predicted to see strong growth

The global data centre construction market size is expected to reach a value of US$308.7 billion by 2027, according to a report by Grand View Research Inc.

The growth is driven by the rising demand for data storage and processing capabilities and the increased use of big data analytics.  The growing trend of cloud computing, along with the rise in digital transformation, are also said to be contributing to market growth.

Other significant factors driving growth include rising investment in infrastructure projects, increasing government spending on information technology, and greater demand from the enterprise sector.

The adoption of a software-defined data centre in the healthcare industry is also expected to also play a key role in market growth in the near future.

In Asia Pacific data centre construction is expected to witness high growth in line with the rapid development of IT and communication infrastructure and the continued rollout of 5G networks.