New York, NY, March 15, 2016 --(PR.com
)-- A new report recently published by Beige Market intelligence titled “Strategic Assessment of the Worldwide Data Center Construction Market” by construction (electrical construction, mechanical construction, and general construction), global industry analysis, market size, competitive market share, growth, geographical analysis, technology segmentation, competitive analysis, trends and forecast for 2016-2021 estimates the market to record a total revenue generation of approximately US$ 54 billion by 2021 growing at a CAGR of approximately 5 percent over the period 2016 to 2021.
One key factor that is contributing towards the growth of the Data Center Construction market is the continual increasing demand for data storage. A number of prominent organizations around the world are forced to add at least ten racks on a daily basis to their current data center storage capacity to accommodate the volume of data that needs to be stored. As such, with such a high volume of data, it is quite evident how absolutely necessary it is to have more data canters constructed as early as possible.
Electrical Construction Contributes to the highest share in Europe
The tier 1 and tier 2 data center construction in Europe will witness a moderate growth during the period 2015-2017., while the tier 3 and tier 4 markets will witness a rapid growth by around 2020. This rapid growth is primarily because of the large volume of investments in the Nordic regions by an increasing number of large enterprises some of which include Microsoft and Google. Looking at the type of data canter construction in 2015, electrical construction accounted for the highest share in Europe with a contribution which was approximately 15 percent higher than the general construction contribution.
Data Center Market in North America is near Saturation
The North American market was one of the early adopters of data centers and as such, has seen a large volume of consolidation of data centers over the last few years. In this respect, the number of new projects in the region are comparatively lesser than the other regions. However, the number of upgradations in the current data centers in the region is continuously increasing year over year along with renovation projects. The market is expected to record a total revenue generation of approximately US$ 13 billion by 2021.
Cost of Data Center Construction Expected to decline significantly by 2021
The average cost of construction of data center per square feet will decline significantly by 2021 across all tier markets. One of the primary reasons for this significant decline is technological innovation, which lead to the construction of cost effective solutions. For instance, the cost of ownership of free cooling system is 50-60% cost effective vis-à-vis the traditional water cooling solution. Moreover, in last five years, the per square feet electrical cost of construction has reduced almost 50% for Tier3&4 and expected to reduce another 20-30% in next 3-4 years.
Intense Competition among Vendors in Data Center Construction Market
Companies operating in this market include AECOM, Arup Group, Corgan Associates, DPR Construction, Gensler, HDR Architecture, Holder Construction Group, ISG, Jacobs Engineering, Jones Engineering, Nakano, Schneider Electric, SISK, Sweett, Syska Hennessy and Turner Construction.
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