According to new research from The Insight Partners, the global data centre market is expected to grow from the $9.56bn recorded in 2016 to $22.83bn by 2025, maintaining a compound annual growth rate (CAGR) of 10.3% between this period.
As the demand for data management services continue to rise and companies globally increasingly look to digitise and transform their operations, providers are looking to expand their networks and build more facilities in the aim of capitalising on this market opportunity.
According to new data from the Synergy Research Group, the number of data centres operated by hyperscale providers is nearing the 400-mark, with the likes of Google, IBM, Amazon, Microsoft and other leading firms all having been particularly active in the market of late.
“Hyperscale growth goes on unabated and we already have visibility of at least 69 more hyperscale data centres that are at various stages of planning or building,” said John Dinsdale, a Chief Analyst and Research Director at Synergy Research Group. “We will pass the 500-milestone before the end of 2019.”
In order to accommodate this growth, more data centres have to be built – a significant driver of the forecast CAGR that is expected within the global data centre construction market.