Friday, 26 April 2024
The Europe Data Center Construction Market is growing along with the Technology, Media and Telecommunications industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
Europe Data Center Construction Market is estimated to be valued at US$ 11.0 Bn in 2018 end and is expected to touch a figure of nearly US$ 20.1 Bn by 2027 end representing a CAGR of 7.6% over the forecast period.
The proportion of data center traffic generated by the cloud was around 1.2 zettabytes of data, according to Cisco Systems, and this comprised of 46% of the total traffic. Furthermore, the company estimates that in the year 2017, this data center traffic will increase to 69% or 5.3 zettabytes of all data traffic. This has resulted in cloud-based companies to deploy more IT space in their data centers.
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The demand is primarily full filled by the co-location service providers that holds the larger share of the market in Europe. Increasing user needs such as predictive analytics, storage requirements and fast data processing are some of the applications of data center. Data centers and cloud solutions are experiencing high demands; and also investments in these technologies are expected to increase significantly. Many big companies have either built or are planning to build their data centers in the European region owing to factors such as GDPR, climatic conditions of the region, government support as well increasing business in Europe, to provide best uptime and service delivery.
These factors are expected to offer broad growth opportunities in the Technology, Media and Telecommunications industry and this is expected to cause the demand for Data Center Construction in the market.
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EUROPE DATA CENTER CONSTRUCTION MARKET SEGMENTATION
Europe Data Center Construction Market – By Type of Construction
Europe Data Center Construction Market – By Tier Standard
Europe Data Center Construction Market - By Industry Vertical
Europe Data Center Construction Market - By Geography
Europe Data Center Construction Market - Company Profiles
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