Dublin, Feb. 27, 2024 (GLOBE NEWSWIRE) -- The "North America Data Center Market Size & Share Analysis - Growth Trends & Forecasts Up To 2029" report has been added to ResearchAndMarkets.com's offering.
The North America Data Center Market is set for a significant surge with an expected growth from USD 26.67 billion in 2023 to a remarkable USD 55.83 billion by 2028, marking an impressive compound annual growth rate (CAGR) of 15.92% over the forecast period. This expansion is a testament to the thriving IT infrastructure demand throughout various industry sectors.
As digital transformation accelerates across the continent, the market outlook hints at robust trends that will redefine data processing and storage capacities. A comprehensive market analysis predicts that IT load capacity will reach a staggering 25,757.5 MW by the year 2029. This is coupled with a marked increase in raised floor space, projected to expand to 88.9 million sq. ft, supporting the rapidly growing IT infrastructure.
Furthermore, the analysis showcases the United States as the pioneering force in the North America Data Center sphere with a substantial number of installed racks forecasted to hit 4,447,348 units by 2029. Collectively, these market dynamics underscore the robust health and lucrative prospects within the data center realm in North America.
Market Dynamics and U.S. Leadership
The industry has witnessed 977 colocation data center facilities flourishing in North America, with the majority situated within the U.S., which is also anticipated to experience the fastest growth in the region. Factors fueling this growth include rapid 5G deployment, relentless pursuit of digitalization, and increasing demands from data-centric operations. A notable key player, Switch, has solidified its market position with five data center facilities overseeing over 5.7 million sq. ft of net rentable capacity and an impressive 1,590 MW IT load capacity.
Trends in Tier Types and Data Center Tiers
- Tier 3 data centers are leading the segment with substantial advantages in power and cooling redundancy, achieving an uptime of approximately 99.982%. This exemplifies the strength of high-reliability centers in supporting business continuity.
- Surging at a CAGR of 15.51%, tier 4 data centers are gaining momentum, with a spotlight on total fault tolerance and component redundancy driving their adoption in industrialized nations.
With a fine-grained analysis, the insights also delve into the rapid advancements the United States is making in hyperscale colocation data centers landscape. It highlights an explosive growth trajectory, with IT load capacity positioned to reach 12,047.5 MW by 2029.
Regional Analysis and Market Leaders
Canada stands out as an emerging hotspot for data center developments, leveraging its conducive regulatory environment and climate. In light of these, numerous new initiatives have been undertaken to build state-of-the-art facilities, significantly contributing to the demand for advanced data storage and processing solutions.
A selection of companies mentioned in this report includes:
- Cologix, Inc.
- CoreSite (America Tower Corporation)
- CyrusOne Inc.
- Cyxtera Technologies
- Digital Realty Trust, Inc.
- Edgecore (Partners Group)
- Equinix, Inc.
- Flexential Corp.
- NTT Ltd.
- Quality Technology Services
- Switch
- Vantage Data Centers, LLC
For more information about this report visit https://www.researchandmarkets.com/r/agrncs
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