United Kingdom Data Center Market United Kingdom Data Center Market C A G R
Dublin, Feb. 19, 2024 (GLOBE NEWSWIRE) — The “UK Data Centre Market Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028)” report has been added to ResearchAndMarkets.com’s offering.
The UK Data Centre Market is set to witness a significant growth spurt, going from a value of USD 14.64 billion in 2023 to a projected USD 18.73 billion by 2028. This expansion equates to a Compound Annual Growth Rate (CAGR) of 5.05% over the forecast period from 2023 to 2028. Highlights of the market developments have been detailed in this report, which offers a comprehensive overview of growth trends and forecasts for this burgeoning industry.
Data Centre Market Trends in the UK Showcase Steady IT Load Capacity Expansion
One of the key takeaways from the report is the expected increase in IT load capacity within the UK data centre market. By 2029, this figure is anticipated to escalate to 3609.68 megawatts (MW). In conjunction with this, the country’s total raised floor area aims to reach 17.79 million square feet and the total number of installed racks may rise to 889,896 units, with London poised to host the majority.
The UK holds a strategic edge with London being one of the most significant data centre markets in Europe. The presence of over 50 submarine cables reinforces the UK’s role as a crucial interconnect and communication hub linking North America and Europe.
Emerging Market Dynamics Hinting at Strong Tier 3 Data Centre Adoption Rate
The analysis further reveals that Tier 3 data centers are currently the most sought-after due to their robust onsite support, alongside crucial power and cooling redundancies. Data from 2022 showed the operational capacity for Tier 3 data centres was 1540.98 MW. Projected growth rates suggest an impressive increase in capacity up to 3369.24 MW in 2029, which equates to a CAGR of 10.88%.
At present, Small and Medium-sized Businesses (SMBs)—which make up nearly the entire UK business population—demonstrate a preference for at least tier III-rated systems. Large enterprise inclination tilts towards Tier 4 data centers, appreciated for their fault-tolerance and minimal downtime, potentially indicating a growing market for such facilities in the forecast period.
Landscape of the UK Data Centre Market
As per the current market scenario, the UK Data Centre Market is characterized by moderate consolidation, with the top five entities holding 49.72% of the market. Industry leaders in this sphere offer a range of sophisticated services that cater to the digital transformation and data-centric demands of diverse client bases.
Additional insights spotlight the industry’s potential for innovation, government investment in fiber connectivity, and the integration of superior cybersecurity measures, all contributing to a promising growth trajectory. The report provides a meticulous market estimate, supporting the strategic decision-making needs of stakeholders and investors interested in the UK Data Centre landscape.
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Robust infrastructure development trends
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Strategic insights into IT load capacity enhancements
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Forecast trajectories for Tier 3 and Tier 4 data center adoptions
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Detailed analyses of market consolidation and key player strategies
A selection of companies mentioned in this report includes:
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Colt Technology Services
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CyrusOne Inc.
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Digital Realty Trust, Inc.
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Equinix, Inc.
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Global Switch Holdings Limited
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Global Technical Realty S.ar.l
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Kao Data Ltd.
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NTT Ltd.
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Rackspace Technology Inc.
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Telehouse (KDDI Corporation)
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Vantage Data Centers, LLC
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Virtus Data Centres Properties Ltd (ST Telemedia Global Data Centres)
For more information about this report visit https://www.researchandmarkets.com/r/sii0mn
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