Technavio reports the global data center construction market will grow at a CAGR of 12 percent during the next four years and reach or exceed $74 billion by 2020. The market is anticipated to reach 26 billion in the US alone, growing at an overall CAGR of 7 percent.
The rising popularity of cloud-based solutions is one of the main factors in the growing need for high-quality data center construction. As more companies switch to cloud-centric data storage and management, more data center providers will have to build the respective equipment to stay relevant in the industry.
A growth in data center construction also means growth for data center management and disposition providers. As more data centers are built around the country, the need for high-quality enterprise data center asset management will continue to grow.