Market Size of singapore data center Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Volume (2024) | 0.88 Thousand MW |
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Market Volume (2029) | 1.02 Thousand MW |
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Largest Share by Tier Type | Tier 3 |
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CAGR (2024 - 2029) | 2.89 % |
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Fastest Growing by Tier Type | Tier 4 |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Singapore Data Center Market Analysis
The Singapore Data Center Market size is estimated at 0.88 thousand MW in 2024, and is expected to reach 1.02 thousand MW by 2029, growing at a CAGR of 2.89% during the forecast period (2024-2029).
USD 4,036.24 Million
Market Size in 2024
USD 7,748.8 Million
Market Size in 2029
18.1%
CAGR (2017-2023)
13.9%
CAGR (2024-2029)
IT Load Capacity
881 MW
Value, IT Load Capacity, 2024
The IT load capacity of the data center market will grow steadily and is expected to reach 1,016 MW by 2029. Adoption in smart city projects such as video monitoring program and investment by companies would increase DC facilities.
Total Raised Floor Space
Sq. Ft. 2.83 M
Volume, Raised Floor Space, 2024
The total raised floor space in the country is expected to reach 3.3 million sq. ft by 2029. The inclusion of 5G in the country has led to an increase in the consumption of data, would triggered the growth of data centers in the country.
Installed Racks
141,966
Volume, Installed Racks, 2024
The total number of installed racks is expected to reach 165,468 by 2029. West Singapore is expected to house the maximum number of racks over the years.
# of DC Operators & DC Facilities
28 and 46
Volume, DC Facilities, 2024
There are 46 colocation data center facilities in Singapore. The rising demand for more eco-friendly data processing facilities and revised regulatory norms will oversee a controlled expansion of the market studied.
Leading Market Player
12.4%
Market Share, STT GDC Pte Ltd, 2023
STT GDC Pte Ltd is the leading player in the Indonesian data center market and is further poised to continue its leadership by rolling out a massive data center with 33 MW capacity during the forecast period.
Tier 3 holds the majority market share in 2023, Tier 4 is the fastest growing data center
- The tier 3 and 4 segments are expected to hold the highest market share during the forecast period. The tier 3 segment is expected to hold the highest market share of 71.5% in 2023. However, its share may decrease marginally to 61.4% in 2029 due to the upcoming tier 4 data centers.
- The tier 3 segment is expected to record a CAGR of 0.43% during the forecast period, majorly due to the upcoming data centers from Keppel Data Center and STT GDC Pte Ltd, which plan to launch three facilities with a cumulative IT load capacity of 90 MW.
- The tier 1 & 2 segment is expected to record a CAGR of 1.88% during the forecast period, with a market share of 12.1% by 2029. The growth trend is majorly due to the upcoming data centers from NTT Ltd, which plans to launch one facility with an IT load capacity of 5 MW.
- Both the tier 1 & 2 and tier 3 segments may witness a dip in their market share due to the growth of the tier 4 segment, with a CAGR of 12.69% and an IT load capacity of 269.65 MW during the forecast period.
- In Singapore, 7% of total electricity consumption goes to data centers, which may grow to more than 12% by 2030. As a result, the country aims to efficiently use data centers by equipping them with modern infrastructure and cooling techniques. Operators are considering investing in more efficient cooling solutions, such as district cooling, and greener options for powering data centers, such as engaging in Power Purchase Agreements (PPAs). Tier 4-certified facilities may help operators achieve these standards, thus boosting the segment's growth.
Understand The Key Trends Shaping This Market
