UK Data Center Storage Market Size

UK Data Center Storage Market Analysis

The UK Data Center Storage Market size is estimated at USD 2.45 billion in 2024, and is expected to reach USD 3.81 billion by 2029, growing at a CAGR of 7.63% during the forecast period (2024-2029).

• The increasing demand for cloud computing among SMEs, government regulations for local data security, and growing investment by domestic players are some of the major factors driving the demand for data centers in the country.
• Under Construction IT Load Capacity: The upcoming IT load capacity of the United Kingdom data center market is expected to reach more than 3000 MW by 2029.
• Under Construction Raised Floor Space: The country's construction of raised floor area is expected to increase above 17 million sq. ft by 2029.
• Planned Racks: The country's total number of racks to be installed is expected to reach above 8,89,000 units by 2029. London is expected to house the maximum number of racks by 2029.
• Planned Submarine Cables: There are close to 58 submarine cable systems connecting the United Kingdom, and many are under construction.
• An increasing need for data storage has resulted in an upsurge in the number of data centers nationwide. Several factors contribute to the demand for data centers and their growth within the UK, which is reflected by the country's evolving IT landscape, business activities, and technological initiatives.
• The key drivers that propel the development of data centers in the nation include digital transformation, cloud computing adoption, e-commerce & digital services, renewable energy & sustainability, and smart cities & IoT initiatives. Hence, such factors are expected to drive market growth during the forecast period.