Singapore Data Center Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

Singapore Data Center Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The Singapore Data Center Market is projected to register a CAGR of 3.04%

Key Highlights

• IT Load Capacity: The IT load capacity of the data center market will grow steadily and is expected to reach 1,016 MW by 2029.
• Raised Floor Space: The total raised floor space in the country is expected to reach 3.3 million sq. ft by 2029.
• Installed Racks: 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.
• DC Facilities: 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: 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.

Singapore Data Center Market Trends

Tier 3 is the largest Tier Type

• 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.

Singapore Data Center Industry Overview

The Singapore Data Center Market is moderately consolidated, with the top five companies occupying 46.09%. The major players in this market are 1-Net Singapore Pte Ltd. (Mediacorp), AirTrunk Operating Pty Ltd., Equinix, Inc., Princeton Digital Group and STT GDC Pte Ltd (sorted alphabetically).

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