Market Size of Nordic Data Center Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.22 Billion |
| Market Size (2029) | USD 1.98 Billion |
| CAGR (2024 - 2029) | 8.39 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Nordic Data Center Market Analysis
The Nordic Data Center Market size is estimated at USD 1.22 billion in 2024, and is expected to reach USD 1.98 billion by 2029, growing at a CAGR of 8.39% during the forecast period (2024-2029). In terms of market size, the market is expected to grow from 1.24 thousand megawatt in 2024 to 1.82 thousand megawatt by 2029, at a CAGR of 6.61% during the forecast period (2024-2029).
- The upcoming IT load capacity in the Nordic region is projected to cross 1822.4 MW by 2029, boosting the demand for data center racks. The data center market is expected to experience steady growth, driven by the increasing adoption of digital technologies, including internet use, social media engagement, mobile connections, online shopping, and digital payments, which are expected to lead to a higher demand for IT load capacity.
- The construction of raised floor area for data centers in the region is expected to reach 7.01K sq. ft by 2029 for under construction raised floor space. The market studied is expected to experience growth due to the rising investments in cloud computing and artificial intelligence, as well as the increasing demand for data centers from end users.
- The region’s total number of racks to be installed is expected to touch 3,504,69 units by 2029. Norway is expected to house the maximum number of racks by 2029.
- There are 132 colocation data center facilities in the Nordic region. Norway holds the highest share in the region, and the country is expected to exhibit the fastest growth. 5G deployment is increasing demand for data centers in the Nordic region.
