Singapore Data Center Market Size

The Singapore Data Center Market is projected to experience growth in its market size over the forecast period, with the tier 3 and 4 segments anticipated to dominate the market share. The tier 3 segment, while currently holding a significant portion, may see a slight decrease in its share due to the emergence of tier 4 data centers, which are expected to grow rapidly. The market's expansion is driven by the development of new facilities with substantial IT load capacities, as operators focus on integrating modern infrastructure and efficient cooling solutions to meet increasing energy demands. This strategic shift aims to enhance sustainability and operational efficiency, contributing to the overall growth of the market.

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Market Size of singapore data center Industry

Singapore Data Center Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Volume (2024) 0.88 Thousand MW
svg icon Market Volume (2029) 1.02 Thousand MW
svg icon Largest Share by Tier Type Tier 3
svg icon CAGR (2024 - 2029) 2.89 %
svg icon Fastest Growing by Tier Type Tier 4

Major Players

Singapore Data Center Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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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%. Further, the market is expected to generate colocation revenue of USD 4,036.2 Million in 2024 and is projected to reach USD 7,748.8 Million by 2029, growing at a CAGR of 13.93% 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

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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

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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

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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

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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

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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.
Singapore Data Center Market

Singapore Data Center Industry Segmentation

East Singapore, West Singapore are covered as segments by Hotspot. Large, Massive, Medium, Mega, Small are covered as segments by Data Center Size. Tier 1 and 2, Tier 3, Tier 4 are covered as segments by Tier Type. Non-Utilized, Utilized are covered as segments by Absorption.

  • 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.
Hotspot
East Singapore
West Singapore
Rest of Singapore
Data Center Size
Large
Massive
Medium
Mega
Small
Tier Type
Tier 1 and 2
Tier 3
Tier 4
Absorption
Non-Utilized
Utilized
By Colocation Type
Hyperscale
Retail
Wholesale
By End User
BFSI
Cloud
E-Commerce
Government
Manufacturing
Media & Entertainment
Telecom
Other End User
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Singapore Data Center Market Size Summary

The Singapore data center market is poised for steady growth, driven by advancements in infrastructure and increasing demand for digital services. The market is characterized by a significant focus on tier 3 and tier 4 data centers, with the latter expected to gain prominence due to their modern features and efficiency. The growth of the tier 4 segment is anticipated to be fueled by the adoption of advanced cooling solutions and greener energy options, such as Power Purchase Agreements. This shift is part of Singapore's broader strategy to manage the rising electricity consumption of data centers, which is projected to increase significantly in the coming years. The market's expansion is also supported by the country's high urbanization rate and the proliferation of connected devices, which are driving up digital data demand and network traffic.

The telecommunications landscape in Singapore is evolving, with the rapid deployment of 5G networks playing a crucial role in the sector's growth. Singtel's expansion of its 5G standalone network, in collaboration with Ericsson, highlights the strategic importance of 5G in enhancing connectivity and supporting new use cases. The data center market remains fragmented, with major players like China Mobile International Ltd, Cyxtera Technologies, Digital Realty Trust Inc., Equinix Inc., and Rackspace Technology Inc. holding significant shares. Recent developments, such as AirTrunk's expansion of its data center capacity and Equinix's partnership with the National University of Singapore, underscore the ongoing investments in infrastructure and technology aimed at meeting the evolving needs of the market.

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Singapore Data Center Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (INCLUDES MARKET SIZE IN VOLUME, FORECASTS UP TO 2029 AND ANALYSIS OF GROWTH PROSPECTS)

    1. 1.1 Hotspot

      1. 1.1.1 East Singapore

      2. 1.1.2 West Singapore

      3. 1.1.3 Rest of Singapore

    2. 1.2 Data Center Size

      1. 1.2.1 Large

      2. 1.2.2 Massive

      3. 1.2.3 Medium

      4. 1.2.4 Mega

      5. 1.2.5 Small

    3. 1.3 Tier Type

      1. 1.3.1 Tier 1 and 2

      2. 1.3.2 Tier 3

      3. 1.3.3 Tier 4

    4. 1.4 Absorption

      1. 1.4.1 Non-Utilized

      2. 1.4.2 Utilized

        1. 1.4.2.1 By Colocation Type

          1. 1.4.2.1.1 Hyperscale

          2. 1.4.2.1.2 Retail

          3. 1.4.2.1.3 Wholesale

        2. 1.4.2.2 By End User

          1. 1.4.2.2.1 BFSI

          2. 1.4.2.2.2 Cloud

          3. 1.4.2.2.3 E-Commerce

          4. 1.4.2.2.4 Government

          5. 1.4.2.2.5 Manufacturing

          6. 1.4.2.2.6 Media & Entertainment

          7. 1.4.2.2.7 Telecom

          8. 1.4.2.2.8 Other End User

Singapore Data Center Market Size FAQs

The Singapore Data Center Market is projected to register a CAGR of 2.89% during the forecast period (2024-2029).

China Mobile International Ltd, Cyxtera Technologies, Digital Realty Trust Inc., Equinix Inc. and Rackspace Technology Inc. are the major companies operating in the Singapore Data Center Market.

Singapore Data Center Market Report Snapshots

Singapore Data Center Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis Up to 2029