Chicago, June 20, 2022 (GLOBE NEWSWIRE) — According to Arizton latest research report, the South Korea data center market is expected to grow at a CAGR of 6.71% during 2022-2027. The growing support and initiatives from the government for the development of data centers will lead to attracting new investors to the country. The high adoption of artificial intelligence by the government and other organizations is one of the major factors driving market growth.
South Korea Data Center Market Report Scope
|MARKET SIZE (2027)||$5.8 Billion|
|MARKET SIZE (2021)||$3.9 Billion|
|MARKET SIZE (AREA)||348 thousand Sq. Feet (2027)|
|MARKET SIZE (POWER CAPACITY)||80MW (2027)|
|COLOCATION MARKET SIZE (REVENUE)||$1,000 Million (2027)|
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- South Korea is in the Northeast Asian economic zone and has strong trade connectivity with major Asian countries. Seoul is the primary location for data center development, with more than 15 data center facilities contributing around 50% of the existing third-party data center capacity in South Korea.
- Telecom, cloud, healthcare, BFSI, automobiles, gaming, logistics, and education are some of the industry verticals in South Korea that drive the demand for data centers in South Korea.
- South Korea has the presence of global cloud service providers such as Amazon Web Services (AWS), Microsoft, Google, Oracle, and Tencent. Some of the local cloud service providers in the country include KT, LG CNS, and SK C&C.
- The South Korea data center market has witnessed several investments through joint ventures; for instance, in April 2022, Digital Edge and SK ecoplant signed a memorandum of understanding (MOU) to develop a data center facility in Incheon, South Korea.
- The country has the presence of several free economic zones such as Incheon FEZ, Busan-Jinhae FEZ, Gwangyang Bay Area FEZ, Chungbuk FEZ, and Saemangeum-Gunsan FEZ will drive data center investment in the country in upcoming years.
- The South Korea Government aims to generate around 35% of energy from renewable energy sources by 2040 in the country. Data center service providers such as NAVER, Equinix, and Digital Realty are using renewable energy to power their data center operations.
South Korea Data Center Market Growth Enablers
- The South Korean data center market is one of the quickly emerging markets in the APAC region, with growth in investments from global cloud service providers such as AWS, Microsoft, Alibaba, and Google.
- Several startups in the country are using big data solutions for modifying their business operations. For instance, Coupang, an e-commerce company based in South Korea, is using big data analytics for its e-commerce platform.
- Growing joint ventures will bring foreign investments to the country as well as attract other investors to invest in data centers. The joint ventures will further create revenue opportunities for vendors and local operators with investments from global firms. Joint ventures are also encouraging global brands to increase their presence in the country and maintain a brand reputation, local market knowledge, and local operations.
- IT Infrastructure
- Electrical Infrastructure
- Mechanical Infrastructure
- General Construction
- Uninterruptible Power Supply (UPS)
- Transfer Switches and Switchgears
- Other Electrical Infrastructure
- Cooling Systems
- Other Mechanical Infrastructure
- Core and Shell Development
- Installation and Commissioning Services
- Building Design
- Physical Security
- Tier I & Tier II
- Tier III
- Tier IV
IT Infrastructure Providers
- Arista Networks
- Cisco Systems
- Dell Technologies
- Hewlett Packard Enterprise (HPE)
Data Center Construction Contractors & Sub-Contractors
- DPR Construction
- GS E&C
- Hyundai Engineering & Construction
- POSCO ICT
- SAMOO Architects & Engineers
- Samsung C&T
Support Infrastructure Providers
- Delta Electronics
- Fuji Electric
- Mitsubishi Electric
- Piller Power Systems
- Rolls Royce
- Schneider Electric
Data Center Investors
- Digital Realty
- Kakao Corp
- KT Corp
- LG Uplus
- NAVER Corp
- NHN Corp
- Princeton Digital Group (PDG)
- Pure Data Centers
- Samsung SDS
- SC Zeus Data Centers
- SK Broadband
- ST Telemedia Global Data Centers
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