2025 Global Data Center Market Comparison – Key Takeaways

Cushman & Wakefield’s latest Global Data Center Market Comparison report paints a clear picture of a fast-moving, high-demand landscape. With the rise of artificial intelligence and machine learning accelerating infrastructure requirements, the global data centre industry is undergoing one of its most intense growth periods yet.

This article explores the report’s key takeaways—from the rise of emerging markets to the challenges of power availability and committed capacity—offering a snapshot of where the market stands today and where it’s heading next.

“If the global data center industry in 2024 could be summed up in two words, they would be “accelerated growth.” The industry experienced rapid expansion throughout the year, a trend expected to continue into 2025 and 2026. Artificial intelligence (AI) and machine learning (ML), which gained prominence in 2022, are key drivers of this demand now and into the future.”

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Contents

1. Emerging markets gain steam
2. Established markets march on
3. The 1GW+ club
4. 100% capacity claimed
5. Low vacancy across the board

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1. ‘Emerging markets gain steam’

The first key takeaway from this report is that interest is growing in emerging markets as power becomes the number one priority: “The best place to build a data center is wherever the required power can be secured.” 

Hyperscalers are setting the pace by being the first to act in emerging markets like Austin/San Antonio, Iowa, Pennsylvania, and Abu Dhabi.   

“A key industry trend is growing interest in emerging markets, as power delivery timelines in established markets lengthen, redirecting some traffic toward areas where power is more plentiful, land availability is a lesser concern, and economics are more favorable.” 

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2. ‘Established markets march on’

Even though there is growing interest in emerging markets, established markets are still experiencing high demand. Globally, the top six established markets are all in the USA; Virginia holds the top spot with Phoenix, Dallas, Atlanta, Oregon, and Columbus following suit. In fact, the only two non-US markets in this list are Beijing and Shanghai, at number seven and ten respectively. 

“Despite the growing interest in emerging markets, established markets still capture the bulk of data center activity, often boasting significantly larger development pipelines.” 

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3. The 1GW+ club

Globally, 13 markets boast operational capacities exceeding 1GW:

This ranking by operational capacity reflects past demand in these regions and gives us an idea of market maturity. These markets will typically have solid infrastructure and experienced construction and operations talent. 

For context, 1GW could power approximately 3.3 million HD movie streams at once – enough for every person in Iowa to watch Netflix simultaneously. 

“AI has essentially become a rock to the data center windshield—its initial impact is undeniable, with effects rippling across all facets of the industry”

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4. 100% capacity claimed

There are nine markets where 100% of capacity currently under construction was already committed, including Berlin, Iowa, Milan, and Montreal, and two where planned markets showed the same, Dammam and Indianapolis. 

Virginia and Atlanta are the only markets in the world with more than 1GW currently under construction. 

“Across the Americas, the prelease rate for capacity under construction is 76% when excluding hyperscale self-builds and 83% when including them.” 

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5. Low vacancy across the board

Currently, only eight individual data centers offer 20MW or more of available capacity in a single data center – these are in NY-NNJ, Poland, Johannesburg, Beijing, Shanghai, and Guanzhou.  

While vacancy rates don’t paint the full picture of a market’s performance, they do indicate a market with development potential. The report states that there are seven markets globally with extremely tight vacancy – below 1%, including Oregon, Frankfurt, Las Vegas, Salt Lake City, and Abu Dhabi. 

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The message from the Global Data Center Market Comparison is clear: whether it’s hyperscalers pushing into emerging territories or established markets racing to meet demand, the global data centre industry is operating at full tilt. Power, scale, and speed are defining success in 2024 and beyond. As the industry continues to evolve under the pressure of AI and digital transformation, those who can secure power and move fast will lead the charge.