Singapore data centre market to hit $3b by 2032 with 9.53% CAGR

The rising demand for cloud services is a major contributor, Credence Research said.

The Singapore data centre market is projected to expand significantly, growing to US$3b by 2032 from US$1.3b in 2023, reflecting a 9.53% compound annual growth rate (CAGR).

In its report, Credence Research said the rising demand for cloud services is a major contributor, as businesses increasingly shift to cloud-based models to enhance efficiency and scalability.

In particular, many companies in Southeast Asia are adopting cloud solutions to meet their growing digital needs. Additionally, government policies, such as the Infocomm Media Development Authority’s Data Centre Development Blueprint.

Technological advancements, including the rollout of 5G networks and the expansion of e-commerce, are also key growth drivers. The increasing use of Internet of Things devices, artificial intelligence, and smart technologies is generating demand for scalable and efficient data infrastructure.

Sustainability is another significant focus for the Singapore data centre market. With the government promoting greener operations, data centre operators are investing in energy-efficient solutions such as liquid cooling and the integration of renewable energy sources.

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