2025年全球数据中心市场比较

CUSHMAN & WAKEFIELD | DATA CENTER ADVISORY GROUPContentsRegionalGrowthPower Still Paramount,Pipeline Becomes KeyIncluded MarketsIntroduction to the RankingsInvestment LandscapeEmerging Markets Gain Steam,Established Markets March OnEstablished & EmergingMarket Rankings 3456789 CUSHMAN & WAKEFIELD | DATA CENTER ADVISORY GROUPRegionalGrowth•Development pipelineexcludes early stageprojects•Vacancy is only calculatedon Operational ColocationCapacity•The size of the bubbledirectly correlates to thesize of the regional marketsTotal capacity is expectedto continue its growthacross regions, with eachexpected to double or morewith current pipelinesunderway.KEY ASSUMPTIONS: •Operational Capacity: 12,206MWoColocation: 10,424MWoHyperscale: 1,782MW•Vacancy: 12.4%•Under Construction: 3,087MWoColocation: 2,668MWoHyperscale: 419MW•Planned: 11,252MWoColocation: 9,784MWoHyperscale: 1,468MW •Operational Capacity: 20,562MWoColocation: 12,269MWoHyperscale: 8,293MW•Vacancy: 4.9%•Under Construction: 6,423MWoColocation: 4,597MWoHyperscale: 1,827MW•Planned: 46,077MWoColocation: 42,118MWoHyperscale: 3,959MW •Operational Capacity: 9,582MWoColocation: 6,753MWoHyperscale: 2,464MW•Vacancy: 8.0%•Under Construction: 2,935MWoColocation: 2,303MWoHyperscale: 612MW•Planned: 8,839MWoColocation: 7,580MWoHyperscale: 1,191MW CUSHMAN & WAKEFIELD | DATA CENTER ADVISORY GROUPPower Still Paramount,Pipeline Becomes KeyIf the global data center industry in 2024 could besummed up in two words, they would be“accelerated growth.”The industry experiencedrapid expansion throughout the year, a trendexpected to continue into 2025 and 2026. Artificialintelligence (AI) and machine learning (ML), whichgained prominence in 2022, are key drivers of thisdemand now and into the future. While AI and MLare not the sole factors fueling data center growth,nor do they diminish the steady demand fromfoundational demand drivers like cloud computing,and data generation and storage, they act aspowerful catalysts. Their widespread adoptionacross industries significantly contributes to the“accelerated” nature of this growth, driving theaggressive demand for its related services andinfrastructure. AI has essentially become a rock tothe data center windshield—its initial impact isundeniable, with effects rippling across all facets ofthe industry. The rising demand, emergence of newtypes of data center workloads, rapid absorption ofexisting and under-construction inventory,increased rack densities, advancements in coolingsystems, innovations, and data center redesignscan all be directly attributed to AI.Power availability remains the chief concern in thedata center industry, and the best place to build adata center is wherever the required power can besecured. This holds true not only in the Americasbut also globally. A key industry trend isgrowinginterest in emerging markets, as power deliverytimelines in established markets lengthen,redirecting some traffic toward areas wherepower is more plentiful, land availability is a lesserconcern, and economics are more favorable.However, this is not to say that mature markets likeVirginia, Tokyo or London lack demand—theseestablished markets remain highly desirable. Butpower constraints are a significant roadblock fornew development, with substantial proportions ofthe construction pipeline in many establishedmarkets already committed before completion.While power availability and capacity in the datacenter construction pipeline are key factors inidentifying the top data center markets worldwide,the 2025 edition of Cushman & Wakefield’s GlobalData Center Market Comparison analyzes 20 criticalvariables tailored to hyperscale and colocationoperators, occupiers and developers across 97global data center markets.INTRODUCTION $7.8$9.9$2.2$36.7$B$10B$20B$30B$40B$50BNon-AI Global ColocationAI DemandCloud & AI driving demand for power,increasing server densities, coolingrequirementsForecasted Annual Cloud & AI Revenues 2020-202902040608010012014020212022202320242025Average Server Rack Density Ranges (kw / rack)Source: Cushman & Wakefield Research, Structure Research CUSHMAN & WAKEFIELD | DATA CENTER ADVISORY GROUPAs the data center industry evolved throughout 2024, so too didCushman & Wakefield’s market ranking methodology. The 2025Global Data Center Market Comparison ranking system has beenrefined to reflect the variables most relevant to the industry today.While all variables from last year’s report remain, the followingupdates have been made:•The development pipeline is now segmented into “underconstruction” and “planned.”•A prelease rate has been calculated for each developmentpipeline segment and included for all markets.•A general operator presence metric has been added, reflectingthe number of different operators in a market.•Variables have been grouped into four categories to betterillustrate their inter relationships.As the industry continues to evolve—fueled by increased AIadoption, growing demand for cloud computing and the exp