India’s commercial capital with its 2,337 MW capacity is among the top three data center markets in the region along with Shanghai’s 2,692 MW and Tokyo’s 2,575 MW capacity, showed a Knight Frank study.
Mumbai is the only city from India in the study and has emerged as the standout growth story of March quarter, with the market’s total capacity expansion surpassing the 2,000MW milestone.
Over 328MW of capacity was added, driven by announcements from existing players and a new market entrant, Digital Edge, a Stonepeak-backed operator set to deliver a hyperscale facility to the market.
“The data centre sector has witnessed a remarkable acceleration in recent years, driven by the exponential growth of internet usage across commerce, social media, entertainment, and cloud adoption… As a representative of India’s growing data centre landscape, Mumbai has emerged as a key beneficiary with significant growth in its total capacity,” said Shishir Baijal, CMD, Knight Frank India.
As data centres gain prominence as an asset class in the country, investors are leveraging various strategies such as mergers and acquisitions, joint ventures, and land acquisitions to tap into this thriving sector.
Supply movements have moderated compared to previous quarters, with over 40% of its current live capacity absorbed throughout 2022. The operational capacity stood at 270 MW with over half of the total capacity in the early stage at 1272 MW, and 11.55% of its capacity in the live segment, showed the study.NTT- Netmagic and CtrlS constitute just over half of the operational capacity in the market currently.
The study focuses on nine rapidly emerging markets in the Asia Pacific Region, namely – Bangkok, Hong Kong, Kuala Lumpur, Mumbai, Seoul, Shanghai, Singapore, Sydney, and Tokyo. Shanghai, Tokyo, Sydney, Singapore, and Hong Kong have a high percentage of their capacity in the live segment indicating higher level of commissioning and demand.
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