Top 15 Reports Shaping Global Data Center Strategy in H1 2025

From AI’s power problem to the $73B M&A wave this is your midyear map for data center investing

Aug 23, 2025

Welcome to Global Data Center Hub. Join investors, operators, and innovators reading to stay ahead of the latest trends in the data center sector in developed and emerging markets globally.

If you’re investing in, building, or regulating data centers, don’t read every report read the right ones.

We sifted through dozens of research papers, policy briefings, and investor notes published in the first half of 2025. Then we ranked them by relevance to operators, investors, and policymakers.

Across the board, three things stood out:

AI is the new power load
Power is the new land
M&A is rewriting the playbook

But there are also critical gaps. Strategic questions no one is answering yet.

This is your field guide to what the smartest minds are saying and what they’re still missing.

Here's what's inside:

A distilled summary of 15 data center reports from H1 2025. No fluff, just the ones that matter
Key trends like AI-driven power loads, record-breaking M&A, and the grid bottleneck reshaping site selection
Areas of consensus and divergence: Why everyone agrees on power as the constraint, but splits on risk, regulation, and hyperscaler impact
What’s still unclear: From sovereign AI infra blueprints to IRR benchmarks and ESG calibration
A practical field guide to where the sector is heading and what the smartest people still haven’t figured out yet

The Top 15 Reports

1. Cushman & Wakefield: Global Data Center Market Comparison

Source: Cushman & Wakefield
This comprehensive global comparison benchmarks key data center markets across power availability, operational capacity, vacancy rates, fiber access, land pricing, and political risk. AI and cloud demand are accelerating growth, but power remains the top constraint in site selection. Regional trends for the Americas, EMEA, and APAC are explored in detail, alongside development pipelines and environmental challenges.

2. Colliers: 2025 Data Center Marketplace

Source: Colliers
Colliers’ 2025 report emphasizes how hyperscale and AI demand are reshaping the landscape, creating historic investment opportunities amid low vacancy and strained infrastructure. Strategic risk management is now critical for both operators and investors navigating the new supply-demand dynamics.

3. JLL: Global Data Center Outlook 2025

Source: JLL
JLL’s global outlook offers a forward-looking perspective on demand drivers, market bottlenecks, and geographic shifts. Key insights include how AI and cloud growth are increasing capacity needs while grid and land limitations challenge future expansion.

4. IEA: Energy & AI

Source: IEA
This IEA report examines the dual role of AI in the energy sector both as a driver of skyrocketing data center electricity demand and as a tool for system-wide efficiency. It highlights infrastructure strain, mineral supply chain risks, and the need for proactive policy frameworks, especially in emerging markets.

5. Deloitte: Nuclear Energy’s Role in Powering Data Center Growth

Source: Deloitte
Deloitte explores nuclear power’s potential to meet escalating data center power demands. While nuclear offers scalability and carbon-free baseload energy, challenges like permitting, waste management, and long development timelines require policy reform and public-private collaboration.

6. iMasons: State of the Digital Infrastructure Industry 2025

Source: iMasons
iMasons’ 2025 report focuses on ecosystem building across the digital infrastructure space. The report fosters industry dialogue through events and research, covering workforce development, sustainability, and the evolving roles of community, policy, and diversity within infrastructure growth.

7. DC Byte: 2025 Global Data Center Index

Source: DC Byte
Using granular, bottom-up data from over 7,500 facilities, DC Byte presents one of the most detailed global snapshots of data center supply. The Americas continue to lead, with notable growth in both core and emerging markets. Satellite imagery and site visits bolster data accuracy.

8. CBRE: Global Data Center Trends 2025

Source: CBRE
CBRE’s Q1 2025 trends report notes a sharp decline in global vacancy (6.6%), spurring aggressive preleasing and price increases, especially in Northern Virginia and Amsterdam. Inventory growth is led by North America (+43%) as AI accelerates demand across regions.

9. Barclays: AI Revolution & Infrastructure Demands

Source: Barclays
Barclays explores how AI’s rise is transforming infrastructure investment. Major challenges include sourcing sustainable power, cooling, land, and materials. The report warns that meeting AI’s infrastructure needs will require balancing scale with sustainability and public accountability.

10. Knight Frank: Data Centres Global Forecast Report 2025

Source: Knight Frank
Knight Frank forecasts robust global growth through 2025, led by AI and hybrid cloud adoption. The report highlights IT capacity expansions and notes constraints like power access and regulatory complexity. Regional outlooks provide localized insights into key trends and risks.

11. Cushman & Wakefield: Asia Pacific Data Centre Investment Landscape

Source: Cushman & Wakefield
This APAC-focused report forecasts the region will overtake the U.S. by 2030, reaching nearly 24 GW of colocation capacity and generating $44 billion in annual rental revenue. Colocation dominates both current (85%) and future (86%) capacity. Key growth opportunities lie in underserved markets such as Malaysia, Thailand, and Japan where demand outpaces supply on a population-per-MW basis.

12. Cushman & Wakefield: Asia Pacific Data Centre Construction Cost Guide

Source: Cushman & Wakefield
This 2025 guide provides detailed construction cost benchmarks for data centers across APAC markets. Rising land and building expenses, limited power access, and AI-driven design shifts are reshaping investment decisions. The guide breaks down costs by data center type and capacity, offering essential intelligence for developers, investors, and operators navigating the region’s rapid digital infrastructure buildout.

13. CBRE: North America Data Center Trends H2 2024

Source: CBRE
CBRE’s H2 2024 report shows North American vacancy rates hitting a record low of 2.6% despite ongoing construction. This extreme scarcity is fueling investor demand, pushing rents higher, and reinforcing data centers as a prime real estate asset class. Supply chain pressures though eased since the pandemic remain a challenge due to global network complexity and rapid tech shifts.

14. Cushman & Wakefield: H1 2025 EMEA Data Centre Market Update

Source: Cushman & Wakefield
This EMEA update highlights expanding capacity in both primary markets (FLAPD cities, Milan) and fast-growing secondary hubs (Helsinki, Oslo). Power, land, and regulatory hurdles remain key challenges, but sustained demand and sustainability goals are driving growth across the region.

15. EUDCA: State of European Data Centres 2025

Source: EUDCA
EUDCA’s inaugural report shows a €100B investment pipeline and €83.8B GDP contribution from colocation data centers in Europe. As AI and cloud drive expansion, power access and sustainability compliance are becoming critical. The FLAP-D, Nordics, and Southern Europe lead regional momentum.

What All These Reports Agree On

AI is driving everything. It’s the dominant force behind demand, investment, and infrastructure redesign.
Power is the bottleneck. Grid constraints, interconnection delays, and energy pricing dominate.
Private capital is scaling fast. PE firms and infra funds are leading the M&A wave.
Land is now secondary to power access. Site selection begins with grid proximity and substation capacity.
Sustainability pressure is rising. ESG standards are tightening, and most players are behind.

Where the Reports Diverge

Geographies emphasized: Global vs. regional focus (Asia-Pacific, EMEA, US Southeast).
Tone on regulation: Some see it as barrier, others as enabler.
Investor outlook: Bullish on M&A vs. cautious on valuations.
Risk framing: Some highlight energy; others prioritize interconnection or latency.
Hyperscaler role: Perceived either as allies or adversaries to national planning.

What’s Still Missing

What does sovereign AI infrastructure actually look like in practice?
Can shared infrastructure models succeed in energy-constrained emerging markets?
What’s the thermal and water impact of GenAI at scale by 2030?
What’s the real IRR spread between hyperscale, colo, and AI-specialized projects?
Are ESG metrics calibrated for AI-intensive infrastructure?

Key Trends

1. AI-Driven Power Demand

Artificial intelligence workloads are now the dominant driver of data center growth, making grid capacity the primary factor in site selection. As power availability overtakes land as the key constraint, operators are adopting modular, hybrid, and behind-the-meter solutions to secure energy supply.

2. M&A Reshaping Ownership

Private equity and infrastructure funds are driving record-breaking consolidation, with $73B in transactions recorded in 2024. Scale, AI-readiness, and hyperscaler relationships have become critical valuation drivers, while emerging markets are increasingly targeted for expansion.

3. Rising Cost Structures

AI-focused design requirements are pushing both capital and operating costs higher, particularly in the Asia-Pacific region. Increased cooling needs, high-density computing, and ESG retrofits are adding financial pressure, making power strategy central to cost management.

Key Opportunities

1. Platform Aggregation

Merging regional operators into AI-ready platforms presents a path to premium valuations and strategic exits. Sovereign wealth funds, hyperscalers, and private equity investors are actively seeking de-risked, large-scale platforms with proven operational capacity.

2. Strategic Power Partnerships

Collaborations with utilities, small modular reactor developers, and hybrid energy providers can accelerate development while meeting ESG requirements. Early movers in secure and sustainable power sourcing are positioned to gain a long-term competitive advantage.

3. Emerging Market Expansion

High-growth secondary hubs in Asia-Pacific and EMEA offer attractive demand-to-capacity ratios and reduced competition. Markets such as Malaysia, Thailand, and the Nordics are emerging as strategic alternatives for hyperscalers seeking geographic diversification.

Key Issues

1. Grid & Interconnection Bottlenecks

Securing grid capacity and interconnection agreements remains the most significant obstacle to timely project delivery. Mismatches between utility readiness and developer timelines are causing multi-year delays across major markets.

2. Policy–Infrastructure Mismatch

Slow regulatory processes, inconsistent permitting frameworks, and misaligned incentives are constraining sector growth. Bridging the gap between policy cycles and the industry’s rapid build pace is essential to unlocking future capacity.

3. Uncalibrated ESG Standards

Current ESG frameworks do not fully account for the water, thermal, and energy demands of AI-intensive operations. Without updated metrics, operators face growing compliance risks and heightened scrutiny from regulators and investors.

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