1h Free Analyst Time
The Iceland data center market is expected to grow at a CAGR of 9.38% from 2024 to 2031. Speak directly to the analyst to clarify any post sales queries you may have.
ICELAND DATA CENTER MARKET - KEY HIGHLIGHTS
- Iceland’s political and economic stability, combined with its membership in the European Economic Area (EEA) and alignment with the GDPR, provides strong legal frameworks and data governance protections that are attractive to global enterprises.
- Reykjavik is the top data center destination in the country. It remains Iceland’s leading hub for data center expansion, characterized by concentrated growth in advanced facilities, hyperscale data centers, and dedicated cloud regions.
- As of 2025, the construction cost of data centers in Iceland ranges from $9 million to $11 million per MW. However, these costs are expected to increase annually due to various factors, including supply chain issues, inflation, and rising interest rates.
- As of December 2025, Iceland hosted seven operational data centers, with established providers such as atNorth, Borealis Data Center and Verne Global maintaining a presence in the country.
- Although Iceland’s total number of data centers remains modest compared to major hubs such as Sweden Denmark and Norway, its growth trajectory and strategic advantages are attracting global attention from operators looking for sustainable alternatives.
WHY SHOULD YOU BUY THIS RESEARCH?
- Market size available in the investment, area, power capacity, and Iceland colocation market revenue.
- An assessment of the data center investment in Iceland by colocation, hyperscale, and enterprise operators.
- Data center investments in the area (square feet) and power capacity (MW) across cities in the country.
- A detailed study of the existing Iceland data center market landscape, an in-depth industry analysis, and insightful predictions about the Iceland data center market size during the forecast period.
- Snapshot of existing and upcoming third-party data center facilities in Iceland
- Facilities Covered (Existing): 07
- Facilities Identified (Upcoming): 02
- Coverage: 5 Cities
- Existing vs. Upcoming (Data Center Area)
- Existing vs. Upcoming (IT Load Capacity)
- Data center colocation market in Iceland
- Colocation Market Revenue & Forecast (2022-2031)
- Retail & Wholesale Colocation Revenue (2022-2031)
- Retail & Wholesale Colocation Pricing
- Iceland data center landscape market investments are classified into IT, power, cooling, and general construction services with sizing and forecast.
- A comprehensive analysis of the latest trends, growth rate, potential opportunities, growth restraints, and prospects for the industry.
- Business overview and product offerings of prominent IT infrastructure providers, construction contractors, support infrastructure providers, and investors operating in the industry.
- A transparent research methodology and the analysis of the demand and supply aspect of the market.
ICELAND DATA CENTER MARKET VENDOR LANDSCAPE
- The market is led by three major operators - atNorth, Verne Global, and Borealis Data Center.
- In March 2024, a global investment firm, Ardian, acquired 100% of the data center platform, Verne Global, from Digital 9 Infrastructure plc. The deal had an equity value of approximately $575 million. This acquisition marks Ardian's entry into the data center infrastructure sector and aligns with its broader strategy to invest in digital infrastructure and sustainable computing platforms.
- The entry of several other global and regional players will increase the competition in the market. In August 2025, GIGA-42 Holdings Limited signed a new memorandum of understating with Global InterConnection Group for the development of new 50MW data center in Bakki, Húsavík.
IT Infrastructure Providers
- Broadcom
- Cisco
- Dell Technologies
- Hewlett Packard Enterprise
- Huawei Technologies
- Hitachi Vantara
- IBM
- Lenovo
- NetApp
- NVIDIA
Data Center Construction Contractors & Sub-Contractors
- COWI
- Mannverk
Support Infrastructure Providers
- Alfa Laval
- Carrier
- Eaton
- Legrand
- Schneider Electric
- Socomec
- STULZ
- Vertiv
Data Center Investors
- atNorth
- Borealis Data Center
- Verne Global (Ardian)
New Entrants
- GIGA-42
EXISTING VS. UPCOMING DATA CENTERS
- Existing Facilities in the region (Area and Power Capacity)
- Reykjavik
- Other Cities
- List of Upcoming Facilities in the region (Area and Power Capacity)
- Reykjavik
- Other Cities
The segmentation includes:
- IT Infrastructure
- Servers
- Storage Systems
- Network Infrastructure
- Electrical Infrastructure
- UPS Systems
- Generators
- Transfer Switches & Switchgears
- PDUs
- Other Electrical Infrastructure
- Mechanical Infrastructure
- Cooling Systems
- Rack Cabinets
- Other Mechanical Infrastructure
- Cooling Systems
- CRAC & CRAH Units
- Chiller Units
- Cooling Towers, Condensers & Dry Coolers
- Other Cooling Units
- General Construction
- Core & Shell Development
- Installation & Commissioning Services
- Engineering & Building Design
- Fire Detection & Suppression Systems
- Physical Security
- Data Center Infrastructure Management (DCIM)
- Tier Standard
- Tier I & Tier II
- Tier III
- Tier IV
KEY QUESTIONS ANSWERED
1. How big is the Iceland data center market?2. How much MW of power capacity will be added across Iceland in 2031?
3. What factors are driving the Iceland data center market?
Table of Contents
Chapter 1: Existing & Upcoming Third-Party Data Centers in Iceland
Chapter 2: Investment Opportunities in Iceland
Chapter 3: Data Center Colocation Market in Iceland
Chapter 4: Market Dynamics
Chapter 5: Market Segmentation
Chapter 6: Tier Standards Investment
Chapter 7: Key Market Participants
Chapter 8: Appendix
Companies Mentioned
- Broadcom
- Cisco
- Dell Technologies
- Hewlett Packard Enterprise
- Huawei Technologies
- Hitachi Vantara
- IBM
- Lenovo
- NetApp
- NVIDIA
- COWI
- Mannverk
- Alfa Laval
- Carrier
- Eaton
- Legrand
- Schneider Electric
- Socomec
- STULZ
- Vertiv
- atNorth
- Borealis Data Center
- Verne Global (Ardian)
- GIGA-42
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 89 |
| Published | April 2026 |
| Forecast Period | 2025 - 2031 |
| Estimated Market Value ( USD | $ 449 Million |
| Forecasted Market Value ( USD | $ 769 Million |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Iceland |
| No. of Companies Mentioned | 24 |
