Greek data centre market to surpass investment of $1.21 billion in 2028

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According to a new Arizton research report, the Greek data centre market is expected to grow at a CAGR of 8.78 per cent during the period between 2022 and 2028.

Greece is one of the growing countries in technological development and innovation. With the end of 12 years of EU fiscal surveillance, economic reforms are expected to lead to economic stability for the country. The market is witnessing significant investments due to the increasing adoption of cloud services, the advent of AI/ML technologies, and government support for data centre development.

The Greece data centre construction market is driven by factors such as land price and stability, free cooling options during peak winters, carrier accessibility, accessibility of connectivity and power, and tax incentives.

In Greece, around 13 megawatts (MW) of capacity was added in 2022. Digital Realty and Microsoft will add over 25 MW of power capacity. The country’s Cumulative Power Capacity Addition (2023 to 2028) is around 139 MW.

Digital Realty and Google were the major investors in 2022, along with the opening of Digital Realty – Lemda Helix and Lancom data centres in the same year. Additionally, the smart cities initiative by the government of Greece has proved to be a major booster for ICT, AI & ML, big data, and other innovative technology. The country has seen huge data generation, which is likely to boost the demand for data centres across the country.

As of 2022, Athens has been the country’s major data centre hub. The city witnessed major investments in the past and is expected to experience more investments in the future.

In April 2022, Enterprise Greece, a government agency in Greece, approved a project by Microsoft worth $110 million. This project is designed to help businesses in Greece by providing technical support and cloud computing services.

In July 2022, Optima Bank of Greece collaborated with Accenture to build a cloud-based data storage system that will help the bank analyse information from different parts of the business. This will also allow the bank to offer customised banking services for a better customer experience.

In 2021, AWS opened its first office in Athens, Greece. This is part of AWS’s investment in Greece to support the country’s increasing number of customers and partners. They are expanding their team to provide better services to the people of Greece.

In addition, AWS launched an edge location in Athens, which provides the country with advanced technologies such as Amazon CloudFront, AWS Shield, AWS WAF, and Lambda@Edge. EOPYY, the Greek National Organization for the Provision of Health Services, achieved a 40 per cent performance boost and 25 per cent cost reduction by migrating 12 critical workloads to Oracle Exadata Cloud@Customer (transfer of business-critical Oracle Database workloads to the cloud).

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