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Report
Iceland Data Center Market - Investment Analysis & Growth Opportunities 2025-2030
Market Report I 2025-07-25 I 89 Pages I Arizton Advisory & Intelligence
The Iceland data center market size is expected to grow at a CAGR of 11.39% from 2024 to 2030.
KEY HIGHLIGHTS
- The Iceland data center market growth is driven by several factors, including the presence of bitcoin miners, high power reliability, the presence of green energy, suitable climatic conditions, high internet and social media penetration, strong inland and submarine cable connectivity, and a strong regulatory framework.
- Reykjavik is the data center destination in the country. The city is marked by a concentrated growth in advanced facilities, hyperscale data centers, and dedicated cloud regions. As of January 2025, the industrial price of land in Reykjavik, Iceland, ranged between $4,500-$7,000 per sq m. Furthermore, Akureyri & Northern Iceland region also have a lower entry price than Reykjavik, along with a quality infrastructure.
- As a European Economic Area (EEA) member, Iceland provides tariff-free access to the EU market, paired with World Trade Organization (WTO) membership, 50+ double tax treaties, and trade agreements. It offers a reduced corporate tax rate as compared to Organisation for Economic Co-operation and Development (OECD) countries, which plays a significant role in attracting investments in the Iceland data center market.
- According to a report by the Ministry and Statistics Iceland, effective adoption of AI in Iceland could add between USD 1.42 billion and USD 11.83 billion to the economy of Iceland by 2029, depending on how quickly and widely AI is used.
- Data center operators in Iceland consistently achieve low PUE ratios, between 1.1 and 1.2, far below the global average (1.57), showcasing top-tier energy efficiency.
SEGMENTATION ANALYSIS:
- IT Infrastructure
o Server Infrastructure
o Storage Infrastructure
o Network Infrastructure
- Electrical Infrastructure
o UPS Systems
o Generators
o Switches & Switchgears
o PDUs
o Other Electrical Infrastructure
- Mechanical Infrastructure
o Cooling Systems
o Rack Cabinets
o Other Mechanical Infrastructure
- Cooling Systems
o CRAC and CRAH
o Chillers
o Cooling Towers, Condensers, and Dry Coolers
o Other Cooling Units
- General Construction
o Core & Shell Development
o Installation & commissioning Services
o Building & Engineering Design
o Fire Detection & Suppression Systems
o Physical Security
o Data Center Infrastructure Management (DCIM)
- Tier Standard
o Tier I & Tier II
o Tier III
o Tier IV
WHY SHOULD YOU BUY THIS RESEARCH?
- Market size available in the investment area, power capacity, and the Iceland colocation market revenue.
- 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 market 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
o Facilities Covered (Existing): 08
o Facilities Identified (Upcoming): 02
o Coverage: 4+ Locations
o Existing vs. Upcoming (Data Center Area)
o Existing vs. Upcoming (IT Load Capacity)
- Data center colocation market in Iceland
o Colocation Market Revenue & Forecast (2021-2030)
- The 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 aspects of the industry.
ICELAND DATA CENTER MARKET VENDOR LANDSCAPE
- In the current landscape of colocation investors, several established companies play a significant role. Notable players in the Icelandic data center market include atNorth, Borealis Data Center, and Verne.
- atNorth and Borealis, utilize direct-air cooling at their facilities to bring down the temperature of their units.
- As of 2025, there is no direct presence of major hyperscalers in the Icelandic data center market. However, growing investment, 100% renewable energy, excellent global connectivity, and favorable climate conditions position Iceland as a strong candidate for future hyperscale expansion.
EXISTING VS. UPCOMING DATA CENTERS
- Existing Facilities in the region (Area and Power Capacity)
o Reykjavik
o Other Cities
- List of Upcoming Facilities in the region (Area and Power Capacity)
o Reykjavik
o Other Cities
IT Infrastructure Providers
- Broadcom
- Cisco
- Dell Technologies
- Hewlett-Packard Enterprise
- Huawei Technologies
- Hitachi Vantara
- IBM
- Lenovo
- NetApp
Data Center Construction Contractors & Sub-Contractors
- AVH
- Blikk & Taekni
- COWI
- Perago Bygg
- Rafeyri
- Raftakn
Support Infrastructure Providers
- Alfa Laval
- Carrier
- Eaton
- Legrand
- Schneider Electric
- Socomec
- STULZ
- Vertiv
Data Center Investors
- atNorth
- Borealis Data Center
- Verne
KEY QUESTIONS ANSWERED:
1. How big is the Iceland data center market?
2. How much MW of power capacity will be added across Iceland during 2025-2030?
3. What is the growth rate of the Iceland data center market?
4. What factors are driving the Iceland data center market?
1. EXISTING & UPCOMING THIRD-PARTY DATA CENTERS IN ICELAND
1.1. Data Center Snapshot
1.2. Data Center Snapshot by Cities
1.3. Existing & Upcoming Data Center Supply in Iceland
1.4. List of Upcoming Data Center Projects in Iceland
2. INVESTMENT OPPORTUNITIES IN ICELAND
2.1. Microeconomic & Macroeconomic Factors for Iceland Market
2.2. Impact of the Ongoing Tariff War
2.3. Investment Opportunities in Iceland
2.4. Digital Data in Iceland
2.5. Investment by Area
2.6. Investment by Power Capacity
3. DATA CENTER COLOCATION MARKET IN ICELAND
3.1. Colocation Services Market in Iceland
4. MARKET DYNAMICS
4.1. Market Enablers
4.2. Market Trends
4.3. Market Restraints
5. MARKET SEGMENTATION
5.1. IT Infrastructure: Market Size & Forecast
5.2. Electrical Infrastructure: Market Size & Forecast
5.3. Mechanical Infrastructure: Market Size & Forecast
5.4. General Construction: Market Size & Forecast
5.5. TIER STANDARD INVESTMENT
5.5.1. Tier I & II
5.5.2. Tier III
5.5.3. Tier IV
6. KEY MARKET PARTICIPANTS
6.1. IT Infrastructure Providers
6.2. Construction Contractors & Sub-contractors
6.3. Support Infrastructure Providers
6.4. Data Center Investors
7. APPENDIX
7.1. Market Derivation
7.2. Data Center Site Selection Criteria
7.3. Quantitative Summary
LIST OF EXHIBITS
Exhibit 1: Iceland Data Center Market: Historical vs Present & Forecast
Exhibit 2: Iceland Data Center Market Snapshot
Exhibit 3: Existing and Upcoming Third-party Data Centers Investment in the Iceland (Thousand Square Feet & MW)
Exhibit 4: Reciprocal Tariffs Imposed by the U.S. in some of Key Countries
Exhibit 5: Tariffs Imposed on the U.S. Imports by Key Trade Partners
Exhibit 6: Iceland Data Center Market Investment: Market Size & Forecast ($ Million)
Exhibit 7: Digital Data in the Iceland
Exhibit 8: Iceland Data Center Market Area: Market Size & Forecast (Million Square Feet)
Exhibit 9: Iceland Data Center Market Power Capacity: Market Size & Forecast (MW)
Exhibit 10: Iceland Data Center Market Colocation Revenue: Market Size & Forecast ($ Million)
Exhibit 11: Iceland Data Center Market by IT Infrastructure: Market Size & Forecast ($ Million)
Exhibit 12: Iceland Data Center Market by Electrical Infrastructure: Market Size & Forecast ($ Million)
Exhibit 13: Iceland Data Center Market by Mechanical Infrastructure: Market Size & Forecast ($ Million)
Exhibit 14: Iceland Data Center Market by Cooling Systems: Market Size & Forecast ($ Million)
Exhibit 15: Break Up of Data Center Construction Cost
Exhibit 16: Iceland Data Center Market by General Construction: Market Size & Forecast ($ Million)
Exhibit 17: Iceland Data Center Market by Tier Standards: Market Size & Forecast ($ Million)
LIST OF TABLES
Table 1: List of Upcoming Data Center Projects in the Iceland
Table 2: Iceland Data Center Market Size & Forecast (2021-2030)
Table 3: Iceland Data Center Market by Infrastructure ($ Million) (2021-2030)
Table 4: Iceland Data Center Market by IT Infrastructure ($ Million) (2021-2030)
Table 5: Iceland Data Center Market by Electrical Infrastructure ($ Million) (2021-2030)
Table 6: Iceland Data Center Market by Mechanical Infrastructure ($ Million) (2021-2030)
Table 7: Iceland Data Center Market by Cooling Systems ($ Million) (2021-2030)
Table 8: Iceland Data Center Market by General Construction ($ Million) (2021-2030)
Table 9: Iceland Data Center Market by Tier Standards ($ Million) (2021-2030)
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