Ireland is now the fastest-growing data centre market in Europe with more than a billion euro worth of projects planned, according to new industry figures.

A survey of the 12 key countries in Europe for the location of third-party data centres found that Ireland was expanding at the fastest pace, with a growth rate of 121pc.

The “Data Centre Developments in Europe” report, by industry specialist Data Centre Pricing (DCP), found that total capital expenditure on upcoming projects here would be approximately €1.020bn, or 12pc of the total planned €9bn investment in 850,000 metres squared of facilities across the twelve countries. Although the UK is forecast to see marginally the highest increase in data centre space, in terms of percentage growth it is ranked only ninth. Ireland, Italy and Sweden have rapidly closed the gap on Frankfurt, London, Amsterdam and Paris as the locations of choice for high-tech cloud infrastructure facilities.

Much of the planned investment in third-party facilities – where businesses can rent server space to host their cloud computing requirements – will be in six campus-style data centres that are planned by Echelon Data Centres in Dublin and Wicklow, K2 Data Centres in Dublin, and by CyrusOne, also in Dublin.