Shaping the next trillion-dollar data centre boom

As the global data centre market heads toward US$4 trillion by 2030, advisory firm TBH argues that the next frontier is not just scale, but smarter infrastructure that delivers benefits far beyond the data hall.

The Asia-Pacific data centre market has grown at a staggering pace over the past decade, with investment into this segment topping US$15.5 billion in 2024. Globally, that is forecast to climb to US$4 trillion by 2030. With demand for AI, cloud and high-speed connectivity showing no signs of slowing, the opportunity for data centres has never been greater. 

But with growth comes new pressures. The industry is approaching a resource bottleneck, with limits on power and water already reshaping where and how facilities can be built. TBH, an advisory firm that has worked on more than 100 hyperscale developments across the Asia-Pacific region since 2010, actively works with clients to mitigate these risks and move from early-stage start-ups to large-scale international portfolios. 

Led by global data centre lead Rob Hammond, TBH has played a role in some of the sector’s most significant deals, including AirTrunk’s expansion from a start-up in 2016 to a $24 billion juggernaut with facilities across Singapore, Hong Kong, Japan and Malaysia. 

“When AirTrunk first came to us, the market considered five or ten megawatts a large facility,” Hammond says. “AirTrunk wanted to do it at 100 megawatts. Our role was to test whether that vision stacked up and how to manage the risks.” 

TBH is best known for working with clients as a partner rather than an outside adviser. Relationships typically span years, with the team embedded throughout the client’s growth and expansion. That long-term perspective is reinforced by their ability to step in at every stage of a project, from due diligence to execution and, when needed, resolving disputes. 

“We’ve seen what goes wrong across decades of complex infrastructure delivery,” Hammond says. “That experience allows us to anticipate issues before they derail a business case.” That perspective, Hammond adds, is vital as the pressures facing data centres evolve. “Today, projects are measured in the hundreds of megawatts, sometimes even a gigawatt,” he says. 

“The acceleration of AI will increase the demand for power and water tenfold. Every existing facility is trying to become AI-ready, while new ones are being built at the same time. 

“Without new renewable energy and a secure water supply, the growth trajectory simply won’t be sustainable.” 

But Hammond says this is where TBH’s competitive advantage lies. With 60 years of experience across sectors including utilities, transport, energy and defence, the firm draws on lessons from complex infrastructure to help data centres integrate more effectively with the systems around them. They view today’s pressures as not only risks to be managed, but as catalysts for innovation. 

“Data centres shouldn’t only be seen as large users of resources,” Hammond says. “Planned effectively and with the right coordination, they can accelerate renewable generation, strengthen recycled water management, and support shared systems that deliver benefits to both industry and local communities.” 

TBH’s role spans both the technical and the commercial: engaging with contractors on site, financiers in the boardroom and government agencies on approvals. 

The firm’s ability to speak the language of each stakeholder and understand their perspective on what success looks like is central to realising data centres as drivers of long-term value. 

“Integration and sustainability are now the licence to operate,” he says. “Projects that ignore these realities won’t be competitive in the decade ahead.” 

To learn more, visit tbhconsultancy.com