New Delhi, Dec 13 (IANS): The data centre industry in the country is set to register a three-fold growth in revenue to $3.2 billion by 2023-24, according to a JLL report, here on Thursday.

The growth is likely to propel development of additional 7.8 million sqft property for setting up data centre.

The data centre industry provide data storage, computing and other value-added services. To meet the demand arising from data localisation and rising data usage, the Indian data centre industry's capacity is projected to increase to 431 MW in five years from 350 MW in 2018-19, the report said.

It is expected to provide $4.1 billion greenfield investment opportunity in setting up data centres.

Ramesh Nair, JLL India's CEO and Country Head, said: "We are witnessing an increasing interest for data centres from enterprises and investors, both local and global. Businesses around the world continue to work on data consolidation, storage and cloud adoption."

Stating that over the past couple of years, India has seen a spike in demand for data centres, he said, "While a significant share of this demand and opportunity is coming from investors, greenfield acquisitions for co-location and hyper-scale players, and rack migration for corporates offer tremendous business potential."