马来亚银行：2024年东盟数据中心研究报告：乘数据中心长周期发展浪潮（英文版）

Conflux of positive factors creating a perfect storm We expect data centre demand in ASEAN to increase at 20% CAGR and a potential data centre TAM of USD11b/year till 2028. Our high expectations is underscored by: 1) ASEAN is 55-70% underpenetrated in data centre supply vs more evolved markets like the US, China, South Korea and Japan; 2) rise of AI adding another leg of data centre demand growth, which also helps ASEAN companies in the global supply chain; 3) geopolitics, conducive upstream