The global boom in the construction of data centers–driven by the growth of generative artificial intelligence (AI) and machine learning–is creating organic growth opportunities for major brokers such as Aon and Marsh.
“Over the next five years, it’s estimated that between 2,000 to 3,000 data centers will be constructed worldwide, and we’re already well on the way to establishing our pre-eminence in this ecosystem as a trusted partner,” said Martin South, president and chief executive officer of Marsh Risk, during an analysts’ call to discuss Marsh’s fourth-quarter and full-year results.
In 2025 alone, South added, Marsh US had the leading market share of the $205 billion in data center construction values, while the company is “the clear leader” in Asia, serving six of the largest foundry businesses, the four largest memory integrated device manufacturers, and the largest semiconductor tool manufacturer.
“The data center opportunity, it is unique; it has never been seen before; it is monumental. It also requires a level of response and complexity that’s beyond what the traditional industry has ever accomplished–just be clear about that,” said Aon Chief Executive Officer Greg Case during an analysts’ call on Q4/FY2025 results.
“This requires real, net new innovation around alternative forms of capital, how we think about risk, how we pool risk, all those pieces,” he said, adding that data center opportunities will reinforce mid-single-digit or greater organic revenue growth.
John Doyle, president and CEO of Marsh, said investment in the digital infrastructure world is expected to hit roughly $3 trillion over the next five years.
Investments
A recent report published by Allianz Commercial quotes statistics from Morgan Stanley that data center investments will hit $3 trillion by 2029, while McKinsey estimates capital outlays of close to $7 trillion by 2030.
“It’s been an area of focus for us for some time,” Doyle said, noting that Marsh has launched a Digital Infrastructure Practice in response to growing demand. (The practice is led by Mike Mathews, global digital infrastructure leader, who was appointed in December 2025.)
The investment in digital infrastructure “comes from lots of different parts of the economy, not just hyperscalers, of course. And so we’ve been focused on it, and we’re quite excited about the investment there,” Doyle added.
Allianz defines “hyperscalers” as the major technology companies, which are spearheading this expansion. “In 2024, hyperscalers globally spent around $210 billion on data center capital expenditures related to AI deployments,” Allianz said.
Dean Klisura, president of Guy Carpenter, Marsh’s reinsurance business, described the digital infrastructure space as providing the single biggest new business opportunity in 2026 for both cedents and reinsurers.