Jakarta, INTI - Indonesia’s data center industry is entering the early stages of a major growth cycle, with significant expansion potential ahead. National data center capacity, currently estimated at around 580 megawatts (MW), is projected to surge to 3.5 gigawatts (GW) by 2030.
This rapid growth presents opportunities for local listed companies to capitalize on rising demand for digital infrastructure, particularly through the development of new facilities and partnerships with global operators.
BRI Danareksa Sekuritas Equity Research Analysts Kafi Ananta and Erindra Krisnawan said Indonesia’s installed IT data center capacity stood at approximately 580 MW in the first half of 2026.
The figure could increase more than sixfold over the next four years. “Local issuers remain in the early stages of the data center growth cycle, with a substantial capacity pipeline that provides significant room for future expansion,” Kafi and Erindra wrote in a research report on Friday, August 21, 2026.
According to the analysts, PT Telkom Indonesia Tbk (TLKM), PT Indosat Tbk (ISAT), PT Dian Swastatika Sentosa Tbk (DSSA), and PT DCI Indonesia Tbk (DCII) have the largest direct exposure to the country’s data center growth.
Telkom Indonesia Expands Data Center Footprint
Telkom Indonesia is developing its data center business through NeutraDC. Kafi said NeutraDC currently has approximately 90.4 MW of capacity and aims to increase this figure to 300 MW by 2030.
NH Korindo Sekuritas analyst Leonardo Lijuwardi views Telkom’s continued efforts to optimize its fiber optic, telecommunications tower, and data center assets as a strategic catalyst for the company.
He said the expansion could potentially drive a medium-term rerating of TLKM shares. Leonardo maintained a Buy recommendation on TLKM, with a target price of Rp3,700 per share.
Meanwhile, Indosat’s exposure to the data center industry comes from its 25% stake in BDx Indonesia. The company operates edge data centers with a combined capacity of 30 MW across three campuses, as well as a 72 MW hyperscale facility at CGK4 Jatiluhur.
DSSA also has a presence in the data center market, operating 24 edge facilities with a combined capacity of 10 MW.
DCII, meanwhile, remains the local listed company with the strongest focus on data center operations compared with other domestic players.
Beyond the four major companies, BRI Danareksa Sekuritas also highlighted several players that remain in the early stages of development, including PT NexAI Digital Infrastruktur Tbk (MGLV), PT Sinergi Inti Andalan Prima Tbk (INET), and PT Bakrie & Brothers Tbk (BNBR).
For the data center sector, BRI Danareksa Sekuritas recommends Buy ratings for TLKM, with a target price of Rp3,500 per share, and ISAT, with a target price of Rp2,500 per share.
With national data center capacity expected to reach 3.5 GW by 2030, competition to develop new facilities is likely to intensify.
For local listed companies, the current early-growth phase represents an opportunity to rapidly expand capacity and strengthen their positions as Indonesia’s digital economy continues to grow.
Conclusion
Indonesia’s data center industry is entering a high-growth phase, with national capacity projected to reach 3.5 GW by 2030. This expansion creates significant opportunities for local issuers to scale their infrastructure, attract global partnerships, and strengthen their position in Indonesia’s rapidly growing digital economy.
Read more: Telkom Indonesia Strengthens Digital Infrastructure to Support AI Growth