Green Data Center Market Size
Surge in need for scalability, and increase in expenditure on green data center technology drive the global green data center market.
PORTLAND, PORTLAND, OR, UNITED STATES, February 8, 2024 /EINPresswire.com/ -- As per the report, the global green data center industry generated $49.7 billion in 2021, and is projected to reach $303.9 billion by 2031, growing at a CAGR of 20.1% from 2022 to 2031.
Green Data Centers are defined as facilities dedicated to maximizing energy efficiency and minimizing environmental impact in storing and managing data. These centers utilize advanced technologies for data storage, management, and operations.
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The growth of the Green Data Center market is driven by factors such as the increasing adoption of high-end cloud computing in enterprises, the growing complexity of green data centers due to scalability, and the rising investment in green data center technology. However, challenges such as concerns about data privacy and the growing demand for managed services impede market growth. On the other hand, opportunities for industry growth are presented by the increasing adoption of multi-cloud solutions and network upgrades to support 5G technology.
Covid-19 scenario:
• The Covid-19 outbreak significantly affected the market. Manufacturing and production facilities across the globe were shut during the pandemic. This negatively impacted the global economy and created challenges for businesses and communities.
• Several countries suffered major losses in terms of business and revenue due to lack of raw materials and disruption of the supply chain.
• In addition, the pandemic enforced the industry to make short-term decisions that have long-term implications. Thus, the negative impact on the market is expected to continue for a short period.
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By component, the solution segment held the lion's share in 2021, accounting for nearly three-fifths of the global green data center market, as green data center solutions are effective and environmentally friendly in terms of data storage and energy consumption. However, the services segment is projected to portray the highest CAGR of 21.2% during the forecast period, due to surge in adoption of professional services for integration and deployment of green data center solutions.
By industry vertical, the media and entertainment segment is anticipated is estimated to register the highest CAGR of 24.0% from 2022 to 2031. This is due to increase in storage demand and increase in data traffic in the media & entertainment industry. However, the BFSI segment held the lion's share in 2021, contributing to more than one-fifth of the global green data center market, due to need for sustainable data management.
By enterprise size, the large enterprises segment dominated the market in terms of revenue generation in 2021, accounting for more than half of the global green data center market. This is due to adoption of green data center by large enterprises for efficient and cost-effective energy. However, the small and medium-sized enterprise segment is projected to register the highest CAGR of 21.3% during the forecast period, due to rapid innovation and technological investments by SMEs.
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By region, the global green data center market across North America held the largest share in 2021, accounting for nearly two-fifths of the market, due to infrastructure development and technology adoption in countries such as the U.S. and Canada. However, the market across Asia-Pacific is anticipated to register the highest CAGR of 24.7% during the forecast period, due to rise in digital and economic transformation in the region.
Key market players:
• ABB LTD
• Cyber Power Systems
• Dell Technologies Inc.
• Delta Electronics, Inc.
• Digital Realty Trust, Inc.
• Eaton Corporation
• Hewlett-Packard
• Huawei Technologies
• IBM Corporation
• NEC Corporation
• Nortek Air Solutions
• NTT Corporation
• Schneider Electric
• ZutaCore
The report analyzes these key players of the global green data center market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, product portfolio, and developments by every market player.
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