Green Data Center Market Size
Rise in green data center complexities due to scalability and surge in the expenditure on green data center technology are key factors driving the market growth
WILMINGTON, DE, UNITED STATES, November 18, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, ” Growing at a CAGR of 20.1% | The Global Green Data Center Market Size Reach USD 303.9 Billion by 2031 . The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
Rise in green data center complexities due to scalability and surge in the expenditure on green data center technology during the forecast period, hence empowering the demand for green data center market. Moreover, surge in penetration of high-end cloud computing in enterprise during the period has positively impacted green data center industry. However, concerns regarding data security and privacy are anticipated to hamper the green data center market during the forecast period. On the contrary, the rise in adoption of multi-cloud and network upgrade to support 5G technology is expected to offer remunerative opportunities for the expansion of the green data center market forecast.
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The global green data center market size was valued at $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.
A green data center is a repository for the storage, management and dissemination of data in which the mechanical, lighting, electrical and computer systems are designed to maximize energy efficiency and minimize environmental impact. The construction and operation of a green data center includes advanced technologies and strategies.
Region wise, the green data center market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its higher expenditure on technological solutions However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the growth in number of startups and the expanding infrastructure in the region, which is expected to fuel the growth of the green data center industry in the region during the forecast period.
The key players profiled in the green data center market analysis are 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 and ZutaCore. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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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 enterprise size, the large enterprises segment dominated the global market in 2021, and is expected to continue this trend during the forecast period as green data center technology offers numerous benefits for large enterprises, boosting growth of the green data center market. Conversely, the small- & medium-sized enterprises segment is expected to grow at the highest CAGR during the forecast period, owing to surge in adoption of green data center services, as it provides effective and efficient energy solution for SMEs.
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.
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The global green data center market has been significantly impacted by the COVID-19 outbreak. Production and manufacturing facilities across the globe have been shut down, owing to the outbreak of the global health crisis and unavailability of workforce. This has further impacted the global economy, and is causing economic hardship for business and communities, globally. Countries across the globe have suffered major loss in terms business and revenue, owing to lockdown and lack of availability of raw material across the world. Production, BFSI, and manufacturing sectors globally have been heavily impacted by the outbreak of the COVID-19 disease, which, in turn, led to economic downfall, thereby declining the growth of the green data center market in 2021.
COVID-19 has enforced the global green data center industry to make short-term decisions with long-term implications. However, the negative impact caused by COVID-19 on global green data center is expected to continue for a short period. Conversely, by mid-2021, the market is anticipated to witness robust recovery due to extensive demand for consumer electronics. In addition, the ongoing pandemic is expected to escalate the need for high-end cloud computing services, which is expected to drive the need for green data center solution.
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