Green Data Center Market Soars: Sustainable Solutions Drive Growth 2031
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 STATE, May 10, 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.
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.
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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.
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 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.
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.
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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 is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
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