Green Data Center Market Soars to $49.7 Billion in 2021, Set to Reach $303.9 Billion by 2031, Says AMR
The rise in penetration of high-end cloud computing in companies, and a surge in the need for scalability drive the global green data center market.
PORTLAND, PORTLAND, OR, UNITED STATES, December 8, 2023 /EINPresswire.com/ — In a recent report by Allied Market Research titled “Green Data Center Market,” the market size for green data centers reached $49.7 billion in 2021, with an estimated growth to $303.9 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 20.1% from 2022 to 2031.
A green data center is designed to optimize energy efficiency and minimize environmental impact in the storage, management, and dissemination of data. The construction and operation of these centers involve advanced technologies and strategies.
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The rise in penetration of high-end cloud computing in companies, surge in the need for scalability, and increase in expenditure on green data center technology drive the global green data center market. However, rise in demand for managed services and the increase in concerns regarding data privacy hinder the market growth. On the contrary, a rise in demand for multi-cloud and network upgrades to support 5G would open new opportunities in the future.
The increasing complexity of green data centers due to scalability, along with a rise in expenditure on green data center technology, is driving demand during the forecast period. The positive impact of high-end cloud computing adoption in enterprises is contributing to the growth of the green data center industry. However, concerns about data security and privacy may hinder market growth. On the other hand, opportunities arise from the adoption of multi-cloud and network upgrades to support 5G technology.
In terms of enterprise size, large enterprises dominated the market in 2021 and are expected to continue leading, while small- and medium-sized enterprises (SMEs) are anticipated to grow at the highest CAGR. This growth for SMEs is attributed to the increased adoption of green data center services, offering effective and efficient energy solutions.
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By industry vertical, the media and entertainment segment is anticipated to register the highest CAGR of 24.0% from 2022 to 2031. This is due to an 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.
Regionally, North America led the green data center market in 2021, maintaining its position due to higher expenditure on technological solutions. However, the Asia-Pacific region is expected to experience significant growth, driven by the increasing number of startups and expanding infrastructure.
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 forced 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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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 by every market player.
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