Green Data Center Market Could See Mounting Shares in the Next Few Years

Pune, India, April 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Green Data Center Market.

Green Data Center Industry Insight

The global Green Data Center Market analysis produces a steady compound annual growth rate (CAGR) from 2024 to 2032 of 32.47%, which is the forecast period. Market Research Future estimates the figures and reveals that the market will witness high growth prospects with USD 272.30 billion in the same future timeframe.

Top Market Drivers

The brisk shift toward renewable energy sources is accelerating the green data center market expansion. The construction and modernization of data center facilities are motivating the market owing to mount in the data being generated, placing a high demand on energy sources to power data centers, and cool them. Such a demand is liable to expand with the expansion of global enterprises, such as Facebook and Amazon, in many regions, across the world. These enterprises are producing massive data each day to study prospective customers and gather data, which is used to study the purchase or usage patterns of customers. All these factors work in favor of the growth of the global green data center market.

The processing of the data saves the costing of the organization that it will have incurred using other methods to study customers’ buying trends. Still, these data processing needs will require a massive energy requirement. As the global server power demand has crossed 30 gig watts, it is conventional to make data operations challenging to function in an economically feasible way for long durations. This is due to the market size that could observe a rise in the usage of non-renewable sources of energy.

Furthermore, more factors such as escalating electricity costs across the world are offering ample opportunities for the market. Data centers require non-renewable energy sources to be converted in the form of electrical energy for their operations. These non-renewable sources embrace fossil fuels, usage of coal, and others to power electricity generators. Furthermore, the expanding data and data processing needs are also projected to mount significantly, requiring higher electricity requirements for data centers. These factors are compelling companies to implement green data centers, with companies utilizing green energy sources despite high initial costs associated with them.

In the last frame, the factor of growing necessitates increasing, storage capacity has emerged as a big chance for every significant enterprise, in the data center and storage space market, as there has been a dependable mount in the number of data-hungry customers and applications. Worldwide, the amount of data is set to grow considerably in the next few years.

Segmentation of Market

The global market for the green data center has further been segmented by the elements of component, organization size, end-user, and vertical.

In terms of components, the green data center market has included hardware (cooling equipment, servers, networking components, and power units) & software.

In terms of organization size, the green data center market has included SMEs & large business enterprises.

In terms of the end-user segment, the green data market has included cloud service providers and collocation providers.

In terms of vertical segment, the green data market has included banking, healthcare & life sciences, IT &telecom, financial services, and insurance, public sector, and others.

Regional Outlook

Regionally, the market has been studied under the critical regions of North America, Europe, Asia-Pacific, and the rest of the world.

North American region is leading the green data center with the largest market share. The incidence of top market players and technology advancements is liable to drive the green data center market in the region. The escalating number of IoT devices also fuels market growth as continuous information is exchanged between these devices. Moreover, the incidence of BFSI, IT and telecommunication, and automation industries, among others, drive the market. The amplified mobile data traffic and storage demand in the current years has surged the stipulate green data center construction. The vast IT infrastructure has impulsed the smart devices market in terms of attractive factors such as high-speed internet.

The region of Asia-Pacific has the fastest increasing market for green data centers. Also, economic growth in Asian countries such as China and India are alluring global players in this region, which leads to augmented investments and accelerated deployment of data centers. Mounting ownership of mobile phones and internet penetration in the region, along with the high utilization of IoT devices, is also on the top in the line of market growth.

Top Market Players

The top market players in the market of the green data center are listed as Dell Corporation(US), IBM Corporation(US), Hitachi (Japan), Cisco Systems(US), Fujitsu (US), HP Development Company (US), Huawei Technologies Co. Ltd. (China), Schneider Electric (France), NEC Corporation of America (US), and ABB Group (Switzerland). Other players in the market also include Equinix, Inc.(US), China Telecom(China), NTT Communications(Japan), Digital Realty Trust(US), and CenturyLink(US).