Press release
Green Data Center Market: Size, Growth, Drivers, Challenges, Opportunities, Shares And Forecast Analysis By 2033
Green Data Center Market
The green data center market size is expected to see rapid growth in the next few years. It will grow to $163.2 billion in 2028 at a compound annual growth rate (CAGR) of 20.0%. The growth in the forecast period can be attributed to edge computing expansion, cloud computing growth, need to reduce carbon footprint, emerging market growth. Major trends in the forecast period include liquid cooling innovations, sustainable materials and design, water-efficient cooling technologies, renewable energy integration.
Market Overview -
The green data center refer to a data repository with mechanical, lighting, electrical, and computer systems that are designed to improve energy efficiency and reduce the environmental effect. Organizations utilize data centers to handle, store and distribute huge amounts of information. Advanced technologies and methods are used in the design and operation of a green data center.
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Rising Energy Demands Of Data Centers Fueling Growth In The Green Data Center Market
The growing energy consumption by data centers is expected to propel the growth of the green data center market. Due to the rising digitalization and regulation, data centers are growing up all over the world requiring increased electricity to operate. The increasing number of data centers is leading to an increase in energy consumption as more power is required to support various data center functions. As the energy consumption increases, it will increase the cost of operation and cause environmental harm. This will drive significant demand for green data centers that are environmentally friendly options with reduced cost of operations as they use renewable energy to operate. For instance, in July 2023, the International Energy Agency, a France-based intergovernmental organization, the combined electricity consumption by Amazon, Microsoft, Google, and Meta more than doubled in 2021, reached approximately 72 terawatt-hours (TWh) in that year, and it is expected to increase in the coming years. Therefore, the growing energy consumption by data centers will drive the growth of the green data center market.
Competitive Landscape -
Major companies operating in the green data center market include Schneider Electric SE, Vertiv Holdings Co., Hewlett Packard Enterprise, Green Revolution Cooling, Midas Green Tech LLC, International Business Machines Corporation, Cisco Systems Inc., Dell Inc., Fujitsu Ltd., Hitachi Ltd., Delta Electronics Inc., Rittal GmbH & Co. KG, Eaton Corporation Plc, Nortek Air Solutions LLC, Airedale International Air Conditioning Ltd., Asetek A/S, Bloom Energy Corporation, Carbon Relay Inc., Chatsworth Products Inc., Cologix Inc., CyrusOne Inc., Digital Realty Trust Inc., Equinix Inc., Green House Data Inc., Iron Mountain Inc., Johnson Controls International plc, Legrand SA, Panduit Corporation, Raritan Inc., Server Technology Inc.
Cloud Services Driving Transformation In The Green Data Center Market
Cloud services are a key trend gaining popularity in the green data center market. Cloud services are a range of services delivered on-demand to businesses through the server over the internet, removing the need for internal infrastructure or hardware. Cloud services also support the existing infrastructure such as a cloud center or facility. Cloud services in green data centers offer the advantage of cloud experience by reducing complexity and maintaining ownership of the data while managing the workload with its functionality. Key players in the market are focusing on providing or implementing cloud services in their offerings to strengthen their market position. For instance, in June 2021, Hewlett Packard Enterprise (HPE), a US-based multinational information technology company introduced new HPE GreenLake cloud services to support critical applications in a variety of industries including 5G, financial services, electronic medical records, analytics, artificial intelligence (AI), and high-performance computing (HPC). These advancements will further strengthen HPE's leadership in offering cloud services anywhere, in a customer's data center, colocation facility, or at the edge. This cloud service transforms and modernizes workloads from data centers to a cloud operating model with optimization and security.
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Key Segments -
The green data center market covered in this report is segmented -
1) By Components: Solutions, Services
2) By Data Center Size: Small and Medium-Sized Data Centers, Large Data Centers
3) By Verticals: BFSI, IT and Telecom, Media and Entertainment, Healthcare, Government and Defense, Manufacturing, Other Verticals
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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