According to a recent study by Persistence Market Research, the green data center market is expected to grow at a CAGR of 14.3% from $69.8 billion in 2022 to $266.6 billion in 2032 becomes. The green data center market is picking up pace in several areas and various companies have expressed interest in installing green data center solutions. In the current environment, companies have started to implement green efforts for their daily IT operations to save money, with green data centers being one of the most prominent initiatives.
Green data center market growth is anticipated to increase owing to benefits such as long-term savings and ROI. As data center electricity consumption, bills and carbon emissions increase, so will the demand for green data centers. Power from renewable energy sources, cooling facilities, energy efficient appliances and management systems are all common components of green data center solutions.
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The cost of building an energy efficient green data center is higher than the cost of building a typical data center. Despite the fact that green data centers have a lower total cost of ownership (TCO) and save money in the long term, higher capital investments are seen as a major impediment in the green data center market.
According to the study by Persistence Market Research , if the electricity price continues to increase at the same rate, the initial return on investment can be realized earlier than forecast in the core market growth.
The demand for efficient data storage and management is growing in response to rapidly growing data traffic.
Green data centers offer environmentally friendly and cost-effective data storage while using less energy. As a result, demand for green data centers is likely to evolve due to the favorable projections for data center storage needs and the growing need to minimize total cost of ownership.
Various governments are actively working to build sustainable, environmentally responsible, energy-efficient and cost-effective data centers. As a result, stringent environmental regulations requiring energy savings will increase demand for green data centers and the liquid cooling market.
Green data centers have found new applications in education and robotics.
The need for green data centers and centralized liquid cooling is likely to increase as a result of COVID-19. This is due to factors such as increased usage of cloud data center services, growing reliance on data center automation, increasing hardware reuse as the top challenge, increased remarketing of data center hardware, and environmental awareness as a result of COVID-19, which is expected to have a positive impact on market acceptance trends for green data centers will impact .
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The central theses
- Asia-Pacific is expected to grow the fastest due to increased adoption of internet and smartphones.
- In the coming years, the increasing use of large data centers by large organizations is likely to improve the global green data center market. Huge implementation costs and a lack of understanding of the benefits of green data centers would stifle adoption.
- The US green data center market size is projected to reach $94.4 billion by 2032.
- The Chinese market is expected to reach US$19.3 billion by the end of the study period.
- During the projected period, the media and entertainment industry is expected to grow the fastest.
competitive landscape
The highly competitive market for green data centers includes a large number of small and large market participants that operate nationally and internationally. To improve their position in the global economy, major vendors employ a variety of business tactics.
The global green data center market study has reported that market players have adopted major strategies such as new product launches, product upgrades, and new product approvals. Vendors benefit from strategic alliances and collaborations as they expand their product and business portfolios. Other important techniques that companies use to expand their regional footprint and business are mergers and acquisitions.
NTT Communications, IBM Corporation, Cisco Systems, Inc., NEC Corporation, HP Development Company, Equinix, Inc., Schneider Electric SE, Huawei Technologies Co. Ltd., Dell Corporation, ABB Ltd., China Telecom, Digital Realty Trust the major players in the global green data center market.
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