The Market for Green Data Centres is Predicted to grow Significantly Between 2022 and 2032, at a CAGR of 14.3%

During the years 2022-2032, the green data centre market is projected to grow significantly at a CAGR of 14.3%. Market analysts expect the green data centre market to increase from US$ 58.6 billion in 2021 to US$ 266.9 billion in 2032.

"A significant driver of market expansion is the rising popularity of green data centres among enterprises embracing green initiatives for their regular IT operations to save money."

Governments throughout the world have limited energy use due to concerns about the rising percentage of data centres that use it, which is the main factor driving the market for green data centres.

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As per the study by Persistence Market Research, if the price of power continues to rise at the same rate, the initial return on investment can be realized sooner than projected in the center market growth.

The demand for efficient data storage and management is growing in response to the fast-increasing data traffic.

Green data centers provide environmentally friendly and cost-effective data storage while consuming less energy. As a result, the demand for green data centers is likely develop due to the favorable prognosis for data center storage requirements and the growing need to minimize total operational expenditure.

Various governments are actively working to construct sustainable, ecologically responsible, energy-efficient, and cost-effective data centers. As a result, strict environmental regulations requiring energy conservation will increase demand for green data centers and the liquid cooling market.

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Green data centers have found new uses in the fields of education and robotics.

The need for green data centers and center liquid cooling is likely to rise as a result of COVID-19. This is attributable to factors such as the increased usage of cloud data center services, the growing reliance on data center automation, the rise of hardware reuse as the main challenge, increased data center hardware remarketing, and environmental consciousness as a result of COVID-19, which is expected to positively impact the green data center market adoption trends.

Key Takeaways

Due to increased internet and smartphone adoption, Asia Pacific is predicted to grow at the fastest rate.
In future years, increased use of large data centers by large organizations is likely to enhance the worldwide green data center market. The massive cost of implementation and a lack of understanding of the benefits of green data centers would stifle uptake.
The US green data center market size is expected to be US$ 94.4 Bn by 2032.
The China market is forecasted to reach US$ 19.3 Bn by the end of the study period.
During the projected period, the media and entertainment vertical are expected to increase at the fastest rate.

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Competitive Landscape

The highly competitive market for green data centers includes a variety of small and large market participants working on both a domestic and international scale. To improve their position in the global economy, key vendors are employing a variety of business tactics.

The global green data center market study has reported that market participants have used important strategies such as new product launches, product upgrades, and new product approvals. Vendors benefit from strategic alliances and cooperation as they expand their product and business portfolios. Other important techniques companies have used to extend their regional footprint and company include 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 are among the major players in the global green data center market.

Recent Developments

September 2021: Sparkle, the first international service provider, announces the opening of Metamorfosis II, Greece's first green data center. To provide high-speed connectivity and a rich ecosystem in connectivity at the international and domestic levels, the data center is fully connected with Sparkle's Tier-1 global backbone Seaborne and pan-Mediterranean optical network, Nibble.

August 2021 - As part of its commitment to digitization and the data-driven economy, the Norwegian government unveiled a new strategy for all green data centers in the country. New measures for job development and long-term growth are included in these strategies. Building green and efficient data centers in Norway is suitable due to the cold weather, and renewable sources provide 98 per cent of the electricity.

Key Segments
By Component

Solutions
Services
By Size

Small & Medium Size
Large Size
By Vertical

BFSI
IT and Telecom,
Media and Entertainment
Healthcare
Government and Defense
Retail
Manufacturing
Others
By Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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This release was published on openPR.