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Green Data Center Market Share, Trend, Growth, Analysis And Forecast 2024-2033
Green Data Center Market Share
As per the report, the green data center market size has grown rapidly in recent years. It will grow from $66.68 billion in 2023 to $78.76 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. 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%.
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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.
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.
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
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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.
Contents of the report:
1. Executive Summary
2. Green Data Center Market Report Structure
3. Green Data Center Market Trends And Strategies
4. Green Data Center Market - Macro Economic Scenario
5. Green Data Center Market Size And Growth
…..
27. Green Data Center Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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