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Carbon Neutral Data Center Market Segments, Analysis, Trends, Opportunities, and Strategies 2024-2033
Carbon Neutral Data Center Market Segments
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According to The Business Research Company's, The carbon neutral data center market size has grown exponentially in recent years. It will grow from $7.44 billion in 2023 to $9.1 billion in 2024 at a compound annual growth rate (CAGR) of 22.4%. The growth in the historic period can be attributed to corporate sustainability initiatives, energy-efficient hardware adoption, shift in consumer preferences, government support and incentives.
The carbon neutral data center market size is expected to see exponential growth in the next few years. It will grow to $21.56 billion in 2028 at a compound annual growth rate (CAGR) of 24.1%. The growth in the forecast period can be attributed to advancements in energy storage, market demand for carbon-neutral services, lifecycle assessments and circular economy practices, investment in energy-efficient hardware, government initiatives and incentives. Major trends in the forecast period include renewable energy adoption, energy-efficient infrastructure, carbon offsetting programs, green building standards, efficient cooling solutions.
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Market Drivers and Trends:
The growing telecom sector is expected to propel the growth of the carbon-neutral data center market going forward. The telecommunications sector refers to the industry that enables communication on a global scale through various means such as the phone, internet, airwaves, or cables. The telecom industry is dependent on data centers for constant storage and processing, which is a primary criterion for providing quality services. Also, the telecom industry is investing in carbon-neutral data centers to reduce carbon emissions and improve sustainability. For instance, in August 2023, according to Statistics Canada, a Canada-based government agency, the telecommunications sector experienced a 3.4% increase in total revenues in 2021 when compared to 2020. The increase in total Canadian telecommunications revenues in 2021 is primarily due to the almost $1.3 billion increase in mobile revenues, as total mobile increased by 4.5%. Therefore, the growing telecom sector is driving the growth of the carbon-neutral data center market.
Product innovations are the key trend in the carbon neutral data center market. Major companies operating in carbon-neutral data centers are indulging in introducing innovative products to curb carbon emissions and increase the efficiency of data center operations. For instance, in March 2022, Amazon Web Services Inc. (AWS), a US-based provider of on-demand cloud computing platforms, launched a customer carbon footprint tool. This new technology platform enables users to calculate the environmental impact of their AWS workloads. This new tool uses data visualizations to estimate the expected carbon emissions customers have avoided by utilizing AWS rather than an on-premises data center, provides customers with their historical carbon emissions, and analyses emission patterns as their use of AWS changes.
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Major Key Players of the Market:
3M Company, ABB Ltd., Alibaba Group Holding Limited, Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Dell Inc., Digital Realty Trust Inc., Eaton Corporation plc, Equinix Inc., Fujitsu Ltd, Hewlett Packard Enterprise, The International Business Machines Corporation, Intel Corporation, Microsoft Corporation, Ark Data Centres Limited, Cologix Holdings Inc., CyrusOne Inc., DataBank Holdings Ltd., Digital Fortress Inc., Lunavi Inc., Iron Mountain.Inc, NTT Communications Corporation, QTS Realty Trust, ServerFarm, SingleHopLLC, Sungard Availability Services LP, Switch Inc., Telehouse America Inc., Carbon60 Networks Inc.
Carbon Neutral Data Center Market 2024 Key Insights:
• The carbon neutral data center market size is expected to see exponential growth in the next few years. It will grow to $21.56 billion in 2028 at a compound annual growth rate (CAGR) of 24.1%.
• Renewable Energy Focus Drives Growth Of Carbon-Neutral Data Center Market
• Product Innovations Drive Advancements In Carbon-Neutral Data Center Market
• Europe was the largest region in the carbon neutral data market in 2023
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