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Evolving Market Trends In The Green Data Center Industry: Cloud Services Driving Transformation In The Green Data Center Market
Green Data Center
What Is the Expected Green Data Center Market Size During the Forecast Period?
The market size for green data centers has experienced speedy expansion in the past few years. Projected to escalate from a value of $77.12 billion in 2024, it is expected to hit $90.2 billion by 2025, displaying a compound annual growth rate (CAGR) of 17.0%. Environmental laws, increasing energy prices, the need for effective data storage and management, as well as regulations and governmental initiatives have significantly contributed to this substantial growth in the historical period.
In the coming years, the green data center market is predicted to encounter a substantial increase in size. By 2029, it is anticipated that this market will reach a valuation of $202.29 billion at a compound annual growth rate (CAGR) of 22.4%. The projected advancement during this period is mainly due to the expansion of edge computing, growth in cloud computing, the need to lower carbon emissions, and the growth of emerging markets. Some of the key trends during this period are expected to be innovations in liquid cooling, utilization of sustainable materials and designs, the application of energy-efficient cooling technologies, and the integration of renewable energy.
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What Are the High-Growth Segments in the Green Data Center Market?
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
Subsegments:
1) By Solutions: Energy Management Solutions, Cooling Solutions, Virtualization Solutions, Renewable Energy Solutions
2) By Services: Consulting Services, Managed Services, Maintenance and Support Services, Training and Education Services
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What Key Drivers Are Expected to Influence Future Green Data Center Market Growth?
The escalating power demands of data centers is predicted to impel the expansion of the green data center market. The surge in digitalization and regulation has initiated an expansion of data centers worldwide that require heightened electricity for functioning. A larger number of data centers contributes to more energy usage due to the power needs of diverse data center actions. As the energy usage intensifies, the operational expenses escalate and the environment suffers. This will stimulate substantial need for green data centers, which are ecologically considerate alternatives that operate on renewable energy and have decreased operational costs. For example, the US Energy Information Administration, a US government agency, reported that in May 2022, the United Kingdom produced a total of 934,000 barrels per day (b/d) in liquid fuels and 1.1 trillion cubic feet (Tcf) of natural gas in 2021. Consequently, the proliferating energy consumption of data centers will augment the growth of the green data center market.
Which Companies Hold the Largest Share Across Different Green Data Center Market Segments?
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.
What Trends Are Driving Growth in The Green Data Center Market?
A significant trend emerging in the green data center market is cloud services. These services offer a variety of on-demand features to businesses through the server over the internet, eliminating the requirement for in-house infrastructure or hardware. Additionally, cloud services can supplement existing structures like a cloud center or facility. Integrating cloud services into green data centers simplifies operations and ensures data ownership while managing the workload. Major players in the market are strategically including cloud services in their products to bolster their market dominance. For instance, a US-based green data center developer, Soluna Cloud, unveiled a Helix data center in May 2024. This is an AI cloud service that sets the growth trajectory for customers, meeting the rising demand for greener data centers powered by renewable energy. [i]
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What Are the Emerging Geographies for The Green Data Center Market Growth?
North America was the largest region in the green data center market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the green data center market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Green Data Center Market?
2. What is the CAGR expected in the Green Data Center Market?
3. What Are the Key Innovations Transforming the Green Data Center Industry?
4. Which Region Is Leading the Green Data Center Market?
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