Green Data Center Market size is expected to cross USD 175 billion by 2030, according to new research report by Global Market Insights Inc.
The escalating big data analytics and organizational data traffic, due to rapid digitalization during the COVID-19 pandemic, is a key growth driver for the industry. The increasing consumption of online services and a transition toward remote working have contributed to an exponential increase in data volume. Global spending on technologies and digital solutions is expected to reach around USD 6 trillion by 2024.
To ensure compatibility with renewable energy sources, data center infrastructure needs to be altered, leading to increased costs and time required to configure the design. This may create a hindrance to the implementation of renewable energy sources within the existing data centers. The report indicates that this factor could limit the delivery of green cloud data center services to some extent, impeding market progress.
Green data center services expands with need for reduced operational costs
The service segment accounted for over 25% of the green data center market share in 2021 owing to the requirement for management services to maximize data center throughput. The need to reduce operational costs and rapidly deliver high-quality IT infrastructure has also increased. These trends will contribute to the growth of the management software industry and in turn, drive data center services demand.
Digital infrastructure initiatives in IT & telecom sector
The IT and telecom application is set to value USD 45 billion by 2030, with the expansion of infrastructure in these sectors to boost economic growth. For instance, in India, the introduction of the Digital India campaign and other initiatives has increased the number of IT businesses in the region. Telecom companies are also using green data center solutions to address the growing demands of the IT sector.
Browse key industry insights spread across 250 pages with 228 market data tables and 28 figures & charts from the report “Green Data Center Market Size By Component (Solution [Cooling, Networking, Power, Management Software], Service [Installation & Integration, Consulting, Managed]), By Application (Colocation, BFSI, Energy, Government, Healthcare, Manufacturing, IT & Telecom), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022-2030” in detail along with the table of contents:
Europe to emerge as a key hub for green data center service providers
Europe green data center market held around 25% of the revenue share in 2021. There are a growing number of small- and medium-sized enterprises adopting advanced digital technologies. Due to the budgetary constraints in developing new data centers among SMEs, the colocation sector has been gaining traction in the region. Since colocation service providers emphasize the use of technologies to deliver enhanced services, the regional industry will likely witness considerable growth through 2030.
Rising emphasis on product innovations to define the competitive landscape
Cisco, General Electric, Fujitsu Ltd., IBM Corporation, Microsoft Corporation, and Siemens AG are some of the key industry players profiled in the report. The competitive landscape of the green data center market is set to witness product innovation and business expansion initiatives led by participants.
For example, in May 2022, Siemens announced the implementation of AI and a new automation solution in its largest data center based on green technology in the Baltics. Advanced performance and power distribution management are among the key features of this new data center, which was intended to provide a glimpse into the future of green data centers.
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