The green data center market is projected to grow at a CAGR of 20.90% to reach US$160.557 billion by 2025, from US$51.416 billion in 2019. Green Data Center are computer facilities, where data is stored, managed, and operated. They are designed to maximize energy efficiency and minimize environmental impact. Green Data Center reduces operational cost and carbon footprint by using energy-efficient power supply systems, servers or LEDs, etc.
Data has become a meaningful resource for any organization to serve its customers. Artificial Intelligence and Data Mining techniques have brought synergies in handling the data of customers and then analyzing it to get a sense of customer’s purchasing patterns. These developments are being deployed excessively by companies such as Amazon, Flipkart, Myntra, among others. With the developing trend of digitalization of processes across developing countries, the amount of data to be maintained is colossal. For that matter, the number of data storage facilities is rising and the energy consumed in such processes is straining the environment by exploiting the non-renewable energy resources. This leads to the demand for Green Data Center which stores the data much more economically and efficiently. Governmental regulations, focusing on more renewable means of energy utilization are augmenting the growth of this market.
The growing volumes of data of customers at the global level are elevating the market growth in the forecast period. Developing companies are adding more customers to the digital economy, owing to improvement in the infrastructure facilities and increment in disposable incomes, and hence, customers are spending more time and money on digital services such as making payments or storing files. Hence, increasing the storage capacity of the data centers is becoming a prime focus of companies with a rising number of internet users. Companies with a far sight are investing in Green Data Center despite high initial investments to reduce operational costs. Additionally, cloud storage facilities used to store data on server computers without taking physical space, are also enhancing the proliferation of green data storage centers.
The Asia Pacific region is expected to show a substantial growth rate in the forecast period with the changing regulations in the countries. In India, the Digital India program has initiated a series of alterations in different exercises. Direct Benefit Transfers to bank accounts, online tax payments, upper cash exchange limits are some of the steps taken to digitize the economy. Cheaper internet tariffs have provided a cushion to the regulatory changes in the economy. Inclination towards online shopping, food delivery apps, and ride-hailing apps, all have added to the need for massive data storage facilities.
North America is expected to hold the largest share of the green data center market due to the presence of big data-driven companies and the growth of the latest technological changes such as 5G and Big Data Analytics. International Organizations and Domestic Governments have been pressurizing countries to reduce carbon footprints, which has enhanced the demand for Green Data Center.
o Colocation Service Providers
o Cloud Service Providers
o Small Enterprises
o Medium Enterprises
o Large Enterprises
o Banking and Financial Services
o Communication and Technology
o Media and Entertainment
o North America
o South America
o The Middle East and Africa
o Asia Pacific
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