A green data center is a computer facility to store, manage, and operate data. Thee data centers are designed to maximize energy efficiency while minimizing the environmental impact by way of reducing operational cost and carbon footprint.
According to the report, the Global Green Data Center Market is projected to increase at a CAGR of 20.90% over the forecast period 2019-2025.
The Growing adoption of digitalization across various industries is leading to a tremendous rise in the volume of big data. As such, the rising number of data center facilities is putting pressure on the environment by causing a greater carbon footprint. This, in turn, is augmenting the demand for green data centers worldwide. Stringent government regulations regarding environmental sustainability are also boosting the market growth of green data centers in various regions. Market players are continuously investing in setting up of green data centers in order to maintain their market position while expanding their reach in new markets. This will continue to bolster the market growth of green data centers during the next five years.
The global green data center market has been segmented by product, end user, enterprise size, and industry vertical. By industry vertical, BFSI accounted for the significant market share in 2019 owing to the rising adoption of digitalization across this sector. People are constantly using digital banking services which, in turn, is fuelling the demand for green data centers across this industry vertical. The Education sector will also experience decent market growth during the forecast period owing to the increasing demand for online education services.
Geographically, the global green data center market has been classified into North America, South America, Middle East and Africa, and Asia Pacific. North America held a significant market share in 2019 owing to the presence of big data-driven companies and constant government efforts to reduce the carbon footprint. APAC green data center market will witness a noteworthy CAGR during the forecast period owing to the rising interent penetration, supportive government policies, and initiatives to boost the adoption of digitalization across various industries, and rising trend of cloud computing in the region.
Some of the key players covered as part of the report Cisco, IBM, Hewlett-Packard Development Company L.P, Eaton, Schneider Electric, and Huawei Enterprise among others.
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This report segmented the Global Green data center market on the basis following terms: