Green Data Center Market forecast
The Green Data Center market dynamics, forces, companies and trends have been determined after conducting a detailed study of the industry for this newly released research report now available with Market Study Report.
Green Data Center Market Research Report for the period of 2018-2024 that shows the growth of the market is rising at a 25% CAGR to 2024.
Green Data Center Market is projected to reach a revenue of over USD 25 billion by 2024. The high focus of government bodies across the world pushing organizations to reduce their carbon footprint and electricity consumption is driving the demand for the green data center market. For instance, the growth of the Chinese digital economy and the rise in conventional data center construction projects in the country have led to the government launching initiatives to enforce the adoption of energy-efficient technologies. Additionally, in 2015, it issued the Guideline for Pilot Projects of Green Data Centers (GPPGDC), which provided organizations with information on ways to lower the average PUE.
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A key factor promoting the growth of the green data center market is that it allows companies to reduce their operational costs by utilizing strategies such as waste recycling, usage of renewable energy sources for cooling and power, and identifying dead or unused networking devices such as servers. In 2017, conventional U.S. data centers were reported to consume over 90 billion kilowatt-hours of electricity and are anticipated to increase to over 140 billion kilowatt-hours, costing businesses over USD 13 billion annually in electricity bills. In such a case, high costs can reduce the overall profits generated by the company. The replacement of conventional equipment can provide over 20% savings annually to consumers, boosting the green data center market growth.
The segmentation of green data center market by component indicates that the solutions segment dominates in terms of revenue by over 76%. The high growth of the segment is largely attributed to the high demand for management software solutions, which allow the operator to identify the faults in the high-power usage and recommend preventive measures. The software also allows to identify unevenness in cooling and locate servers and devices, which consume energy that is above their required threshold.
The colocation end-use segment is the largest consumer in the green data center market and has a growth rate of approximately 30%. There is a substantial rise in the number of SMEs, which have inadequate financial funds to host their own infrastructures. Additionally, the rise of cloud technologies and improvements in broadband speeds are boosting the colocation sector. The adoption of energy-efficient solutions allows these organizations to gain higher control over their spending on the various assets such as HVAC and networking.
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Rapid industrial boom increase in outsourced IT services, activities, and government support for local manufacturing have led to the rise in SMEs in the South-East Asian regions, primarily among countries including China and India, fueling the green data center market growth. For instance, Singapore is anticipated to witness a strong growth in the coming years owing to the push from Infocomm Media Development Authority (IMDA) toward the construction of vertical green buildings to house data centers. In light of this, the government agency has entered into a partnership agreement with Keppel Data Centres and Huawei International to explore and understand the technical feasibilities of such structures, generating a demand for the green data center market.
The green data center comprises players such as EcoDataCenter, Eaton Corporation, HCL Technologies Limited, Green House Data, Siemens AG, and Verne Global. The industry is at present in the nascent stage and is poised to grow significantly. This is causing companies to undertake strategies such as product launches and partnership agreements to strengthen their hold in the global green data center market.
Table of Content:
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Green Data Center Industry Insights
Chapter 4. Green Data Center Market, By Component
Chapter 5. Green Data Center Market, By End-use
Chapter 6. Green Data Center Market, by region
Chapter 7. Company Profiles
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Data Center Infrastructure Market Growth Potential, Competitive Market Share & Forecast, 2018 – 2024
Data Center Infrastructure market is expected to exceed USD 90 billion by 2024. The growth can be attributed to the rising trend of cloud computing and virtualization. The rise in the demand for cloud storage has resulted in a global increase in the number of data centers.
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