New York, United States, May 28, 2024 (GLOBE NEWSWIRE) — The global green data center market is set to experience significant growth, with analysts forecasting an increase from USD 82.2 billion in 2023 to USD 281.4 billion by 2033. This growth represents a Compound Annual Growth Rate (CAGR) of 13.10% during the forecast period.
The surge in the green data center industry is being driven by the escalating demand for sustainable data solutions. Companies are increasingly turning to green data centers to reduce their environmental impact and operational costs. Key initiatives in the market include the adoption of energy-efficient technologies, integration of renewable energy sources, and the use of innovative solutions such as server virtualization and cloud computing. The level of efficiency and sustainability of data centers is measured using metrics like Power Usage Effectiveness (PUE) and Carbon Usage Effectiveness (CUE). LEED certifications play a crucial role in recognizing and establishing sustainable data center practices.
The industry is rapidly evolving to meet the growing demand for environmentally responsible data solutions, with a primary focus on reducing energy consumption, minimizing carbon emissions, and supporting resource conservation. The market insights are spread across 200 pages with 110 tables and figures from the report on the “Global Green Data Center Market Size By Component (Solutions and Services), By User (Colocation Providers, Cloud Service Providers, and Enterprises), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033.”
The solutions segment is expected to drive market growth over the forecast period, with a notably rising adoption rate due to increasing regulations aiming to reduce carbon emissions and promote sustainability. Many businesses are voluntarily committing to lowering their carbon footprint as part of their corporate social responsibility initiatives. Green data center solutions offer energy-efficient cooling systems, renewable energy integration, and optimized server utilization, all of which contribute to reducing energy consumption and operational costs.
Among the user segments, colocation providers are projected to dominate the market due to the expansion of digital technology and the exponential growth of data generated by organizations. Colocation services enable businesses to outsource their data center requirements, such as server hosting and storage, without significant upfront infrastructure costs. The adoption of green data center technologies in colocation services offers additional cost savings through energy-efficient cooling and power systems.
In North America, the green data center market is expected to lead from 2023 to 2033, driven by the rapid deployment of 5G technology and the development of mobile broadband. The U.S. federal and state governments have enacted stringent environmental regulations and sustainability initiatives that encourage businesses to embrace greener practices, including funding incentives for the construction of energy-efficient data centers.
Meanwhile, the Asia Pacific region is witnessing the fastest growth in the market between 2023 and 2033, mainly due to continuous investments in renewable energy and advancements in power and cooling technologies. The region’s focus on reducing carbon footprints and reaching net-zero targets is expected to drive additional innovations and improvements in data center infrastructure.
The competitive analysis of the global green data center market highlights key players such as IBM Corporation, Hewlett Packard Enterprise, Dell Technologies, Cisco, NEC Corporation, Schneider Electric, ZutaCore, Super Micro, and others. These companies are actively involved in product development, innovations, partnerships, and mergers to stay competitive in the market.
Recent market developments include Liberation Technology Services (LTS) partnering with E-New Data Corp. to construct an environmentally friendly data center by 2024. Major companies in the market include IBM Corporation, Hewlett Packard Enterprise, Dell Technologies, and others. Market segmentation analysis covers revenue forecasts at the global, regional, and country levels from 2023 to 2033 for components, users, and regions.
For more information on the global green data center market, reach out to Spherical Insights & Consulting at +1 303 800 4326 (U.S.) or +91 90289 24100 (APAC) or via email at inquiry@sphericalinsights.com and sales@sphericalinsights.com.
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