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Dublin, March 17, 2023 (GLOBE NEWSWIRE) — The “Green Data Center Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
The global green data center market grew from $57.58 billion in 2022 to $68.37 billion in 2023 at a compound annual growth rate (CAGR) of 18.7%. The green data center market is expected to grow to $139.93 billion in 2027 at a CAGR of 19.6%.
North America was the largest region in the green data center market in 2022 and is expected to be the fastest-growing region in the forecast period. The regions covered in the green data center market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing energy consumption by data centers is expected to propel the growth of the green data center market. Due to the rising digitalization and regulation, data centers are growing up all over the world requiring increased electricity to operate. The increasing number of data centers is leading to an increase in energy consumption as more power is required to support various data center functions.
As the energy consumption increases, it will increase the cost of operation and cause environmental harm. This will drive significant demand for green data centers that are environmentally friendly options with reduced cost of operations as they use renewable energy to operate.
For instance, according to Facebook’s sustainability report 2020, Facebook data centers used about 6.966 million megawatt-hours of electricity in 2020 which increased by 39% over 2019. Therefore, the growing energy consumption by data centers will drive the growth of the green data center market.
Cloud services are a key trend gaining popularity in the green data center market. Cloud services are a range of services delivered on-demand to businesses through the server over the internet, removing the need for internal infrastructure or hardware. Cloud services also support the existing infrastructure such as a cloud center or facility. Cloud services in green data centers offer the advantage of cloud experience by reducing complexity and maintaining ownership of the data while managing the workload with its functionality. Key players in the market are focusing on providing or implementing cloud services in their offerings to strengthen their market position.
For instance, in June 2021, Hewlett Packard Enterprise (HPE), a US-based multinational information technology company introduced new HPE GreenLake cloud services to support critical applications in a variety of industries including 5G, financial services, electronic medical records, analytics, artificial intelligence (AI), and high-performance computing (HPC). These advancements will further strengthen HPE’s leadership in offering cloud services anywhere, in a customer’s data center, colocation facility, or at the edge. This cloud service transforms and modernizes workloads from data centers to a cloud operating model with optimization and security.
In November 2020, Schneider Electric, France-based energy, and digital solution multinational company acquired a controlling stake in ETAP Automation for an undisclosed amount. This acquisition is expected to strengthen Schneider’s existing software portfolio for electric power systems. Schneider’s cloud-based technology platform will be integrated with ETAP’s technology to create the way for green data centers, resilient power grids, decarbonized transport, and energy generation. ETAP Automation Inc is a US-based company that offers electrical power system analysis software used in data centers.
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1) By Components: Solutions; Services
2) By Data Center Size: Small and Medium-Sized Data Centers; Large Data Centers
3) By Verticals: BFSI; IT and Telecom; Media and Entertainment; Healthcare; Government and Defense; Manufacturing; Other Verticals
|No. of Pages||200|
|Forecast Period||2023 – 2027|
|Estimated Market Value (USD) in 2023||$68.37 billion|
|Forecasted Market Value (USD) by 2027||$139.93 billion|
|Compound Annual Growth Rate||19.6%|
Key Topics Covered:
1. Executive Summary
2. Green Data Center Market Characteristics
3. Green Data Center Market Trends And Strategies
4. Green Data Center Market – Macro Economic Scenario
5. Green Data Center Market Size And Growth
6. Green Data Center Market Segmentation
7. Green Data Center Market Regional And Country Analysis
8. Asia-Pacific Green Data Center Market
9. China Green Data Center Market
10. India Green Data Center Market
11. Japan Green Data Center Market
12. Australia Green Data Center Market
13. Indonesia Green Data Center Market
14. South Korea Green Data Center Market
15. Western Europe Green Data Center Market
16. UK Green Data Center Market
17. Germany Green Data Center Market
18. France Green Data Center Market
19. Eastern Europe Green Data Center Market
20. Russia Green Data Center Market
21. North America Green Data Center Market
22. USA Green Data Center Market
23. South America Green Data Center Market
24. Brazil Green Data Center Market
25. Middle East Green Data Center Market
26. Africa Green Data Center Market
27. Green Data Center Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Green Data Center Market
29. Green Data Center Market Future Outlook and Potential Analysis
A selection of companies mentioned in this report includes
- Schneider Electric
- Hewlett Packard Enterprise
- Green Revolution Cooling
- Midas Green Technologies
For more information about this report visit https://www.researchandmarkets.com/r/1avk9r
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