Green Data Center Market to Garner $303.9 Bn, Globally, by 2031 at 20.1% CAGR: Allied Market Research

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Oct 18, 2022, 10:30 ET

Rise in penetration of high-end cloud computing in companies, surge in need for scalability, and increase in expenditure on green data center technology drive the global green data center market.

PORTLAND, Ore., Oct. 18, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Green Data Center Market by Component (Solution, Services), by Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), by Industry Vertical (BFSI, IT and Telecom, Media and Entertainment, Healthcare, Government and Defense, Retail, Manufacturing, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031" As per the report, the global green data center industry generated $49.7 billion in 2021, and is projected to reach $303.9 billion by 2031, growing at a CAGR of 20.1% from 2022 to 2031.

Drivers, restraints, and opportunities

Rise in penetration of high-end cloud computing in companies, surge in need for scalability, and increase in expenditure on green data center technology drive the global green data center market. However, rise in demand for managed services and increase in concerns regarding data privacy hinder the market growth. On the contrary, rise in demand for multi-cloud and network upgrades to support 5G would open new opportunities in the future.

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Covid-19 scenario:

The Covid-19 outbreak significantly affected the market. Manufacturing and production facilities across the globe were shut during the pandemic. This negatively impacted the global economy and created challenges for businesses and communities.
Several countries suffered major losses in terms of business and revenue due to lack of raw materials and disruption of the supply chain.
In addition, the pandemic enforced the industry to make short-term decisions that have long-term implications. Thus, the negative impact on the market is expected to continue for a short period.

The solution segment dominated the market

By component, the solution segment held the lion's share in 2021, accounting for nearly three-fifths of the global green data center market, as green data center solutions are effective and environmentally friendly in terms of data storage and energy consumption. However, the services segment is projected to portray the highest CAGR of 21.2% during the forecast period, due to surge in adoption of professional services for integration and deployment of green data center solutions.

The media and entertainment segment to register the highest CAGR through 2031

By industry vertical, the media and entertainment segment is anticipated is estimated to register the highest CAGR of 24.0% from 2022 to 2031. This is due to increase in storage demand and increase in data traffic in the media & entertainment industry. However, the BFSI segment held the lion's share in 2021, contributing to more than one-fifth of the global green data center market, due to need for sustainable data management.

The large enterprises segment held the largest share

By enterprise size, the large enterprises segment dominated the market in terms of revenue generation in 2021, accounting for more than half of the global green data center market. This is due to adoption of green data center by large enterprises for efficient and cost-effective energy. However, the small and medium-sized enterprise segment is projected to register the highest CAGR of 21.3% during the forecast period, due to rapid innovation and technological investments by SMEs.

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North America held the lion's share

By region, the global green data center market across North America held the largest share in 2021, accounting for nearly two-fifths of the market, due to infrastructure development and technology adoption in countries such as the U.S. and Canada. However, the market across Asia-Pacific is anticipated to register the highest CAGR of 24.7% during the forecast period, due to rise in digital and economic transformation in the region.

Key market players

ABB LTD
Cyber Power Systems
Dell Technologies Inc.
Delta Electronics, Inc.
Digital Realty Trust, Inc.
Eaton Corporation
Hewlett-Packard
Huawei Technologies
IBM Corporation
NEC Corporation
Nortek Air Solutions
NTT Corporation
Schneider Electric
ZutaCore

The report analyzes these key players of the global green data center market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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