The Worldwide Green Data Center Industry is Expected to Reach $140.3 Billion by 2026 at a CAGR of 19.1% from 2020
DUBLIN, March 26, 2021 /PRNewswire/ -- The "Global Green Data Center Market by Component (Solutions [Power, IT, Cooling] and Services [Design & Consulting, Maintenance & Support, Installation & Deployment]), Data Center Size (Small & Mid-sized, Large), Vertical, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global green data center market is expected to grow from USD 49.2 billion in 2020 to USD 140.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.1% during the forecast period.
The green data center market is gaining traction in various regions and has caught the eye of various organizations for deploying green data center solutions. In the present scenario, organizations have started taking green initiatives for their regular IT operations to save their money, making green data center as most popular initiatives. In an all-inclusive manner, a green data center comprises energy-efficient components, such as UPS, servers, and cooling systems.
Cooling solutions segment to grow at the highest CAGR during the forecast period
The average data center uses a significant amount of electricity. The cooling infrastructure is required to maintain the ideal operating environment for all that equipment. When put together, data centers consume about three percent of the world's electricity. With more energy-intensive hyperscale facilities on the way in the coming years, the cooling infrastructure must become more energy efficient to maintain the overall PUE.
The sole purpose of data center cooling is to maintain environmental conditions suitable for Information Technology Equipment (ITE) operation. Achieving this goal requires the elimination of the heat produced by the ITE and transferring that heat to some heat sink. In most data centers, the operators expect the cooling system to operate continuously and reliably.
There are two major types of cooling:
Banking, financial services and insurance (BFSI) vertical to hold the largest market size during the forecast period
The BFSI vertical is one of the most important industry verticals in the green data center market and offers a wide variety of products and services. Intensively secure data transaction and storage is a necessity for all BFSI institutes and organizations. This vertical is dynamically regulated and has customers with high demands. The demand for efficient data centers is very high here, as an enormous amount of secure data is required to be stored and accessed.
In the present scenario, the enforcement of government regulations is highly increased, and also companies are facing issues with a drop in the operational cost of running their data centers. Also, with rising electricity prices, BFSI companies are left with no other alternative than to go for efficient and green data centers.
Green data center market in Asia Pacific to grow at the highest CAGR during the forecast period
APAC is the fastest-growing region in the green data center market and has witnessed huge investments in data center construction. Factors such as increasing internet penetration, cloud computing, growing economy, and rapid infrastructure development have attributed to the growth of the green data center market n the region. The major vendors providing green data center solutions in APAC are Eaton, Schneider Electric, Delta Electronics, and many more.
Major countries such as Australia, New Zealand, and China are witnessing huge investments in industry verticals, such as BFSI, retail, healthcare, manufacturing, telecommunications and IT and others, which has brought development and economic growth in the APAC countries. The data center construction in APAC region is comparatively higher due to large areas of untapped market for data center providers. The implementation of 5G has commenced in several countries, which will have a significant impact on the market with telecommunication providers partnering with service providers in establishing edge data centers throughout the region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Global Green Data Center Market Analysis, by Component
7 Global Green Data Center Market Analysis, by Data Center Size
8 Global Green Data Center Market Analysis, by Vertical
9 Green Data Center Market Analysis, by Region
10 Competitive Landscape
11 Company Profiles
12 Adjacent Markets
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SOURCE Research and Markets