Carbon Neutral Data Center Market worth $35.89 Bn by 2031 - Exclusive Report by InsightAce Analytic Pvt. Ltd.
JERSEY CITY, N.J., Dec. 6, 2023 /PRNewswire/ -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Carbon Neutral Data Center Market- (By Product (industry (IT and Telecom, Banking, Financial Services, and Insurance (BFSI), Government or Public Sector, Healthcare, Manufacturing, Retail), data center type (hyper-scale data centers, enterprise data centers, colocation data centers), and carbon neural solution (Hardware, Software and platforms and Support Services))), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Carbon Neutral Data Center Market is valued at US$ 6.22 Bn in 2022, and it is expected to reach US$ 35.89 Bn by 2031, with a CAGR of 21.67% during a forecast period of 2023-2031.
Carbon Neutral Data Center Market Report Scope
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The global carbon-neutral data centre market growth is to be driven by increasing government regulation developments and CSR activities. The carbon-neutral data centre market is still in a growing phase, and the growth is attributed to the various environmental-friendly policies and government regulations. Advanced research and development activities are underway to develop carbon-neutral data centre technologies and products, which are expected to increase due to the increased demand for data storage and digital transformation.
With an increased worldwide focus on achieving climate-neutral goals and managing demand for data storage, the shift from non-renewable energy sources to renewable energy sources in the data centre industry brings significant opportunities. The shift is more prominent in regions such as Europe and North America. This is because countries in these regions, with naturally colder climates almost throughout the year, have the highest potential in the global market.
List of Prominent Players in the Carbon Neutral Data Center Market:
Growing demand for government regulations on carbon emissions and rising emphasis on renewable energy, etc., is a vital factor anticipated to propel the growth of the target market. Increasing demand for growing energy-efficient alternatives for data center cooling and rising carbon neutrality under sustainable development efforts and CSR activities is further expected to support the market growth. Additionally, the rising demand for electricity tariffs globally and other is a factor expected to augment the growth of the carbon-neutral data centre market.
The prime challenge is the requirement for more awareness and commercialization regarding the high dependence on non-renewable energy for running data centre operations. However, the higher cost of implementation and compatibility issues. Even though other sectors have been adversely affected by the COVID-19 pandemic, data centre operators have seen demand for data storage double and redouble, driven by increasing digitalization and the pandemic. A recent update shows that are reshaping data centres more extensively and faster than ever.
Europe's carbon-neutral data center market is expected to generate the highest revenue. It is projected to grow at a high CAGR soon, attributed to the R&D advancements and supporting government regulations in the region. Europe is an attractive region for the carbon-neutral data centre market because of the availability of a favourable climate for the use of renewable sources of energy. This is due to the adoption of new strategies by prominent players in the carbon-neutral data center market. Moreover, the presence of key market players and growing collaboration among major players for market penetration in the region provides the opportunity to grow the carbon-neutral data centre market.
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Segmentation of Carbon Neutral Data Center Market-
By Industry -
By Data Center Type -
By Carbon Neutral Solution -
Middle East & Africa-
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