A green data center is employed for managing and storing data in which the lighting, mechanical, computer and electrical systems are designed to offer maximum energy efficiency and minimum environmental influences. IT firms incorporate green data centers to curb environmental effects by measuring, implementing, and scheduling initiatives around data center framework.
A green data center offers similar capabilities and features as that of a typical data center yet acquires lesser space and energy; this turns the green data center into a more environment-friendly option. The prominent market drivers include, surging demand for data storage management, increasing energy cost, and spurring consumption of electricity.
Globally, The Green Data Center Market is estimated to develop from $37.9 bn during 2017 to $197.72 bn by the conclusion of 2023. The market is estimated to develop at a CAGR of 32.9% throughout the period of estimation.
On the other hand, lack of cognizance about the benefits of green data center, increased initial cost, and incompatibility with the prevailing data center is likely to restrict the market expansion.
The industry is witnessing an undying requirement of energy-efficient green data frameworks. Energy-efficient data centers assist in curbing the operational cost of a data framework and lessening the energy consumption in supporting the infrastructure and facility.
There are several advantages of green data centers, which include the capability to accurately observe the baseline energy cost, relaxed budgetary forces to promote growth, improved performance per kilowatt, shift of energy to operate ratio, expand the life of prevailing facilities, productive energy conservation, curtailed footprint, and improved brand value of the organization.
Government approaches to reduce environmental influences of data centers and propelling interest of enterprises towards green earth campaigns are accelerating the development of the green data center. Some of the major vendors occupying Green Data Center Market comprise Cisco, IBM, and HP extending several efficient solutions in this market.
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The worldwide market for green data center is classified on the basis of organization size, component, vertical, region, and end-user.
Based on components, the Green Data Center Market has been bifurcated into hardware ( cooling equipment, servers, networking components, and power units) & software.
According to organization size, the Green Data Center Market is categorized into large business enterprises & SMEs. On the basis of end-user, the green data market is segregated into colocation providers and cloud service providers. Based on vertical, the green data market is divided into life sciences & healthcare, financial services, insurance, banking, public sector, IT & telecom, and others. Based on region, the market has been segregated into Asia-Pacific, Europe, North America, and the rest of the world.
The key players ruling the market of green data center consists of Dell Corporation (US), IBM Corporation (US), Hitachi (Japan), Cisco Systems (US), Fujitsu (US), HP Development Company (US), Schneider Electric (France), ABB Group (Switzerland), NEC Corporation of America (US), and Huawei Technologies Co. Ltd. (China), among others.
North America is leading the Green Data Center Market with the largest market share. The existence of prominent players and technology progressions are estimated to propel the Green Data Center Market in the region. The accelerating number of IoT equipment also drives the market growth as incessant information is exchanged between these systems. Moreover, the prevalence of BFSI, automation, and IT and telecommunication verticals among others propel the market growth. The surged storage demand and mobile data traffic over the recent years has surged the need for green data center infrastructure. The region with a vast IT network has spurred the smart equipment market in terms of surging factors such as making high-speed internet available to the consumers.
Digital Realty, a renowned global provider of data center, interconnection and colocation solutions, declared recently, the launch of Platform DIGITAL, a first of its kind worldwide data center framework equipped to facilitate customers to upgrade digital business.