Global green data center market is anticipated to grow at a considerable CAGR of 17.3% during the forecast period (2024-2031). The market is largely driven by the rising cost of energy, pressure from stakeholders, and technological innovations. Green data centers are increasingly being adopted as they offer broader cost reductions, improved risk management & mitigation, and reduced carbon footprint and downtime. For instance, Nxtra by Airtel, a data center subsidiary of Bharti Airtel, pledged to expand its capacity by 2X to over 400.0 Megawatt. The project would be based on the use of clean energy. It has thus planned to install a 500.0 Kilowatt Bloom fuel cell at its site in Bangalore.
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In addition, the market is growing owing to the cohesive involvement of state and central government towards the adoption of green data centers. The market is segmented by component (into solution and services), data center size (mid & small size, and large size), end-user vertical (into healthcare, financial services, government, telecom, IT, and others), and region (into North America, Europe, Asia-Pacific, and Rest of the World).
Key Highlights of the Green Data Center Market
- Among the regions, the Asia-Pacific is anticipated to hold a significant share of the global green data center market. The growth would be owing to the substantial investments made by key market players. For instance, in March 2023, NTT unveiled a plan to invest $90.0 million to develop its latest and most extensive data center in Thailand. The framework will help NTT towards achieving net zero emissions across its operations by 2030 and its value chain by 2040. This will also result in the fulfillment of Thailand’s commitment to achieving net-zero emissions by 2030.
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- In addition, the Malaysian government is focusing on renewable energy generation within the country. Tenaga Nasional Berhad, by the international Renewable Energy Certificate (REC) Standard, launched the Green Electricity Tariff Program, including both residential and commercial users.
- The growth of the global green data center market is largely restricted by the huge initial investments required for the development of energy-efficient green data centers. However, the Total Cost of Ownership (TCO) for the green data centers is better and results in huge savings in the long run.
- Industry growth is also challenged as the green data centers are not compatible with the existing infrastructure. However, some companies are looking forward to replacing some components to make their data centers more efficient, and desire to have compatible green solutions.
The major players in the global green data center market include Cisco Technology Inc., IBM Corp., Dell EMC Inc., Fujitsu Ltd., and Hitachi Ltd. among others. The emergence of Artificial Intelligence (AI) and Machine Learning (ML) is anticipated to play a considerable role in the development of cool data centers that would be efficiently powered.
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