Global Green Data Center Market is expected to reach USD 25 billion by the year 2024, as per a new report by Global Market Insights, Inc.
The growth has been driven by the rising amount of data generated due to increasing number of SMEs. The need for managing data efficiently and without being a threat to natural ecosystem mandate the need for energy efficient green data centers.
Per the report, the government led initiatives like Made in China and Make in India encourage the growth of local SMEs. Tax initiatives, technical support and financial aid from government further boost the entry of SMEs in the market.
The rise in number of SMEs triggers more data generation. But, the complexities of the conventional data centers not only increase business cost but increase the energy consumption too. Green Data Centers present an energy efficient way of storing and managing business data.
The report also found that the increasing cloud adoption is driving the data center growth and there is an increase in the amount of CO2 emitted. The current focus is on reducing the Power Usage Effectiveness (PUE).
Talking about the roadblocks in the growth of green data centers, the report found that cyberthreats stand to be the leading restraint. With new data privacy laws like EU GPPR, companies need to ensure the protection of data. Especially the financial organizations, which store highly critical business data.
Amongst the regions surveyed, APAC is expected to see a huge growth of around 30% from 2018 to 2024. Adoption of cloud and IoT in leading APAC countries like China and India is the possible reason behind such growth.
The market players include Huawei Technologies, Dell, IBM, HCL, Microsoft, Schneider Electric SE, Fujitsu, and Hewlett-Packard Enterprise.
Leading companies are investing in energy efficient solutions to lower their PUE and to meet strict government regulations. A perfect example would be Microsoft‘s recently introduced eco-friendly data center under the sea in Scotland.