Green data centers are energy efficient repositories responsible for management, storage and dissemination of information vital for various organizations. Operations of these solutions require less energy, which makes them effective and at the same time environment friendly. Growth in the number of IT organizations and increasing data formulation are resulting into rising demand for proper storage and management solutions like these data centers. Powerful storage capacities and more than 80% savings of energy than the traditional data centers are the strong drivers for the global green data center market. Rising adoption and innovative technologies are expected to be the strong driving factors for the overall global industry in the next few years to come.
Segmentation in Green Data center Industry
The global data center industry is witnessing healthy growth thanks to rising data and demand for management and storage of information for different industrial verticals. The global green data center market is segmented on the basis of the types of solutions, services, and demand across different industrial verticals and geographic regions. These services are mainly adopted by colocation providers, cloud providers and enterprises. The solutions available in the market include power, cooling, server, management software, networking and other environment friendly solutions. The services include professional, monitoring, system integration and such other solutions.
Drivers and Restraints
The global Green Data Center (GDC) market is driven by the rising demand from different industrial verticals. Growth in the applications of data storage across small, medium and large enterprises is contributing to the rising demand in the industry. Several other driving factors include rising cost of electricity, space constraints for physical data centers, social responsibility taken up by the corporate, high operational costs for data centers, and changing government regulations.
The three major restraints for the industry include unawareness towards the benefits of these solutions, incompatibility with the existing products and requirement for large capital investments. The industry is seeking growth opportunities from educational companies, low cost solutions and innovative solutions increasing the product compatibility.
According to the analysis of the growth drivers and major industry restraints, the global green data center market is set to make a healthy growth at a projected CAGR of over 27%. At the projected CAGR, the industry is expected to become worth more than $75.89 billion by the end of 2019. As of 2014, the market is poised at 22.76 billion. During the forecasting period, North America is expected to dominate the global market in terms of the demand, applications and innovation in the existing technology.