As cited by the business intelligence report titled ‘Global Green Data Center Market Size study, by Component (Solution, Services), by Application (Banking, Financial Services and Insurance (BFSI), Energy, Government, Healthcare, Manufacturing, IT & telecom, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global green data center market was worth USD 8.1 billion in 2019 and is expected to register a robust CAGR of 24% over 2020-2027, subsequently accumulating USD 45.3 billion by the end of the study period.
 

Escalating demand for data storage, along with growing focus of industry moguls towards enhancing energy infrastructure and deploying large-scale data centers are propelling the growth of global green data center market.
 

For the record, green data centers are service facilities which utilize energy-efficient and environment-friendly technologies to assist in the storage, management, and distribution of data. They also help in reducing organizational carbon footprint, owing to the implementation of high-efficiency routers, integrated humidification systems, HVAC (heating, ventilation, and air conditioning), and energy-star graded power supply systems. Besides this, lower space and energy requirements as compared to conventional data centers is further stimulating product demand.
 

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Speaking of the recent developments, the COVID-19 pandemic has negatively impacted global green data center industry expansion, as the rapid spread of the coronavirus has compelled national authorities to levy temporary lockdown measures, which in turn is disrupting the entire supply chain. Additionally, growing concerns regarding green storage technologies and high initial investments associated with the deployment of the data centers are expected to barricade industry growth during the stipulated timeframe.
 

Based on component, worldwide green data center market is split into services, and solutions. Moving on, the application scope of the business comprises IT & telecom, manufacturing, healthcare, government, energy, and BFSI among others.
 

Elaborating on the geographic outlook, North America captures a substantial portion of global green data center market share currently, on account of rising adoption of Big Data analytics and cloud computing technologies, alongside high concentration of leading service providers.
 

Alternatively, Asia-Pacific market is set to grow tremendously over the forecast period, creditable to surging demand for data storage, and imposition of stringent environmental regulations in the region.
 

Major organizations defining the worldwide green data center market trends are Dell Inc., Airedale International Air Conditioning, Huawei Technologies Co. Ltd., Eaton Corp., Fujitsu Ltd., EcoDataCenter AB, General Electric Co., Hitachi Ltd., HCL Technologies Ltd., and IBM Corp.