As per the latest research report titled ‘Green Data Center Market Size By Component (Solution [Cooling, Networking, Power, Management Software], Service [Installation & Integration, Consulting, Managed]), By Application (Colocation, BFSI, Energy, Government, Healthcare, Manufacturing, IT & Telecom), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2026’ available with Market Study Report, the global green data center market is expected to cross US $35 billion by the year 2026.
 

Shifting trend of adopting cloud computing is giving rise to massive data which needs to be stored, managed, and processed. This factor is leading to the construction of mega data centers, which in turn is propelling the growth of green data center market. Growing inclination of enterprises towards colocation to save expenses related to construction and maintenance of data centers will further augment the market outlook. These facilities offer cooling, power, storage, networking equipment, and server security, enabling the companies to worry less about cost and focus more on core competencies.
 

Based on component, management software solution segment of green data center market is projected to register accelerated growth over the forecast period, as these solutions improve data center functioning to provide maximum output. Enterprises are readily adopting management software to reduce operational costs and offer robust IT infrastructure to new businesses, while ensuring optimized operational outputs.
 

Speaking of application spectrum, green data center market from IT & telecom segment is anticipated to grow momentously in the upcoming years, claims the report. The segmental growth is attributed to rapid digitalization across daily activities. Shifting preference for online shopping and rising adoption of online payment methods generate massive data, which is fueling the demand for colocation solutions to save energy and money, hence boosting the overall market growth.
 

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Considering regional outlook, green data center market across Asia Pacific region will gain traction on account of rising incorporation of digital technologies, such as IoT, ML, AI, and cloud computing. Numerous government initiatives like Digital India, along with inflowing investments towards the development of smart cities across nations like India, China, Singapore, and China, and expanding manufacturing units are stimulating the regional market growth.
 

The prominent companies operating in green data center market include IBM Corporation, Verne Global, Microsoft, Hewlett-Packard, Schneider Electric SE, Vertiv Co., and Huawei Technologies Co. Ltd. among others.