Green Data Center Market is gaining immense popularity lately with the rise in concerns about the increasing energy costs impacting operational and economic efficiency. Most companies are presently implementing strategies to improve cooling and power infrastructure which is one of the vital factors influencing organizational performance, reliability, and serviceability. The shifting trends toward the deployment of green data centers for storing, managing, and distributing information have helped many software companies reduce energy consumption as well as the total energy cost.
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A key factor promoting the growth of the green data center market is that it allows companies to reduce their operational costs by utilizing strategies such as waste recycling, usage of renewable energy sources for cooling and power, and identifying dead or unused networking devices such as servers. In 2017, conventional U.S. data centers were reported to consume over 90 billion kilowatt-hours of electricity and are anticipated to increase to over 140 billion kilowatt-hours, costing businesses over USD 13 billion annually in electricity bills. In such a case, high costs can reduce the overall profits generated by the company. The replacement of conventional equipment can provide over 20% savings annually to consumers, boosting the green data center market growth.
The networking solutions in the green data center market will grow substantially with a CAGR of around 27% due to the rising demand for these solutions to minimize the power consumption. The conventional network infrastructure ensures interconnection of physical and network-based equipment and devices within a facility that consumes over 65% of the overall power. Moreover, there is a growing trend of virtualized networking environments. Network virtualization is being increasingly implemented by enterprises to reduce costs, improve efficiency, and enhance agility.
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The colocation end-use segment is the largest consumer in the green data center market and has a growth rate of approximately 30%. There is a substantial rise in the number of SMEs, which have inadequate financial funds to host their own infrastructures. Additionally, the rise of cloud technologies and improvements in broadband speeds are boosting the colocation sector. The adoption of energy-efficient solutions allows these organizations to gain higher control over their spending on the various assets such as HVAC and networking.
Cyber security threats are a key factor restraining the industry growth. Financial organizations and businesses store critical and confidential data in data centers. Stringent government regulations such as European General Data Protection Regulation (GDPR) are imposing rules pertaining to the safety of information in data centers. The providers must comply with the strict standards and regulations operating in the green data center market. Additionally, the technologies cost significantly higher than the traditional systems.
The green data center market in Asia Pacific will experience a strong growth of over 30% from 2018 to 2024 owing to the widespread adoption of cloud and IoT technologies in countries such as China and India. The rapid growth in the number of startups in India coupled with the favorable government initiatives such as Make in India will support the green data center market growth in the country.
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The booming industrial sector in Japan is demanding high performance equipment for mounting volumes of data from connected factories. The rise in the number of smartphone users in China are also demanding data center set ups for data storage. Infocomm Media Development Authority (IMDA) has collaborated with government agencies to develop a Singapore Standard for green infrastructure under the IT standards committee.
The green data center comprises players such as EcoDataCenter, Eaton Corporation, HCL Technologies Limited, Green House Data, Siemens AG, and Verne Global. The industry is at present in the nascent stage and is poised to grow significantly.