The growth of digital business in European Union countries and the United States continues to increase, so that the Green DC Energy market in Europe and the US also increases.
Behind this increase, we can find interesting things, namely the green DC energy market share in Europe and the US.
The Global Green DC Energy Market Size
The global green DC energy market is expected to reach USD 5.79 billion by 2023, according to a new report by Grand View Research, Inc. Increasing demand for green energy sources owing to their benefits such as reducing carbon footprint,
improving energy efficiency and reduced operational cost is the major factor driving the growth of this market. The increasing use of green DC energy in data centers is expected to be a key driver of industry growth over the next five years.
The global data center energy market is driven by rising demand for renewable energy sources and increasing adoption of DC power systems in various applications.
Global Green Data Center Market Size
The European Union (EU) is estimated to hold a major share of the global green DC energy market in 2018, followed by North America and the Asia Pacific (APAC). The APAC region is expected to witness the fastest growth during the forecast period.
Verified Market Research forecasts that the Global Green Data Center Market will grow from $46.7 billion in 2020 to $104.5 billion by 2025, at a compound annual growth rate (CAGR) of 20.4% from 2020 to 2025.
The Green data center market is driven by growing awareness about the environment among businesses and government agencies. Green data centers help companies reduce their carbon footprint, energy costs, and operating expenses. Moreover, green data centers help organizations comply with environmental regulations across regions.
The key players in the global green data center market are Cisco Systems Inc., Equinix Inc., Amazon Web Services, Inc., Microsoft Corporation, Netlifx Inc., Google LLC., Apple Inc., IBM Corporation, and Hewlett Packard Enterprise Company Limited (HPE), Oracle Corporation, and Fujitsu Limited.
Europe Green DC Energy Market Size (USD Million)
The Europe green DC energy market size was valued at USD 6.6 billion in 2017 and increased to USD 10.5 billion in 2022, at a CAGR of 8.9% from 2018 to 2022.
The increasing adoption of large-scale wind and solar PV installations has increased the demand for green DC energy storage systems.
In addition, the growing need for renewable sources of energy coupled with the rising demand for electric vehicles is also driving the growth of this market. However, short life cycles and the high cost of batteries are some major restraints for this market.
North America Green Corporation Energy Market Size (USD Million)
The North American green corporation energy market size is expected to reach USD 34.80 billion by 2023, at a CAGR of 23.2% during the forecast period.
The demand for green corporation energy is growing due to government regulations on emissions and increasing demand for eco-friendly products and services.
The increasing investments in renewable energy sources are driving the green corporation energy market growth. However, high initial investment and a lack of awareness about the benefits of clean energy solutions are expected to restrain the growth of this market.
Green Data Center Investment
The adoption of green data centers has gained momentum in recent years due to their ability to reduce carbon footprint and lower operational costs.
Power management systems in these facilities have been designed to utilize free cooling and to efficiently use IT equipment to reduce energy consumption, thereby reducing carbon emissions.
Increasing demand for more computing power is driving up energy consumption in these facilities. Therefore, it is important to reduce operational costs by improving efficiency and reducing operational expenditure (OPEX).
When it comes to green data center investment, many businesses look at how they can reduce or eliminate their carbon footprint by using renewable energy sources, recycling materials, and using recycled products.
Some companies also take a closer look at their building design and construction materials to see if there are any ways they can make them more environmentally friendly.
A green data center can cut down your business’s costs by up to 30%. It also reduces the amount of energy consumed by your company, which in turn reduces greenhouse gas emissions.
Read More: Developing Net Zero Emissions
The demand for green data center investment in Asia is increasing rapidly. The rising economies in Asia are looking for ways to cut their carbon footprint and reduce their energy costs.
In an effort to become greener, many countries are taking steps to reduce their carbon footprint by investing in green data centers. In fact, according to Forbes, there are over 150 companies that have pledged to go 100 percent renewable by 2020 or sooner.
The energy consumption of data centers is increasing at a rapid pace and is expected to reach 1.3% of the total electricity consumption in the world by 2020.
The major drivers for the growth of the data center market are increasing demand for cloud computing, increased need for IT infrastructure, a growing number of users, high rate of adoption of smartphones, high adoption rates of IoT devices, etc.
The major restraints in this market are high capital expenditure and lack of skilled manpower. There is also an urgent need for investment in research and development activities in order to increase power efficiency.
The demand for green data centers is increasing rapidly in Asia, especially in Indonesia. There are a number of reasons why this is happening:
- The country has a growing economy and consumer base, making it an attractive market for many businesses.
- Indonesia has abundant land resources with plenty of room to build new data centers.
- The country has some of the lowest electricity rates in Asia (around $0.11 per kWh). The average cost of electricity per kW/h is $0.28 cents/kWh)
Indonesia is one of the countries that urgently need green data center investment. There are many companies that have been investing in green data center infrastructure in Indonesia recently.