PUBLISHER: Grand View Research | PRODUCT CODE: 1363449
PUBLISHER: Grand View Research | PRODUCT CODE: 1363449
The global green data center market size is estimated to reach USD 200.46 billion by 2030, growing at a CAGR of 19.0% from 2023 to 2030, according to the recent reports of Grand View Research, Inc.. The market is anticipated to be driven by the surge in penetration of high-end cloud computing in organizations, the rise in spending on green data center technology, and key vendors offering Economical (ECO) mode in Uninterrupted Power Supply (UPS) to boost the adoption of green data centers. Furthermore, favorable initiatives by regulatory bodies around the world aimed at supporting cloud proliferation are boosting the demand for data centers and, as a result, shaping the market. For example, the United Arab Emirates (UAE) has supported various cloud computing projects, such as Smart Abu Dhabi and Smart Dubai. These projects sought to accelerate enterprise digital transformation while also boosting countries' economic growth.
These measures by various governments throughout the world will drive product demand, ultimately driving market growth. Furthermore, as Machine Learning (ML), the Internet of Things (IoT), Artificial Intelligence (AI), big data, and become more prevalent, worldwide electricity consumption will increase, providing another impetus for green data centers. Data centers account for 1 to 1.5 percent of global electricity usage, according to the International Energy Agency (IEA). As a result, a major emphasis on energy efficiency could propel the industry's growth. Moreover, AL and ML are expected to play a vital role in the future to efficiently cool and power data centers across the globe. Leveraging deep learning techniques, AI breaks down large volumes of data from several aspects of operating the data center and utilizes predictive modeling to gauge the effect on energy usage.
AI has demonstrated that data centers can help significantly reduce costs. These factors would further supplement the growth of the market. The adoption of a software-defined data center in the healthcare industry is expected to drive data center construction market growth in the near future. There has been an increase in medical expenditures every year. The Institute for Health Metrics and Evaluation predicts that by 2040, healthcare spending will total USD 18.28 trillion, with high-income countries spending USD 9,019 per person. Despite the nascent stage that healthcare organizations are in with adopting modern IT infrastructure changes, data management, networking, and server storage can be streamlined, unified, and improved by implementing a software-defined data center in the healthcare industry. These factors would further supplement the market growth.