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Home > Data Center > The green data center market will reach USD 147.88 billion by 2024

The green data center market will reach USD 147.88 billion by 2024

The green data center market is expected to reach a value of USD 147.88 billion by 2024 registering a CAGR of 23.01 %, during the forecast period 2019 – 2024.

Seda Nur Cinar by Seda Nur Cinar
December 10, 2020 5:20 pm
in Data Center, Feature
1 min read
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The green data center market will reach USD 147.88 billion by 2024
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Industry Research has published the “Green Data Center Market” report that studied the Green Data Center market size, industry status and forecast, competition landscape, and growth opportunity. The green data center market was valued at USD 43.24 billion in 2018 and is expected to reach a value of USD 147.88 billion by 2024.

Highlights of the report

The primary factor which drives the green data center market is to regulate energy consumption regularly, as energy consumption by data centers over the years has alerted governments across the US and Europe. Green data center provides effective and eco-friendly solutions in terms of data storage and reduction in energy consumption.

Globally, the amount of data is set to grow drastically in the next few years. Therefore, the need to increase storage capacity will be growing. This is a big opportunity for every major enterprise in the data center and storage space market. According to Huawei, the global estimate of data center demand is expected to increase by 3 to 10 times by 2030.

The North American region holds the largest share in the green data center market owing to the presence of a large number of services and software providers which also drives the market forward.

Read also:  New 48 IX Internet Exchange now available for interconnection in EdgeConneX Phoenix Edge Data Center

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Seda Nur Cinar

Seda Nur Cinar

Editor of Cloud7, Seda is a Linux and opensource enthusiast, security researcher and a web application developer.

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