The global green data center market is anticipated to grow significantly over the forecast period. In the present scenario, several data centers in IT organizations are tackling issues such as increasing power consumption, cooling, and space. With the rising cost of electricity, regulations by government, standardization, and the corporate social responsibility of companies, there is an undying need for energy-efficient green data centers in the industry. A green data center facility is designed to optimize the performance of every component for maximum energy efficiency and reduce the environmental impact. Various advanced computing technologies and services are being implemented to optimize computing environments and further lower the cost of operations associated with enterprise computing. For lowering the computing costs, data center facilities are looking toward green solutions such as natural air cooling and precision data center cooling solutions. The construction and operations of a green data center include advance technologies and strategies such as the use of low emission building materials, paints, and carpets, waste recycling, sustainable landscaping, usage of alternative technology such as evaporative cooling, heat pumps and photovoltaic, use of electric or hybrid cars and installation of catalytic converters on generator backup.
The green data center market can be segmented based on solutions, services, industry, and user. Solutions include management software, power cooling, networking, server, and green solutions. Key services include monitoring, system integration, and professional services. These data centers can be used across a host of industries, such as healthcare, government, public, banking, and financial services, telecom, and IT. User type segmentation includes colocation providers, cloud providers, and enterprises. In North America and Europe, the climate is favorable for green data centers, and countries like Canada, Sweden have a cold climate that provides a natural cooling solution as most energy is consumed in the cooling of servers and equipment. Thus, the green data center market is expected to grow at a fast pace in North America and Europe. With the advent of the IT industry in the Asia Pacific, the demand for green data centers is high on the agenda for IT firms. Key market drivers include environmental regulations by government, increasing demand for data storage, rising energy costs. The key restraints in this market are lack of awareness, high initial cost, incompatibility of present data centers with advanced green data centers, thus posing hindrance for the market. Key market players are Cisco Systems, Oracle, Hewlett-Packard, Dell, IBM, EMC Corp, APC Corp, Huawei Technologies, Fujitsu Corp among others.
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Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.