Market Size of On-Site Photovoltaic Solar Power for Data Centers Industry
| Study Period | 2019-2027 |
| Base Year For Estimation | 2021 |
| CAGR | > 17.00 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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On-site Photovoltaic Solar Power for Data Centers Market Analysis
The on-site photovoltaic solar power for data centers market is expected to grow at a CAGR of more than 17% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, the decreasing solar power installation costs and growing focus on implementing sustainable business practices, such as having an independent and renewable power source for data centers, are expected to drive the market.
- On the other hand, the lack of space for small data centers to install solar panels is expected to hinder market growth during the forecast period.
- Nevertheless, the large-scale commercialization of building-integrated photovoltaic technology into small data centers is expected to be a significant opportunity for the sector beyond the forecast period.
- North America dominates the market and will likely witness the highest CAGR during the forecast period. This growth is attributed to the increasing investments, coupled with supportive government policies for installing solar PV systems to power data centers in this region, including the United States of America (USA) and Canada.
