Data Center Power Industry Overview
The global data center power market size was valued at USD 7.64 billion in 2021 and is expected to reach USD 15.0 billion by 2030, expanding at a CAGR of 7.9% from over the forecast period. Increasing the need to store data on the cloud has resulted in an upsurge in the number of data centers across the globe. These data centers consume a huge amount of energy. The rise in introducing advanced systems to reduce power consumption coupled with the emergence of modular data centers is expected to drive market growth. The COVID-19 pandemic severely affected the data center power industry, especially organizations, owing to the complete ban on offline activities across most parts of the world. However, the demand for software as a service (SaaS), along with a chance to work from home lifestyle during the pandemic, are the factors driving the need for data centers.
To reduce the power usage efficiency (PUE) ratio and to increase efficiency, companies deploy advanced power management solutions such as intelligent rack power distribution units (PDU), smart uninterruptible power supply (UPS), and battery monitoring equipment. This factor is anticipated to bode well for market growth over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Data Center Power market
The market has witnessed unprecedented growth in technologies and services driven by data centers. Technologies such as cloud computing require a high computational power; however, it offers benefits such as enhanced scalability, efficiency, and flexibility of business operations, which has resulted in many medium-sized enterprises incorporating effective data centers, such as web hosting cloud and colocation data centers. Additionally, increasing usage of data centers has resulted in the rising adoption of mega and cloud data centers. These data centers require power in large quantities for peak data-intensive operations, which subsequently drives demand for UPS and PDUs.
Traditional data centers are continuously being replaced by newer systems featuring advanced technologies and power management capabilities. The shift of the industry toward colocation and hyper-scale data centers is expected to fuel the market growth over the forecast period. However, the high initial investment required for these solutions and the inadequate availability of compatible devices may hinder the growth in the near future.
The rising cost of energy and awareness regarding energy conservation has ensued designers to opt for intelligent power management solutions. Intelligent power strips, PUE monitoring devices, and battery monitoring devices are some of the newest technologies used to optimize energy consumption in data centers and reduce the PUE ratio.
Data Center Power Market Segmentation
Based on the Product Insights, the market is segmented into PDU, UPS, Busway, and Others.
Based on the End-use Insights, the market is segmented into IT & Telecommunications, BFSI, Government, Energy, Healthcare, Retail, and Others.
Based on the Data Center Power Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Market Share Insights:
Key Companies Profile:
The competitive landscape of the projection mapping market is fragmented, featuring several global as well as regional players. The key participants are entering into strategic collaborations, partnerships, and mergers & acquisitions to expand their business footprint and survive the highly competitive environment.
Some of the prominent players in the global data center power market include:
Order a free sample PDF of the Data Center Power Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
Web: https://www.grandviewresearch.com
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1888202951Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United StatesCity: San FranciscoState: CaliforniaCountry: United StatesWebsite: https://www.grandviewresearch.com/industry-analysis/data-center-power-market