Data Center Power Market to grow at cagr of 6.40% by 2030
Market Scenario:
The global data center power market will develop at a 6.40% CAGR in the forecast period 2022- 2030, states the latest Market Research Future (MRFR) analysis. Data center power, put simply, is a power solution for managing the power usage effectiveness and boosts the efficiency of data centers. The data center manufacturers are creating advanced power management solutions like battery monitoring equipment, smart UPS, and intelligent rack PDU to decrease the power consumption rate overall.
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Various factors are fuelling the global data center power market demand. As per the recent MRFR market estimates, such factors include cost optimization of data centers to minimize energy consumption and irregularities, operational expenses in power supply through UPS systems, increase in cloud computing and digitalization, increasing use of social media, the adoption of mobile computing and online services by business that need a large volume of storage and thus organizations outsource their computing needs to cloud-based infrastructure, and increasing construction of new data centers due to increasing demand for data storage by organizations worldwide. The additional factors adding market growth include the increase in the construction of hyper-scale data centers, increasing cost of energy, growing awareness among industry players, development and growing use of modular data centers, increasing use of OTT content services, shift towards intelligent power managing solutions, growing need for high power rating solutions, rapid infrastructure development of various end-use segments, widespread adoption of IoT and cloud computing, increase in data centers, and increasing urbanization.
On the contrary, complexity of data center designs, high initial investment, various standards requirements, rising cost of raw materials and skilled labour, and slowdown in the semiconductor industry may impede the data center power market growth in the forecast period.
Competitive Outlook:
The leading players profiled in the global data center power market report include HP Enterprise Company (U.S.), Caterpillar Inc. (U.S.), Black Box Corporation (U.S.), CyberPower System (Taiwan), Tripp Lite (U.S.), Server Technology, Inc. (U.S.), Rittal GmbH & Co. KG (U.S.), Raritan Inc. (U.S.), Delta Power Solutions (Taiwan), Eaton (Ireland), General Electric (U.S.), Schneider Electric (France), Emerson Electric Company (U.S.), and ABB (Switzerland), among others.
Segmentation:
The MRFR report throws light on an inclusive segmental analysis of the data center power market on the basis of end users, components, and data center type.
By component, the data center power market size is classified into service & solution. The solution segment is again divided into cabling infrastructure, uninterrupted power supply, power distribution and backup solutions, and others. The service segment is again segmented into system integration, support and maintenance, and training and consulting. Of these, the power distribution and backup solutions will lead the market over the forecast period.
By data center type, the data center power market trends is classified into enterprise size data center, large size data center, and mid-size data center. Of these, the large size data center will dominate the market over the forecast period.
By end user, the global data center power market is divided into retail, healthcare, power and energy, government, BFSI, IT and telecommunication, and others. Of these, power and energy will spearhead the market over the forecast period.
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COVID-19 Analysis
The COVID-19 outbreak has increased the need for leasing or colocation services and a boom in the construction of new data center facilities too has been witnessed. This crisis has boosted the need for new data centers owing to the growing need from online events, online education, remote working, and online shopping. The adoption of cloud has witnessed acceleration, thus boosting the demand for data centers across the globe.
Regional Analysis:
Based on region, the global data center power market covers the recent trends and growth opportunity across Europe, North America, the Asia Pacific (APAC), and Rest of the World (RoW). Of these, North America will rule the market over the forecast period. Increasing IT needs, rising energy consumption concerns, the availability of a large number of data centers in the US, rise in energy cost, the presence of several key players, and the region being the hub for cloud service providers and operators due to tax incentives and affordable utility rate are adding to the global data center power market growth in the region.
In the APAC region, the global data center power market is predicted to have healthy growth over the forecast period. Increasing data center construction, growing IT and telecom services, rise in cloud-based applications, government support for data center construction, and rising adoption of advanced technologies like cloud computing and IoT are fuelling the data center power market growth in this region.
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Industry Updates
June 2021- EIC has launched a project for storing energy for data centers in liquid and compressed air.
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