Rajkot News Today

Data Center Power Market To Grow At A CAGR Of 7.9% By 2030, Owing To Rising Demand From Data Centers Across The Globe | Grand View Research, Inc.

 Breaking News
  • No posts were found

Data Center Power Market To Grow At A CAGR Of 7.9% By 2030, Owing To Rising Demand From Data Centers Across The Globe | Grand View Research, Inc.

June 08
08:56 2022
Data Center Power Market To Grow At A CAGR Of 7.9% By 2030, Owing To Rising Demand From Data Centers Across The Globe | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting
According to a new report published by Grand View Research, The market is majorly driven by the shift in focus of end-users towards hyper-scale and colocation data centers. Rising establishments of such data center facilities are anticipated to result in an increasing demand for data center power equipment during the forecast period.

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.

U.S. data center power market size, by product, 2020 - 2030 (USD Billion)

 

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.

  • The market has been segmented into UPS, PDU, busway, and others. UPS led the market in 2021. Growing implementation of cloud computing coupled with the need for sensitive and ubiquitous data has encouraged the installation of this product.
  • The PDU segment is expected to register a CAGR of around 8.4% from 2022 to 2030. The growth is mainly driven by the snowballing demand for intelligent power distribution units. Over the last few years, companies are shifting towards the adoption of intelligent PDUs against simple multi-socket racks with server and network equipment.

 

Based on the End-use Insights, the market is segmented into IT & Telecommunications, BFSI, Government, Energy, Healthcare, Retail, and Others.

  • The data center power market is segregated into IT and telecommunications, banking, financial services, and insurance (BFSI), government, energy, healthcare, retail, and others. The IT and telecommunications sector emerged as the fastest-growing segment and is expected to exceed USD 2.5 billion by 2030.
  • Increasing focus on digitization is one of the main reasons for the high demand for BFSI services. Moreover, the industry has shifted its focus on cloud computing and cloud networking to increase banking capacities; resulting in huge demand for data centers.

 

Based on the Data Center Power Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

  • North America held the largest market share in terms of revenue in 2021 as the region has the highest number of data centers in the world. Various norms and regulations have been introduced and implemented by governments and regulatory bodies to reduce carbon footprints and energy consumption.
  • Asia Pacific is expected to witness a high CAGR during the forecast period, owing to the rapid increase in the volume of colocation data centers in emerging countries, such as India and China.

 

Market Share Insights:

  • January 2022, Eaton business launched Tripp Lite practical option for controlling and connecting network equipment in industrial conditions such as warehouses and factories.
  • March 2020: Schneider Electric launched its first UPS category Smart-UPS Lithium-ion. It is designed for local edge environments and micro data centers.

 

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:

  • ABB
  • Black Box Corporation
  • Eaton
  • General Electric
  • Generac Power Systems, Inc.,
  • Huawei Technologies Co., Ltd,
  • Legrand
  • Rittal GmbH & Co. KG
  • Tripp Lite
  • Schneider Electric
  • Vertiv Co.

 

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 Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1888202951
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/data-center-power-market

Related Articles