Data Center Power Market Regional Outlook Opportunity Assessment and Potential of the Industry by 2030
Market Scenario:
The
global data center power market will develop at a 7.3% CAGR in the forecast
period 2020- 2027, 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.
Related Articles:
https://writeablog.net/nb2i0xpu9n
https://penzu.com/journals/27345795/83260379
Industry Updates
June
2021- EIC has launched a project for storing energy for data centers in liquid
and compressed air.
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