Global Data Center Power market is Estimated to grow at CAGR of approximately 10% during the forecast period of 2017-2023 and Data Center Power Market Report Information by Component (Solution, Service).
— Data Center Power Market Highlights:
Data center power refers to a power solution that manages power usage effectiveness (PUE) and increases the efficiency of data centers. The utilization of a huge amount of electricity in the increasing numbers of data centers globally is becoming a paramount concern. Today, power consumption in data centers is becoming a global problem, and the demand to curtail this consumption to save the environment is augmenting.
To tackle these situations, data center manufacturers are increasingly developing advanced power management solutions such as intelligent rack PDU, smart UPS, and battery monitoring equipment. Those, as a result, are driving the data center power market, minimizing the overall power consumption rate in data center infrastructures.
According to Market Research Future (MRFR) the global Data Center Power Market is projected to reach approximately USD 25 BN by 2023, registering a CAGR over 10% throughout the forecast period (2017 and 2023). Augmenting demand for data centers, alongside, the demand for data storage power consumption technology is pushing up the market growth.
In addition, factors that are substantiating the market growth include the need for cost optimization of data centers and operational expenses, irregularities in power supply through UPS systems, and rise in digitization & cloud computing. Moreover, increasing outsourcing of computing needs to cloud-based infrastructure acts as a tailwind driving the growth of the market majorly.
The widening access and capabilities of artificial intelligence (AI) and machine learning (ML) are driving the growth of the market, providing even more reliability, security, and efficiency in the data center.
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Major Key Players:
Players leading the global data center power market include Emerson Electric Company (US), ABB (Switzerland), Schneider Electric (France), Eaton (Ireland), General Electric (US), Delta Power Solutions (Taiwan), Rittal GmbH & Co. KG (US), Raritan Inc. (US), Server Technology, Inc. (US), CyberPower System (Taiwan), Tripp Lite (US), Black Box Corporation (US), Caterpillar Inc. (US), and HP Enterprise Company (US), among others.
Data Center Power Market Segmentations
The report segments the market into four key dynamics to widen the scope of understanding,
• By Component: Solution (power distribution & backup solutions, uninterrupted power supply (UPS), cabling infrastructure, and others) and Services (training & consulting, Support & maintenance, and system integration).
• By Data Center Type : Large Size Data Center, Mid-size Data Center, and Enterprise Size Data Center.
• By End-user: IT & Telecommunication, BFSI, Government, Power & Energy, Healthcare, and Retail, among others.
• By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Data Center Power Market Geographical Analysis:
The North American region leads the global data center power market. The highest share of the region comes from the increasing IT requirements and rising energy consumption concerns. The US data center power market, backed by the availability of a large number of data centers, rise in energy cost, and the presence of a large number of players drives the regional market. Furthermore, increasing investments in the data centers, especially in the US, is another key factor driving the regional market growth.
The data center Power market in the European region takes the second lead, globally. The region is heading with the augmenting demand to curtail the consumption of electricity in the increasing number of data centers region-wide.
The Asia Pacific data center power market is emerging as a promising market globally. Increasing numbers of enterprises, especially in rapidly developing countries such as China, Japan, and India, foster the market demand, witnessing increasing consumption of power in the quadrupling data centers.
India has been attracting several multinational companies with affordable labor and easy access to resources. This is inspiring a growth in the demand to reduce power consumption in data centers. Furthermore, increasing data center construction, rise in cloud-based applications, growing IT & telecom services, and government support for the data center construction are fostering the growth of the regional market.
Data Center Power Market Competitive Analysis:
Highly competitive, the data center power market appears to be fragmented due to the presence of numerous players providing these solutions & services. Players, having the regional as well as international presence, form a competitive landscape in the market. Matured players increasingly focus on maximizing their market share while small players find it challenging to compete with them.
Innovation/ Industry/Related News:
June 19, 2019 ---- Virtual Power Systems (the US), creator of Software Defined Power (SDP), announced that its work in the field of Data Center Energy Efficiency and Resilience has been recognized by IDC, naming it as "IDC Innovator". VPS’ software-defined power boosts efficiency by closing gaps in power capacity utilization.
Emerging technology companies that have demonstrated a groundbreaking business model or an innovative technology or both are named as IDC Innovators, after thoroughly analyzing their approach and ability to improve data center efficiency.
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• Technology Investors
• Research/Consultancy Firms
• Software Providers
• System Integrators
• Distributors and Resellers
• Government and Standardization Bodies
• Power & Energy Management Bodies
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