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 expand at a compound annual growth rate (CAGR) of 7.9% from 2022 to 2030.
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.
Gather more insights about the market drivers, restrains and growth of the Global Data Center Power Market
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.
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.
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- Cloud Computing Market – The global cloud computing market size was valued at USD 368.97 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.7% from 2022 to 2030. The introduction of emerging technologies such as Artificial Intelligence (AI) and machine learning enables cloud growth by empowering companies to tap into AI capabilities.
- Online Gaming Market – The global online gaming market is expected to witness substantial growth over the forecast period. This may be attributed to the increasing number of users taking up online gaming as an entertainment tool. Furthermore, increasing consumer awareness towards interactive entertainment systems is also expected to drive the market demand.
Data Center Power Market Segmentation
Grand View Research has segmented the data center power market based on product, end-use, and region:
Data Center Power Product Outlook (Revenue, USD Million, 2018 – 2030)
Data Center Power End-use Outlook (Revenue, USD Million, 2018 – 2030)
- IT & Telecom
Data Center Power Regional Outlook (Revenue, USD Million, 2018 – 2030)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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.
Key Companies profiled:
Some prominent players in the global data center power market include
- Black Box Corporation
- General Electric
- Generac Power Systems, Inc.,
- Huawei Technologies Co., Ltd,
- Rittal GmbH & Co. KG
- Tripp Lite
- Schneider Electric
- Vertiv Co.
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