Data Center Power Market Growth Rate, Upcoming Trends and Forecast By 2028
According to the latest report by IMARC Group, titled “Data Center Power Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” offers a comprehensive analysis of the industry, which comprises insights on the data center power market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global data center power market size reached US$ 21.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028.
Data Center Power Market Overview:
Data center power refers to an essential component of the data center infrastructure management (DCIM) system that provides administrative control over electrical energy tools and processes of data centers. It enables the management, monitoring, and measurement of power generation, consumption, and optimization within a data center facility. Some commonly used power management solutions include Power Distribution Units (PDUs), Uninterrupted Power Supply (UPS) devices, generators, and battery monitoring systems. They aid in distributing energy from the utility grids to data center racks efficiently at lesser Power Usage Effectiveness (PUE) ratios. They also assist in lowering carbon dioxide emissions and scheduling capacity increments while considering future power requirements. Since they ensure efficient energy distribution and uninterrupted operation, even during large-scale power outages, data center power solutions are gaining immense traction across the globe.
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Global Data Center Power Market Trends:
Rapid digitization among enterprises coupled with the increasing adoption of cloud computing solutions represents the primary factor driving the market growth. This is further supported by significant expansion in the information technology (IT) sector.
Moreover, the growing need to store data on the cloud has led to an increase in the establishment of mega data centers that require power in large quantities for peak data-intensive operations. In line with this, the rising preferences for advanced power distribution and management solutions in data centers due to inflating electricity prices have augmented product demand. In addition, there has been widespread adoption of power solutions among organizations for higher efficiency, scalability, and flexibility in their business operations. Along with this, the escalating demand for data centers, as they offer high-performance computing, online gaming, and media streaming, has propelled the market growth.
Furthermore, the recent shift among data center facilities toward renewable energy, such as solar, wind, and geothermal power, to minimize their carbon footprint has catalyzed market growth. Other factors, including the emergence of connected medical devices, rising modular data center deployments and upgradation of existing ones, heavy investments in smart cities, and technological advancements, are also creating a favorable market outlook.
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Key Market Segmentation:
Top Data Center Power Companies:
- ABB
- Black Box Corporation
- Eaton Corporation
- General Electric
- Legrand SA
- Delta Electronics
- Schneider Electric
- Raritan Corporation
- Cisco Systems
- Vertiv Co.
- Tripp Lite
- Huawei
- Generac Power Systems
- Fujitsu
- Cyber Power Systems
- Server Technology
Breakup by Solution Type:
Power Distribution and Measurement
- Intelligent PDUs
- Non-Intelligent PDUs
- Monitoring Software
Power Backup
- UPS Devices
- Generators
Cabling Infrastructure
- Transfer Switches
- Switchgea
Breakup by Service Type:
- System Integration
- Training and Consulting
- Support and Maintenanc
Breakup by Size:
- Mid-Size Data Center
- Enterprise Data Center
- Large Data Cente
Breakup by Vertical:
- BFSI
- Telecommunication and IT
- Energy
- Manufacturing
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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