Market Overview:
The Global Data Center Power Market Size Was Valued At USD 9.01 Billion In 2022 And Is Projected To Reach USD 14.47 Billion By 2030, Growing At A CAGR Of 6.1% From 2023 To 2030.
A data center is a dedicated hardware facility encompassing networking, storage, and communication technology, vital for various sectors including government, education, finance, retail, and online services. Power management solutions play a crucial role due to high energy consumption, with the expanding data center market driven by cloud computing. Continuous advancements are needed to manage the substantial energy demands of data centers with numerous servers, making Data Center Power a promising growth sector in the forecast period.
Top Key Players for Data Center Power Market:
Server Technology Inc., Tripp Lite, Black Box Corporation, Hewlett Packard Enterprise Company, Cyber Power Systems Inc., ABB Group, Schneider Electric, General Electric, Eaton Corporation, Delta Electronic Inc., Raritan Inc., Rittal Corporation, Vertiv, Huawei, Legrand, Toshiba, Siemens, N1 Critical Technologies and other major key players.
Market Dynamics and Factors for Data Center Power Market:
Drivers:
Rising Demand of Enterprises To Reduce Operational Expenses
The Data Center Power Market is experiencing a surge in demand driven by enterprises seeking to curtail operational expenses. This push is attributed to the escalating need for efficient power management solutions that can optimize energy consumption, mitigate costs, and enhance overall operational efficiency. As businesses increasingly rely on data centers for critical operations, the imperative to reduce power-related expenditures becomes paramount. This demand is propelling innovation in power technologies, leading to the development of advanced solutions that not only meet power requirements but also contribute to sustainability goals, positioning the Data Center Power Market for substantial growth in the foreseeable future.
Opportunities:
Increasing the Efficiency by Renovating Data Centers
Renovating data centers to enhance efficiency presents a significant opportunity in the technology landscape. As existing data center infrastructures age and newer, more efficient technologies emerge, organizations can capitalize on this opportunity to modernize their facilities. By upgrading hardware, optimizing cooling and power management systems, and adopting advanced data center designs, businesses can achieve higher energy efficiency, reduce operational costs, and improve overall performance. This renovation-driven efficiency boost not only aligns with sustainability objectives but also positions companies to meet the growing demands of data-intensive applications and services, thus fostering innovation and competitiveness in the ever-evolving digital realm.
Segmentation Analysis of the Data Center Power Market:
- By Solution, "Power Distribution" dominates due to its crucial role in efficiently managing and delivering consistent power to various data center components. This dominance is attributed to the increasing demand for reliable power distribution to support growing server densities and ensure uninterrupted operations.
- By End-Users, the "IT and Telecommunications" segment dominates the Data Center Power Market due to the exponential growth in data-driven technologies, cloud services, and communication networks, necessitating robust and scalable power solutions to ensure uninterrupted operations and data integrity.
Regional Analysis of the Data Center Power Market:
The Data Center Power Market is predominantly dominated by North America due to its advanced technological infrastructure, high concentration of data centers, and substantial investments in cloud computing and digital services. Additionally, stringent regulations and growing awareness of energy efficiency drive the adoption of advanced power solutions in data centers across the region, further solidifying its dominance in the market.
Key Industry Development:
- In March 2020, The Smart-UPS Lithium-ion was the first UPS category introduced by Schneider Electric. It is intended for small data centers and regional edge environments. The second category is the APC Easy UPS 1 Ph Online, a flexible, superior-quality, and reasonably priced UPS designed to manage high voltage and erratic power circumstances.
