Data Center Power Market Size Was Valued at USD 8.69 Billion in 2023, and is Projected to Reach USD 17.23 Billion by 2032, Growing at a CAGR of 7.9% From 2024-2032.
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:
ABB (Switzerland),Black Box (United States),CyrusOne (United States),Eaton (Ireland),Equinix Inc. (United States),GDS Holdings (China),Generac Power Systems, Inc. (United States),General Electric Company (United States),Huawei Technologies Co., Ltd. (China),Legrand (France),N1 Critical Technologies (United States),NTT Global Data Centers (Japan),Raman Power Technologies (India),Rittal GmbH & Co. KG (Germany),Schneider Electric (France),Vertiv Group Corp. (United States),Other Key Players.
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The report summarizes all the information collected and serves the customer’s requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.
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.
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Segmentation Analysis of the Data Center Power Market:
By Component
- Lithium-ion
- Lead Acid
- Others
By Solutions
- End of life
- Production Scrap
By Services
- Passenger Cars
- Buses
- Vans
- Others
By End-use
- IT & Telecommunications
- BFSI
- Government
- Energy
- Healthcare
- Retail
- Others
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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.
By Regional Outlook
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
- In October 2023, ABB Equity released information that ZincFive is now among the list of authorized UPS products vendors. This progression brings nickel-zinc batteries in a position to compete with lithium-ion and lead-acid batteries that are currently incorporated and backed inside of ABB’s UPS solutions.
- In July 2023, At a recent event in Bangalore, ABB India’s Electrification launched simply the MegaFlex DPA UPS solutions developed for the Indian market. Integrated into ABB EcoSolutions, this pioneering efficient and sustainable UPS can be regarded as in compliance with the ABB circularity framework. Built specifically for use in data centres and other high-density computing environments, this is the most energy efficient model, taking up minimal space. With the trending use of SaaS and IaaS Apps by enterprises, it is important that data center offers high availability.
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