Global Data Center Power Market - Segmented by Solution, Service (Consulting, System Integration, Professional Service), End-User (Telecom, BFSI, Healthcare), and Region - Growth, Trends, and Forecast (2022 - 2030)

Data Center Power Market was worth USD 19.89 billion in 2017 and is projected to grow to USD 32.36 billion by 2023 at a CAGR of 8.45% during the period 2018-2023. The report discusses the various types of solutions provided by data center power. While the regions considered in the scope of the report include North America, Europe, and various others.

The growth of population and rapid rise of mobile and other electronic device is leading to rise in data production. The enormous data mounting caused by increasing internet usage prompts the demand for optimal data storage mechanisms. As more and more data begins to mount up, high energy-efficient data center power solutions are required. Somehow, data center operators succeeded in meeting the demand for increased computing capacity, by deploying more powerful data servers within the same physical space. This resulted in a dramatic rise in data center power consumption. These demands led to eventual up-gradation of power capacities, to support the data center assets. The expenditure for power consumption accounts for a major share of the total operating costs of a data center. Hence, the adoption of sophisticated data center power solutions has become need of the hour. It is evident that the data centers that have implemented energy-efficient initiatives have been witnessing almost 19% reduction in total IT power consumption. In order to maximize the effectiveness in data centers, a holistic approach that can identify and monitor all the energy consuming components needs to be implemented.

Increasing Concentration of Data Centers is Driving the Need for Data Center Power Solutions

Increasing consumption of internet services and growing volumes of data generation is driving the need of efficient data centers. The demand for more effective solutions and services is expected to drive the need for data centers. With rapid penetration of smartphones and internet in the region, the need for data centers has become more important than ever. Eventually, the conditions for the data center market are expected to vary accordingly. This can lead to the establishment of many other data centers to meet the demand. More the number of data centers, more the requirement for data center power systems is expected. Mega Data centers are finding increased interest from market leaders, with the companies focusing on consolidating data center assets. This is further expected drive the demand for data center power solutions designed to handle high capacity infrastructures.

High Adoption by of Power Distribution Systems for Energy Optimization

The use of data centers is growing rapidly across various industries, with the advent of IoT across various industry verticals. There is an enormous amount of information generated with a single use cycle. The consumption of energy by these data centers has been growing rapidly, with the total amount going way beyond the amount of energy being generated through the sustainable sources. Google utilized 2GW of power for maintaining the data center racks available in the server space, showing a twelve-fold rise in power consumption over the last four years. This large-scale usage of power has created a dire need for efficient data center power distribution solutions, to optimize energy efficiency.

United States Is Expected to Hold the Leading Position in the Market

The United States is one of the major data center markets in the region. Few other attributes, such as geographical location, stable power supply and political stability in the country, are encouraging the establishment of data centers in the country. It is also spared from many natural calamities that affect neighboring countries; this has apparently garnered interest from a lot of investors looking for safe overseas opportunities. Canada is one other market with similar traits in this region. However, these markets are attractive from long-term perspectives, owing to technological advancements and other favorable conditions happening within. Other such economies in North America are gaining more traction among investors, with regard to establishment of data centers. The demand for reduced latency in internet-based services in the region is boosting the demand for cloud facilities that deliver required services, located close by. This has been providing impetus to the growth of cloud data center operators in the region.

Key Developments

• September 2017 - ABB and Northvolt entered into an agreement for Europe's largest battery factory. Both partners have agreed on a technology collaboration to drive innovation in battery technology in areas such as production platform, cell and module design, and battery performance. The companies intend to have a close collaboration on development of battery solutions for mobile and stationary applications, including the potential sourcing of batteries for data centers

The major players include - ABB GROUP, EATON CORPORATION PLC, GE, HP, and SCHNEIDER ELECTRIC SE, amongst others.

Reasons to Purchase this Report

• Current and future data center power market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3-month analyst support, along with the Market Estimate sheet (in Excel).

Customization of the Report

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