The global data center power market exhibited moderate growth during 2015-2020. Data center power refers to the energy management solution for devices that distribute power from the utility grids to data center racks. Such solutions utilize equipment such as Power Distribution Units (PDUs), Uninterrupted Power Supply (UPS) devices, battery monitoring systems, generators, etc. These devices regulate, measure and monitor power generation, consumption and optimization of the data center facility. In the power management system, installed PDUs can measure the power distributed over electrical grids and modulate it according to the requirements and environmental factors, such as temperature and humidity.
The growing information technology (IT) sector, increasing digitization among enterprises and the rising adoption of mega data centers and cloud computing systems, currently represent as the key factors driving the market growth. The increasing need to store data on the cloud has resulted in a growing demand for data centers, which is positively influencing the product demand across various regions. Furthermore, data centers provide high-performance computing, online gaming and media streaming, which is further augmenting their demand worldwide. Additionally, organizations in both the developed and emerging economies are adopting the power solutions for enhanced efficiency, scalability and flexibility of their business operations. Other factors such as cost optimization and the replacement of traditionally used devices with technologically advanced variants are projected to drive the market further. For instance, energy-efficient power solutions and management capabilities are increasingly being incorporated in the functioning system of data centers to reduce the high carbon emissions. Looking forward, IMARC Group expects the global data center power market to grow at a CAGR of around 6% during 2021-2026.
The report has also analysed the competitive landscape of the market with some of the key players being 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, etc.
Key Questions Answered in This Report:
The global data center power market was worth around US$ 17.8 Billion in 2019.
The sudden outbreak of the COVID-19 pandemic has augmented the demand for efficient data storage systems based on the increasing deployment of cloud-based services for work-from-home requirements.
According to the estimates by IMARC Group, the global data center power market will exhibit strong growth during the next five years.
Rapid digitization and increasing adoption of cloud computing services across several IT-based enterprises, are some of the key factors impelling the growth of the global data center power market.
Data center facilities are shifting towards renewable energy sources, such as solar, wind and geothermal power, for reducing the carbon footprints across the globe, which is one of the key trends in the global data center power market.
On the basis of the solution type, the market has been bifurcated into power distribution and measurement, power backup, and cabling infrastructure where power backup dominates the global market.
On the basis of the service type, the market has been bifurcated into system integration, training and consulting, and support and maintenance where system integration accounts for the largest market share.
Based on the size, the market has been segmented into mid-size, enterprise, and large data centers where enterprise data center holds the largest market share.
On the basis of the vertical, the market has been bifurcated into BFSI, telecommunication and IT, energy, manufacturing and others where BFSI dominates the global market.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America where North America accounts for the largest market share.
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