Pune, April 14, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider's report, "The Data Center Power Market was valued at USD 8.20 billion in 2022 and is predicted to attain USD 14.96 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.8% during the forecast period of 2023-2030".
Market Report Scope
Data Center Power plays a critical role in ensuring the reliable and uninterrupted operation of data centers, which are essential for supporting the digital transformation of various industries and driving innovation in the global economy. Efficient data center power management is crucial for ensuring uninterrupted data center operations, as any disruptions or downtime can result in significant financial losses and reputational damage. Therefore, energy-efficient data center power solutions are becoming increasingly popular, driven by the need to reduce operating costs and meet sustainability goals.
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| Report Attributes | Details |
| Market Size in 2022 | US$ 8.20 Billion |
| Market Size by 2030 | US$ 14.96 Billion |
| CAGR | CAGR of 7.8% From 2023 to 2030 |
| Key Segments | • by Type (Solutions, Service) • by Equipment ( heavy and compact construction equipment) • by Components (Power distribution, Power monitoring, Power backup, Cabling infrastructure) • by Application (Colocation Providers, Cloud providers, Hyperscale data centers, BFSI, IT and Telecommunication, Media and Entertainment, Healthcare, Government, Defense, Retail, and Manufacturing) |
| Company Profiles | Vertiv Group Corp., ABB Ltd., Eaton, Corporation PLC, Toshiba Corp., Siemens AG, Legrand S, Mitsubishi Electric Corporation, Delta Electronics Inc., Cisco Systems Inc. |
| Key Drivers | • Reduce operational costs. • Power systems that are both energy efficient and cost effective. |
Market Analysis
The growth of the data center power market can be attributed to various drivers, such as the increasing demand for cloud-based services, the rising adoption of IoT devices, the surge in data traffic, the growing need for data storage, and the increasing focus on energy-efficient data center solutions. Additionally, the rise of artificial intelligence and machine learning applications, the proliferation of big data analytics, and the need for high-performance computing are also expected to drive the demand for data center power solutions. The increasing investments in data center infrastructure and the implementation of government regulations for energy-efficient data centers are further expected to fuel the growth of the market.
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Impact of Recession
The impact of a recession on the data center power market will depend on various factors, including the severity and duration of the economic downturn, the specific industries and businesses affected, and the overall demand for digital infrastructure and services. Nonetheless, the long-term outlook for the market remains positive, as the digital transformation of various industries continues to drive demand for data center solutions.
Key Regional Development
The North American data center power market is evolving rapidly, driven by the need for sustainable and efficient power management solutions. The adoption of these solutions is not only beneficial to businesses but also to the environment, as it helps to reduce carbon footprints and energy consumption. The trend towards renewable energy sources is also a step in the right direction towards a more sustainable future.
Key Takeaway from Data Center Power Market Study
- The market has been experiencing a significant shift in recent years, with the solution segment emerging as the dominant player. This segment comprises companies that provide comprehensive solutions for data center power management, including hardware, software, and consulting services.
- The power distribution segment holds a significant share in the market and is expected to witness robust growth in the coming years. With the increasing demand for data center services, there is a growing need for advanced power distribution solutions that can ensure uninterrupted power supply to critical IT infrastructure.
Recent Developments Related to Data Center Power Market
- Cyfuture, a leading provider of data center, cloud and outsourced support services, has announced its plans to build a new data center in India. This move is part of the company's efforts to expand its presence in the Indian market and cater to the growing demand for data center services.
- Telecommunications Engineering and Consulting Services Limited (TEECL), a leading provider of telecom and IT services, has commenced the installation of a new 5.6 MW data center in India. The project is expected to cost around 750 crores and will be one of the largest data centers in the country.
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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Data Center Power Market Segmentation, by Type
9. Global Data Center Power Market Segmentation, by Components
10.Global Data Center Power Market Segmentation, By Application
11.Regional Analysis
12.Company Profiles
13.Competitive Landscape
14.Conclusion
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