The Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Global Market Report 2024, The data center low voltage (lv) or medium voltage (mv) power distribution market size has grown rapidly in recent years. It will grow from $3.17 billion in 2023 to $3.52 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to growing demand for data storage, expansion of cloud computing, increasing reliance on digital technologies, rise in internet usage, adoption of big data analytics.
The data center low voltage (lv) or medium voltage (mv) power distribution market size is expected to see rapid growth in the next few years. It will grow to $5.36 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to rise in data traffic, expansion of edge computing, increasing demand for high-performance computing (hpc), transition to 5g networks, focus on energy-efficient data center solutions. Major trends in the forecast period include adoption of modular and scalable power distribution solutions, increasing use of renewable energy sources in data centers, emphasis on energy efficiency and sustainability, deployment of smart grids in data centers, integration of digital twins for data center management.
The rising adoption of cloud computing is expected to propel the growth of the data center low voltage (LV) or medium voltage (MV) power distribution market going forward. Cloud computing distributes computer services such as storage, processing power, and software applications through the Internet. Cloud computing allows organizations to store and analyze massive quantities of data in centralized data centers, simplifying operations and decreasing the need for on-site servers that use a lot of electricity. This interconnection enables proactive changes, improved energy use, and sustainability, resulting in greener and more efficient data center power distribution systems. For instance, in December 2021, according to an article published by Eurostat, a Luxembourg-based statistics body for the European Union, 41% of organizations reported using cloud computing services in 2021, a 5-percentage point (pp) rise from 36% in 2020. Furthermore, Cloud computing was prevalent in big organizations, as 72% utilized it in 2021, a 7.0% increase over 2020. Therefore, the rising adoption of cloud computing will drive the data center low voltage (LV) or medium voltage (MV) power distribution market.
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The data center low voltage (lv) or medium voltage (mv) power distribution market covered in this report is segmented –
1) By Component: Hardware, Services
2) By Data Centre Sizes: Small And Medium-Sized Data Centers, Large Data Centers
3) By Application: Banking Financial Services And Insurance (BFSI), Colocation, Energy, Government, Healthcare, Manufacturing, IT (Information Technology) And Telecom, Other Applications
Product innovation is a key trend gaining popularity in the data center low voltage (LV) or medium voltage (MV) power distribution market. Major companies operating in the data center low voltage (LV) or medium voltage (MV) power distribution market are focused on developing innovative products to strengthen their position in the market. For instance, in October 2022, Vertiv, a US-based provider of data center equipment and services, expanded its power distribution portfolio by introducing Vertiv Powerbar iMPB, a modular busbar solution designed to provide smooth, on-demand power upgrades in dynamic data center environments. The Vertiv Powerbar iMPB series, available in both copper and aluminum conductor options, has capabilities ranging from 160 amps to 1,000 amps and provides dependable overhead power distribution while optimizing cooling airflow. The system is suitable for usage in data centers of practically any size or design, labs, distribution warehouses, adaptive manufacturing facilities, and other dynamic situations.
The data center low voltage (lv) or medium voltage (mv) power distribution market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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