Categories: Market Research

Data Center Power Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Data center power management refers to a comprehensive process that will make it possible for manage, gauge, and keep an eye on the production, use, and optimization of power inside a data center building. The data center power is used in identifying, implementing, and monitoring processes for improving power efficiency in the data center, both at the hardware and software levels.

Sizing and Forecast
The data center power market size has grown strongly in recent years. It will grow from $23.17 billion in 2023 to $24.75 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to increasing data center demand, rising data traffic, data center consolidation initiatives, focus on energy efficiency, government regulations for energy efficiency, green data center initiatives..

The data center power market size is expected to see strong growth in the next few years. It will grow to $32.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to energy storage integration, remote management and monitoring, deployment of modular data centers, focus on power quality and reliability, regulatory support for sustainable practices, demand for scalable power infrastructure.. Major trends in the forecast period include advanced power distribution and management systems, hybrid and multi-cloud environments, high-density computing and cooling solutions, enhanced monitoring and analytics, collaboration for innovation..

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Segmentation & Regional Insights
The data center power market covered in this report is segmented –

1) By Product: PDU, UPS, Busway, Other Products
2) By Components: Solution, Services
3) By Tier Standards: Tier I and II, Tier III, Tier IV
4) By UPS Systems: <=500kVA, 500−1,000kVA, >1,000 kVA
5) By End-Use: IT and Telecommunications, BFSI, Government, Energy, Healthcare, Retail, Other End-Users

Asia-Pacific was the largest region in the data center power market in 2023. Asia-Pacific is expected to be the fastest-growing region in the data center power market report during the forecast period. The regions covered in the data center power market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increase in need to store data in the cloud is driving the growth of the data center power market going forward. Cloud storage refers to a cloud computing model that will store data on the Internet through a cloud computing provider that will manage and operate data storage as a service. For an organization, a data center holds servers and/or data storage. This will include the hardware itself, the space in which it is housed, the power systems and backup systems, environmental controls, and anything else needed to keep those servers running. For instance, In June 2022, according to an article published by Cloudwards, a US-based reviews software and tools company data, In the first quarter of 2021, cloud services infrastructure spending increased to $41.8 billion on a global level than 2020, this was a 35% year-on-year growth and a 5% quarter-on-quarter rise. Therefore, the increasing need to store data in the cloud is driving the growth of the data center power market.

Key Industry Players
Major companies operating in the data center power market report are ABB Ltd., Anord Mardix Inc., Cisco Technology Inc., Delta Electronics Inc., Eaton Corporation plc, Huawei Technologies Co Ltd., Schneider Electric SE, Siemens AG, Toshiba Corporation, ZincFive Inc., Cyber Power Systems, General Electric company, N1 Critical Technologies Inc., PDU Experts solutions, Socomec Group S.A., AEG Power Solutions, Alpha Technologies, Ametek Powervar, Black Box Corporation, Caterpillar Inc., Cummins Inc., Cyberex, Emerson Network Power, Fuji Electric Co. Ltd., Generac Power Systems, Hitec Power Protection, Legrand SA, Mitsubishi Electric Corporation, MTU Onsite Energy, Piller Power Systems, Power Innovations International Inc., Power-One Inc.

The data center power market report table of contents includes:

1. Executive Summary

2. Data Center Power Market Characteristics

3. Data Center Power Market Trends And Strategies

4. Data Center Power Market – Macro Economic Scenario

5. Global Data Center Power Market Size and Growth

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31. Global Data Center Power Market Competitive Benchmarking

32. Global Data Center Power Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Data Center Power Market

34. Data Center Power Market Future Outlook and Potential Analysis

35. Appendix