The data center power global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Data Center Power Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Data Center Power Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Data Center Power Market Overview
Market Drivers –
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.
Market Trends –
Technological advancement is key in the data center power market. Major companies operating in the data center power market are focusing on developing new technological solutions to sustain themselves in the market. For instance, in June 2021, Hitachi ABB Power Grids, a Switzerland-based company operating in data center power, announced its new lifecycle management program technology. It gives users the ability to map and track the installed assets they have to fulfill the most pressing operational and technological requirements and to deliver full lifecycle value for their assets. The grid automation shield program offers the most recent details on the product lifetime and related services necessary for operation optimization.
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
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Regional Insights –
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.
Key Companies –
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.
Table of Contents
- Executive Summary
- Data Center Power Market Report Structure
- Data Center Power Market Trends And Strategies
- Data Center Power Market – Macro Economic Scenario
- Data Center Power Market Size And Growth
…..
- Data Center Power Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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