Market Size –
The remote power panel market size has grown strongly in recent years. It will grow from $1.05 billion in 2023 to $1.11 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to increasing data center construction, the rise in cloud computing, the growing demand for energy-efficient power distribution, the shift towards decentralized power systems, and the heightened focus on reliable power infrastructure.
The remote power panel market size is expected to see strong growth in the next few years. It will grow to $1.4 billion in 2028 at a compound annual growth rate (CAGR) of 6%. The growth in the forecast period can be attributed to the development of edge computing, the expansion of 5G networks, increasing focus on green data centers, rising investments in smart grids, and growing demand for modular power solutions. Major trends in the forecast period include the integration of AI for predictive maintenance, adoption of smart RPPs with real-time analytics, development of portable RPP solutions, growing preference for wireless monitoring, the shift to fully automated power distribution systems.
Order your report now for swift delivery @
https://www.thebusinessresearchcompany.com/report/remote-power-panel-global-market-report
Scope Of Remote Power Panel Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Remote Power Panel Market Overview
Market Drivers –
The rapid growth of data centers is expected to propel the growth of the remote power panel market going forward. A data center is a facility that houses computer systems and associated components like storage and networking equipment, designed to store, manage, and process large amounts of data for various applications and services. The growth of data centers is rising due to the surge in digital transformation, increased demand for cloud services, big data analytics, and the expansion of the Internet of Things (IoT), which all require significant data storage and processing capabilities. Remote power panels in data centers distribute electrical power efficiently to various systems and equipment, providing better control, monitoring, and reliability for uninterrupted operations, ensuring the facility runs smoothly. For instance, in May 2024, according to the Electric Power Research Institute, a US-based non-profit organization, annual electricity consumption in U.S. data centers from 2023 to 2030 is projected to grow between 3.7% and 15%, driven by factors such as AI adoption and data center efficiency improvements, with power usage ranging from 4.6% to 9.1%.Therefore, the rapid growth of data centers is driving the growth of the remote power panel market.
Market Trends –
Major companies operating in the remote power panel market are developing innovative technologies such as smart molded case circuit breakers (MCCBs) to enhance energy management. Smart MCCBs are advanced circuit breakers that automatically shut off circuits during overloads or short circuits, with added digital communication and monitoring features. For instance, in November 2023, ABB Ltd., a Switzerland-based automation machinery company, launched the Protecta Power panel board. This advanced panel board integrates cutting-edge digital monitoring and control technologies to enhance flexible power distribution in commercial, industrial, and institutional buildings. The Protecta Power ensures stable and reliable power distribution with smart features such as the Tmax XT molded case circuit breakers, which offer built-in digital communication, protection, and control.
The remote power panel market covered in this report is segmented –
1) By Type: Floor-Standing, Wall-Mounted
2) By Application: Network Cabinets, Server Rooms, Data Centers
3) By End-User: Banking, Financial Services, And Insurance (BFSI), Information Technology (IT) And Telecommunications, Healthcare, Government And Defense
Get an inside scoop of the remote power panel market, Request now for Sample Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=19171&type=smp
Regional Insights –
North America was the largest region in the remote power panel market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the remote power panel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the remote power panel market are Siemens AG, Schneider Electric SE, ABB Ltd., Toshiba International Corporation, Eaton Corporation plc, Emerson Electric Co., Delta Electronics Inc., Legrand, Vertiv Holdings LLC, Rittal Pvt. Ltd., Lyntec, INDUSTRIAL ELECTRIC MFG, LayerZero Power Systems Inc., Hanley Energy LLC, C&C Power Inc., Alpha Technologies Inc., The EA Group, Raptor Power Systems, Jiangsu Acrel Electrical Manufacturing Co. Ltd., PwrQ
Table of Contents
1. Executive Summary
2. Remote Power Panel Market Report Structure
3. Remote Power Panel Market Trends And Strategies
4. Remote Power Panel Market – Macro Economic Scenario
5. Remote Power Panel Market Size And Growth
…..
27. Remote Power Panel Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
