Unlock stock picks and a broker-level newsfeed that powers Wall Street.
Data Center Power Market Anticipated to Garner USD 31.6 Billion by 2032, with a CAGR of 6.40% - Report by Market Research Future (MRFR)
Market Research Future
Updated 6 min read
Market Research Future
Data Center Power Market to Experience Growth Driven by Industry Trends
Tokyo, Japan, May 01, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Data Center Power Market” information By Component, By Data Center Size, By End-User – Global Forecast till 2032” market size to reach USD 31.6 Billion, growing at a compound annual growth rate of 6.40% by 2032.
Market Scope:
The global data center power market is set to experience growth driven by industry trends and regional analysis, according to a recent report by Market Research Future Insights. The report provides insights into the current state of the market and predicts future growth based on various factors such as market segmentation, regional analysis, industry trends, and the impact of COVID-19.
Dominant Key Players on Data Center Power Industry Covered are:
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Market Opportunities
In North America, the market in the U.S. is expected to have a greater share owing to the availability of a large number of data centers, rise in energy cost, and presence of a large number of players in this region.
Key Market Drivers
The key factors driving the market include cost optimization of data centers for minimizing energy consumption and operational expenses, irregularities in power supply through UPS systems, and rise in digitization & cloud computing.
Market Segmentation: Understanding the Data Center Power Market
The report provides a comprehensive analysis of the data center power market, which is segmented by solution type, service type, end-user, and region. By solution type, the market is segmented into power distribution and measurement, backup power, and cabling infrastructure. By service type, the market is segmented into consulting, installation and integration, and support and maintenance. By end-user, the market is segmented into IT and telecommunications, BFSI, healthcare, government and defense, energy, and others.
Industry Trends: Key Drivers of Growth in the Data Center Power Market
The report identifies key drivers of growth in the data center power market. One of the key drivers is the increasing demand for high-performance computing and storage solutions. This is driven by the growth of data-intensive applications, such as big data analytics, artificial intelligence, and the Internet of Things (IoT). These applications require high-performance computing and storage solutions, which in turn require robust and reliable data center power solutions.
Another key driver of growth is the increasing adoption of cloud computing. Cloud computing has become a popular choice for businesses of all sizes due to its scalability, cost-effectiveness, and flexibility. As more businesses move their workloads to the cloud, the demand for data center power solutions is expected to increase.
COVID-19 Impact: The Resilience of the Data Center Power Market
The report also analyzes the impact of the COVID-19 pandemic on the data center power industry. The pandemic has had a significant impact on businesses and industries worldwide, and the data center power market is no exception. However, the market has shown resilience in the face of the pandemic, with many businesses investing in data center power solutions to support their remote workforces.
Regional Analysis: Key Markets in the Data Center Power Market
The report provides a detailed analysis of key markets in the data center power market. These include North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to be the largest market for data center power solutions due to the presence of a large number of data centers in the region. Europe is expected to be the second-largest market due to the increasing adoption of cloud computing and the growth of the IT and telecommunications sector in the region. Asia Pacific is expected to be the fastest-growing market due to the increasing adoption of cloud computing and the growth of the IT and telecommunications sector in the region.
Competitive Landscape: Key Players in the Data Center Power Market
Eaton Corporation PLC is a US-based power management company that provides solutions for the energy, electrical, and mechanical industries. The company offers a wide range of data center power solutions, including power distribution units, uninterruptible power supplies, and power management software.
Schneider Electric SE is a French multinational corporation that specializes in energy management and automation solutions. The company offers a wide range of data center power solutions, including power distribution units, uninterruptible power supplies, and energy management software.
ABB Ltd. is a Swiss-Swedish multinational corporation that provides power and automation technologies for various industries, including data centers. The company offers a wide range of power solutions for data centers, including power distribution and measurement, power backup, and cabling infrastructure.
General Electric Company is an American multinational conglomerate that provides a wide range of products and services, including power solutions for data centers. The company offers a wide range of power solutions for data centers, including power distribution and measurement, power backup, and cabling infrastructure.
Recent Developments in Datacenter Power Market: Market Leaders Focused on Innovation and Collaboration
In the highly competitive data center power market, market leaders are focused on innovation and collaboration to stay ahead of the competition. Recent developments in the market include new product launches, partnerships and collaborations, and mergers and acquisitions.
ABB Ltd., a major player in the datacenter power market, recently launched a new range of modular data center solutions that offer high energy efficiency and reliability. The company has also collaborated with Microsoft to develop a new cloud-based datacenter solution that is designed to reduce energy consumption and improve operational efficiency.
Another major player in the market, Schneider Electric SE, has announced a partnership with Cisco to develop a new datacenter architecture that integrates power and IT infrastructure. The new architecture is designed to improve operational efficiency and reduce costs for datacenter operators.
About Market Research Future: Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Market Research Future (Part of Wantstats Research and Media Private Limited) 99 Hudson Street, 5Th Floor New York, NY 10013 United States of America +1 628 258 0071 (US) +44 2035 002 764 (UK) Email: sales@marketresearchfuture.com Website: https://www.marketresearchfuture.com
