According to the latest report by IMARC Group, titled “Data Center Power Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” offers a comprehensive analysis of the industry, which comprises insights on the market. The data center power market outlook report also includes competitor and regional analysis, and contemporary advancements in the market. The global data center power market size reached US$ 21.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028.
Data Center Power Market Overview:
A data center is a facility that includes computer systems and associated components, such as telecommunications and storage systems. It requires a significant amount of power to operate efficiently and reliably. It refers to the electrical energy required to run these systems and keep them cool. It consumes a lot of power due to the high number of servers, networking equipment, and cooling systems necessary to keep the hardware from overheating. The power requirements of a data center vary significantly depending on the size and complexity of the facility, as well as the type of equipment being used. It comes from various sources, including the local power grid, backup generators, and alternative energy sources such as solar or wind power. Moreover, data centers utilize advanced cooling systems to maintain optimal temperature and humidity levels, prevent equipment failures, and reduce energy consumption.
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Global Data Center Power Market Trends:
Significant growth in the information technology (IT) sector majorly drives the global market. This can be supported by the increasing digitization of enterprises and the growing adoption of mega data centers and cloud computing systems. Along with this, the rising demand for cloud data storage is leading to increased data center demand across the globe. Additionally, the growing need for the ability to provide high-performance computing, online gaming, and media streaming services among data centers, is significantly supporting the market.
In addition, several organizations in both developed and emerging economies are adopting power solutions to enhance their operations’ efficiency, scalability, and flexibility, which is acting as another growth-inducing factor. Furthermore, the increasing replacement of conventional devices with more technologically advanced alternatives is creating a positive market outlook. Some of the other factors driving the market include the widespread adoption of energy-efficient power solutions and continual technological advancements.
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Key Market Segmentation:
Top Data Center Power Companies:
- ABB
- Black Box Corporation
- Eaton Corporation
- General Electric
- Legrand SA
- Delta Electronics
- Schneider Electric
- Raritan Corporation
- Cisco Systems
- Vertiv Co.
- Tripp Lite
- Huawei
- Generac Power Systems
- Fujitsu
- Cyber Power Systems
- Server Technology
Breakup by Solution Type:
Power Distribution and Measurement
- Intelligent PDUs
- Non-Intelligent PDUs
- Monitoring Software
Power Backup
- UPS Devices
- Generators
Cabling Infrastructure
- Transfer Switches
- Switchgea
Breakup by Service Type:
- System Integration
- Training and Consulting
- Support and Maintenanc
Breakup by Size:
- Mid-Size Data Center
- Enterprise Data Center
- Large Data Cente
Breakup by Vertical:
- BFSI
- Telecommunication and IT
- Energy
- Manufacturing
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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