The global data center power market was valued at US$ 15.1 Billion in 2017 and is expected to surpass US$ 31.3 Billion by 2027, registering a CAGR of 7.1% during the forecast period (2019-2027), according to the Global Data Center Power Market Report, By Component (Solution (Power Distribution, Power Monitoring, Power Backup, and Cabling Infrastructure) and Services (Design and Consulting, Integration and Deployment, and Support & Maintenance)), By End Users (Enterprises, Colocation Provider, Cloud Providers, and Hyperscale Data Centers), by Data Center Size (SMEs Data Centers and Large Data Centers), By Deployment Type (On-premises and Cloud), By Vertical (BFSI, IT and Telecommunication, Media and Entertainment, Healthcare, Government and Defense, Retail, Manufacturing, and Others (Energy, Research and Academia, and Transport and Logistics), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa), published by Coherent Market Insights.
Renovation of traditional data centers into new data centers to minimize power usage is expected to drive the market growth during the forecast period. The increase in data generation and to improve the performance of data centers the need for renovating old data centers has increased. The data center renovation enhances facilities, minimizes the load of IT requirements, increases available space and power, and improve overall efficiency and reliability of the data centers. Moreover, data center manufacturers are renovating their data centers, as it costs less as compared to building new data centers. Furthermore, it also minimizes the short term issues such as space limitation, power shortage, and cooling requirements. For instance, in December 2014, Delta Electronics, Inc., a U.S.-based company which provides power management and thermal solutions, launched InfraSuite RowCool DXA 35kW cooling units in China. The new product is used to save total power consumption in data centers. Thus, an increase in the number of data center renovation is expected to provide lucrative opportunities for data center manufacturers. The renovation of traditional data centers into new data centers, along with advanced technologies such as cloud and artificial intelligence offers various benefits such as reliability, adaptability, scalability, and cost-efficiency to the end users. This, in turn, increases demand for data center power, thereby driving the market growth.
Data Center Power Market - Impact of Coronavirus (Covid-19) Pandemic
Due to Covid-19 pandemic, many industries witnessed positive shift in their business. There is significant impact on data center power market, as most of the countries have announced lockdown and many industries are rapidly closing their business to contain the spread of COVID-19 pandemic. Furthermore, the healthcare sector need more secure and scalable cloud infrastructure in order to maintain proper patient information and COVID-19 research details. During the pandemic, there is high need for advanced technologies such as cloud computing and big data analytics for the analysis of patient data and to track the contact history of patients. The increasing data in healthcare sectors is leading to rising demand for data centers to save these large amount of data, which has positively impacted demand for data center power.
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