Data Center Power Market to Reach US$ 41126.1 Mn by 2030

The global Data Center Power Market was valued at US$ 21298.9 million in 2021 and is expected to surpass US$ 41126.1 million by 2030, registering a CAGR of 7.8% during the forecast period (2022-2030), 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 market growth during the forecast period. With 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 the overall efficiency and reliability of the data centers. Moreover, data center manufacturers are renovating their data centers, as it costs less compared to building new data centers. Furthermore, it also minimizes 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 that 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 renovations 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 market growth.

The Global Data Center Power Market was valued at US$ 21298.9 Mn in 2021 and is expected to exhibit a CAGR of 7.8% during the forecast period (2022 – 2030).

Key Developments

1. In March 2020, Huawei, Telecommunication Equipment Company, launched 100kW High Power Density UPS Module of Power which serve customers in the data center industry. With this Huawei Company plans to expands its footprint in the Data Center Market.

Data Center Power Market - Impact of Coronavirus (Covid-19) Pandemic:

Due to the Covid-19 pandemic, many industries witnessed a positive shift in their business. There was a significant impact on the data center power market, as most countries have announced lockdowns and many industries were rapidly closing their business to contain the spread of the COVID-19 pandemic. Furthermore, the healthcare sector needed more secure and scalable cloud infrastructure in order to maintain proper patient information and COVID-19 research details. In addition to this, during the pandemic there was a 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.

This leading demand for data storage positively impacted the global data center power market and showed significant growth during COVID-19.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/data-center-power-market-4189

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Key Trends and Analysis of the Global Data Center Power market:

• Asia Pacific held dominant position in the global data center power market in 2021 and is expected to retain its dominance throughout the forecast period. This is owing to increasing adoption of new technologies and digitization. For instance, in February 2020, Huawei Technologies Co. Ltd. launched Digital Payment Cloud Solution. This solution provides real-time digital query experience to both users and merchants. This solution is based on artificial intelligence, and detects fake transactions and avoid cash out risks.
• North America is expected to show significant growth over the forecast period, owing to the presence of large software companies such as Amazon, Google, Facebook, Twitter, and others in this region. For instance, in April 2020, Amazon Web Services (AWS), the cloud computing platform of Amazon.com Inc., launched its data center operations in Cape Town, South Africa. This will help its client to increase efficiency and have content back up.
• Among data center size, large data center segment held a dominant position in the market in 2021 and is expected to retain its dominance during the forecast period. Large data center can range above 24,000 square feet area and consists of high density server rack. Data centers with high density cloud computing system require large data center. Thus, increased adoption of large data centers among large enterprises is expected to drive the market growth during the forecast period. For instance, Yotta Infrastructure, a subsidiary of Hiranandani Group and offers hyperscale data center solution in India, inaugurated India’s largest data center building to deliver long term reliable, green, and cost effective source of power.
• Major players operating in the global data center power market include Schneider Electric, Vertiv Group Corp., ABB, Eaton, Huawei Technologies Co., Ltd., Tripp Lite, Toshiba India Pvt. Ltd., Siemens, Mitsubishi Electric Corporation, Cisco System Inc., Kehua Hengsheng Co., Ltd., Socomec, Cyber Power Systems, Inc., Bxterra Power Technology, ZincFive, Inc., Server Technology, Inc., General Electric, Hewlett Packard Enterprise Development LP, Google, LLC, Amazon.com, Inc., Facebook, Inc., and IBM Corporation