Global Data Center Power Market To Reach Worth $11.87 Million in 2032
Global data center power market is projected to grow at 18.5% annually from USD 7.50 Billion in 2022, to USD 4.7% Billon by 2032.
The increasing demand for cloud data storage has led to an increase in the number of data center locations worldwide. These data centers consume large amounts of energy. Market growth will be driven by modular data centers and advanced power-saving systems. The COVID-19 outbreak, which engulfed most of the world’s offline activities, had severe consequences for the data center power market. This was especially true for companies. The demand for software-as-a-service (SaaS) and the possibility of working remotely during the pandemic are factors that drive the need for data centers.
Driving Factors :
The rapid increase in data center locations around the globe
Data centers play an important role in modern economies, whether they are servers for small businesses or large organizations. Different end users now have different requirements for data centers in the face of an increasingly digital economy. This has led to a shift in the role of the data center industry, which is charged with keeping up with customers’ IT roadmaps. As cloud-based and big data analytics become more popular, so is the demand for data storage. This includes online content such as movies, apps, and videos as well as social media.
Digital Substation is gaining popularity
Digital sub-stations reduce maintenance costs, have a smaller foot-print, and can extend asset life. Fiber optic connections can be used to link these devices to the control panel, eliminating the need for a copper control line. Hitachi ABB Power Grids’ smart digital substation product was released in March 2021. The product combines digital substation technology’s latest innovations with Hitachi’s Lumada Asset Performance Management solution. Smart digital substations can help you navigate the shift to more reliable and less predictable sources of renewable power.
Restraining Factors:
You will need to make a large initial investment
Data centers have to overcome many challenges to make the transition to on-site power. Businesses often face the greatest hurdle in obtaining on-site energy. This is usually because of the large initial investment. The cost of moving electricity on-site can be prohibitive in the short term, which ultimately discourages many businesses from adopting data center substations.
Fuel prices are subject to fluctuation year-to-year, which makes long-term planning difficult. This uncertainty creates uncertainty among the company’s leadership about whether these systems should be adopted. There are many variables to consider when building data centers. Engineering, permits, permits, and permissions must all be taken into consideration.
Market Trends:
Globally, data center energy consumption is around 3%. Numerous data center developers are using advanced power distribution strategies and management methods to increase energy efficiency with lower power usage effectiveness. This aim to lower the PUE is expected to increase the demand for advanced and intelligent data center power products in the forecast period.
Uninterruptible power supply (UPS), is the backbone of data centers. It is essential for the smooth running of servers and other network devices. UPS’s cost is much higher than any other data center power product. In order to reduce the PUE ratio in data centers, many use smart UPS systems and battery monitoring devices. This will increase the demand for UPS over the forecast period due to increased penetration of new devices.
Many North American mega data centers use renewable energy sources to power data center operations. It is anticipated that Tier 1 facilities and Tier 2 facilities will see the introduction of basic PDUs. The adoption of intelligent infrastructure with power monitoring capabilities is expected to grow due to growing concerns about electricity consumption, especially in the U.S. The growth of the data center power market is likely to be hindered by increasing complexity in data center design, high initial costs, interoperability, and other issues.
Recent Developments:
- December 2021 – Tripp Lite is offering new reduced errors in data center spine-leaf architecture. In spine-leaf architecture, every leaf-layer switch connects a server or other device to every spine-layer switch in the backbone of the network. Tripp Lite’s spine-leaf MPO fiber patch panels replace MTP/MPO-to-LC manual cross-connections with MTP/ MPO ports. Leaf ports in the rear of the panels mate with leaf switches and spine ports in the front mate with spine switches. The panels occupy 1U of space in standard 19-inch server racks.
- September 2021 – Eaton Corporation Plc announced that it is working with Microsoft Corporation to identify ways for data centers to monetize existing assets and integrate more renewable energy sources for creating a more sustainable and stable grid.
- August 2021 – ABB Limited announced that Keppel Data Centers and Salim Group have entered into the partnership. This partnership aims to the seven-hectare IndoKeppel Data Center 1 campus in Indonesia with an uninterruptible power supply that will support the data center’s operations. Moreover, the company, along with its partner PT Vektordaya Mekatrik, will deliver the PowerWave 33 energy-efficient UPS to the data center (IKDC1).
Market Key Players:
The data center power market comprises major solution providers, such as Schneider Electric (France), Vertiv (US), ABB (Switzerland), Eaton (Ireland), Delta Electronics (Taiwan), Huawei in China, Legrand in France, Tripp Lite in the USA, Toshiba in Japan and Japan, Tripp Lite in the USA, Raman Power Technologies (UK), N1 Critical Technologies US, Critical Power the US), ZincFive US, ZRGP China, and Hardy Racks India are just a few of the startups.
Market Segmentation:
IMARC Group provides analysis and forecasts for each sub-segment within the global data center power market. Our market report categorizes the market according to solution type, type of service, size, vertical, and more.
Frequently Asked Questions:
What size is the market for data center power?
Global data center power is projected to grow at 18.5% annually from USD 7.50 Billion in 2022, to USD 4.7% Billon by 2032.
Which region holds the largest market share in the market for data center power?
North America and Europe have the largest market share in the data center power market. Together, these two regions contribute more than half of the global data center market for 2020.
What are the main vendors in the data center power market?
Despite the presence of many vendors on the market, the market is dominated mainly vendors like Schneider Electric (France), Vertiv/US), ABB/Switzerland, Eaton/Ireland, Delta Electronics (Taiwan), Huawei(China), Legrand/France), Tripp Lite/US and Toshiba (Japan).
What are the latest trends that will influence the future of the data center market?
There are a few trends that will shape the market in the coming years, including online double conversion, offline standby, and intelligent power distributor units.
Related Reports:
Global Data Center Cooling Systems Market By Type (Air-Cooled Precision Air Conditioning, and Centrifugal Water Cooled Air Conditioning System), By Application (Large Data Center, and Other), By Region, and Key Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2020-2029
Global Internet Data Center Market By Type (Type I, and Type II ), By Application (Retail Industry, Insurance Industry, Media Industry, and Other ), By Region, and Key Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2020-202
Global Data Center Server Market By Type (Tower Server, Rack Server, and Blade Server), By Application (Industrial Servers, and Commercial Servers), By Region, and Key Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2020-2029
Read More Posts Here:-
Docking Station Market to Reach USD 13 billion by 2031