New York, USA, Nov. 03, 2020 (GLOBE NEWSWIRE) -- Research Dive has added a new report to its repository on the global data center power market. As per the report, the market is projected to surpass $32,349.0 million by 2027, growing at a CAGR of 7.2% from 2020 to 2027. This research report offers complete insights on the present condition and future scope of the market. The report is a comprehensive research study, providing scrupulous market insights for new entrants, shareholders, prevailing market players, investors, stakeholders, etc.
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Factors Impacting the Market Growth
The major factors propelling the growth of the global data center power industry are increasing focus and demand for the development of IT infrastructure in nations including India, China, and Brazil and sudden rise in the awareness and demand for cloud computing services worldwide. Moreover, growing importance for the solar-powered data center might unlock enormous opportunities for the global data center power market growth. However, huge initial expenses while setting up data centers is likely to restrain the market growth.
Impact of COVID-19 Pandemic on the Market Growth
Since the outbreak of COVID-19 pandemic, the demand for software as a service (SaaS) as well as rapid adoption of work-from-home working model have drastically augmented the demand for data centers, which is fueling the market growth. For instance, in September 2020, INVITE Systems, a foremost player in the technology platform, has partnered with Huawei, to set up an extremely reliable data center for meeting the needs of the businesses amidst the pandemic crisis.
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The report segments the global data center power market into product, end user, and region.
UPS Sub-Segment to Grab Dominant Market Share in the Forecast Period
Among product segment, the UPS sub-segment is anticipated to seize a dominating share of the market in the projected period. The sub-segment is expected to garner $35,628.9 million by 2027; this is mostly because of the growing adoption of cloud computing for managing rapidly growing ubiquitous and sensitive data.
BFSI Sub-Segment to Witness Remarkable Growth in the Forecast Period
Among end user segment, the BFSI sub-segment is expected to grow tremendously and hold a leading position in the global market during the forecast period. The sub-segment is expected to garner $14,224.8 million by 2027; this is mostly because of the mounting focus on digitalization and rapid adoption of cloud networking and cloud computing services for enhancing banking capacities.
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Asia-Pacific Region to Dominate the Market
The report evaluates the global data center power market across several regions such as Asia Pacific, North America, Europe, and LAMEA. Among these, the Asia-Pacific region is anticipated to experience maximum growth and garner $16,863.4 million by 2027. This is mostly due to the rising acceptance for innovative technologies, such as AI and IoT, and growing government support for the development of data center projects in the region.
Top Players in the Market
1. Vertiv Group Corp.
2. ABB
3. General electric
4. Schneider Electric
5. Anord Mardix
6. ZincFive, Inc.
7. Siemens
8. Mitsubishi Electric Corporation
9. Cisco Systems, Inc.
10. Eaton.
The report offers numerous business approaches and strategies including pioneering tactical moves & developments undertaken by these players. For instance, in July 2020, Yotta Infrastructure, a foremost hyper-scale Data Center solutions provider, has signed a memorandum of understanding (MOU) with the Tamil Nadu, India government for establishing a data center park of around $450m-$600m in the southern India. Moreover, the report offers insights such as company overview 7 performance, product/service line, and SWOT analysis of the leading players operating in the global data center power industry.
The report mentions numerous factors of all the crucial market players that are active in the market. Some features such as financial performance, present strategic plans, product file, developments and SWOT scrutiny are also included in the report. Click Here to Get Absolute Top Companies Development Strategies Summary Report.