New York, USA, Nov. 15, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global data center power market is expected to generate a revenue of 56,626.5 million by 2027, growing expeditiously at a CAGR of 7.2% during the forecast period 2020-2027. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Data Canter Power Market
Drivers: Significant enhancements in the IT infrastructure across the globe is expected to drive the growth of the market during the forecast period. In addition, development of advanced management solutions so as to increase efficiency is expected to bolster the growth of the data center power market during the forecast period.
Restraints: Extortionate installation cost of data centers is expected to hinder the growth of the market during the forecast period.
Opportunities: Rising importance of solar-powered data centers is expected to create immense opportunities for the growth of the market during the forecast period.
COVID-19 Impact on the Data Canter Power Market
The outbreak of COVID-19 has had a positive impact on the growth of the global data center power market, owing to the prevalence of lockdowns in various countries across the globe. Lockdowns led to the closure of offices in order to curb the spread of the virus, and hence the work from home culture was increasingly adopted during the pandemic. This significantly increased the demand for data centers. The pandemic has also remarkably surged the demand for cloud services and digitization.
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Segments of the Data Canter Power Market
The report has divided the data center power market into various segments based on product, end-user and region.
Product: UPS sub-segment to be Most Profitable
The UPS sub-segment is expected to generate a revenue of $35,628.9 million during the forecast period. Extensive implementation of cloud computing across the globe is expected to drive the growth of the data center power market sub-segment during the forecast period.
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End-User: IT & Telecommunications Sub-segment to be Most Lucrative
The IT & telecommunications sub-segment is expected to generate a revenue of $9,115.7 million during the forecast period. Deployment of massive data center infrastructure by IT and telecom service providers so as to effectively superintend the surging amount of data is expected to stimulate the growth of the sub-segment during the forecast period.
Region: Europe Region Expected to Dominate the Market
The European region is expected to generate a revenue of $17,435.3 million during the forecast period. Tremendous growth and advancements in cloud computing and data analytics in this region is expected to drive the growth of the market. In addition, increasing investments made by data center service providers for the development of various products in this region is expected to bolster the growth of the regional data center power market during the forecast period.
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Key Players of the Data Canter Power 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.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in June 2021, Blackstone Infrastructure, a dynamic investor across energy, transportation, communications and water and waste infrastructure sectors, acquired QTS Realty Trust, a provider of carrier-neutral data centers and colocation services, in order to scale the business to meet the rising demand for data centers.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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