New York, USA, Jan. 12, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global data center power market is anticipated to generate a revenue of $56,626.5 million and rise at a CAGR of 7.2% over the estimated timeframe from 2020-2027.
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Covid-19 Impact on the Data Center Power Market
With the rise of the novel coronavirus, the data center power market has experienced a sustainable impact. Due to the spontaneous spread of the deadly virus, many organizations have rapidly shifted to work from home culture during the period of crisis. Furthermore, the emergence of a new business environment has increased the demand for digitization and cloud services. All these factors have resulted in the rapid growth of the market during the pandemic period.
Check out How COVID-19 impacts the Global Data Center Power Market: https://www.researchdive.com/connect-to-analyst/415
As per our analysts, with the increasing emphasis on the development of IT infrastructure across developing economies, the market is expected to witness remarkable growth during the analysis period. Besides, the rising development of advanced management solutions to reduce the power usage effectiveness ratio and to increase the efficiency of the data center power field is expected to bolster the growth of the data center power market throughout the analysis time period. Moreover, the increasing importance of solar-powered data centers owing to their cost-effectiveness and reduction in carbon emission is expected to amplify the growth of the market during the analysis timeframe. However, the high initial investment of data centers may hamper the growth of the market over the estimated period.
Segments of the Data Center Power Market
The report has divided the data center power market into segments based on product, end-use, and region.
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Product: UPS Sub-Segment to be Most Lucrative
The UPS sub-segment is predicted to generate a revenue of $35,628.9 million over the forecast period. This is mainly because of the growing implementation of cloud computing and the increasing demand for sensitive data all across the globe. Furthermore, as UPS power module provides an uninterrupted power flow, allows to access the Software as a Service (SaaS), and helps in resulting high performance, which are the factors expected to uplift the growth of the data center power market sub-segment during the analysis period.
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End-Use: IT & Telecommunications Sub-Segment to be Most Productive
The IT & Telecommunications sub-segment is predicted to garner a revenue of $9,115.7 million over the estimated timeframe. This is mainly due to the rising IT & telecom service providers to manage enormously increasing amounts of data. In addition, the increasing supportive policy implementation by governments of developing economies is further expected to propel the growth of the market sub-segment over the estimated timeframe.
Region: Europe Region to Have Expansive Growth Opportunities
The Europe region of the data center power market is expected to generate a revenue of $17,435.3 million by 2027 and is predicted to see steady growth during the analysis timeframe. This is mainly because of the considerable expansion of mobile broadband and the increasing use of cloud computing and big data analytics in this region. Moreover, the increasing investments in developing novel products by data center service providers are predicted to drive the regional growth of the market during the forecast period.
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 the development of new business strategies and tactics to obtain the leading position in the global industry.
For instance, in August 2021, Intel, a leading American multinational technology company, announced its collaboration with Submer, a leading provider of high-level cooling and automation for data and energy-intense environments. With this collaboration, the companies are aiming to develop the precision immersion cooling fluid cloud which will be used in the next-generation data centers.
Further, the report also summarizes other crucial aspects including SWOT analysis, latest strategic developments, product portfolio, and the financial performance of the key players. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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