New York, USA, May 25, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Die, the global data center power market is anticipated to generate a revenue of $56,626.5 million and grow at a CAGR of 7.2% throughout the estimated timeframe from 2020 to 2027.
As per our analysts, with the growing importance of the development of IT infrastructure in developing countries, the data center power market is predicted to experience prominent growth during the analysis period. Besides, the manufacturers are constantly working in the data center power field to develop advanced management solutions to reduce the energy consumption is further expected to fortify the growth of the market over the forecast period. Moreover, the rising prominence of the solar-powered data center is expected to create extensive growth opportunities during the estimated period. However, the high initial investment may hinder the growth of the market throughout the analysis period.
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Segments of the Data Center Power Market
The report has divided the market into different segments based on product, end-user, and region.
Product: UPS Sub-Segment to be Most Lucrative
The UPS sub-segment is projected to generate a revenue of $35,628.9 million during the forecast timeframe. This is mainly because of the increasing implementation of cloud computing and the rising demand for storing sensitive data across many organizations. In addition, the increasing demand for UPS power modules for consistent, clean, and uninterrupted power flow is predicted to propel the growth of the market over the analysis period.
End-User: IT & Telecommunications Sub-Segment to be Most Productive
The IT & telecommunications sub-segment is predicted to garner a revenue of $9,115.7 million and is expected to grow at a CAGR of 8.2% during the forecast timeframe. This is majorly because the emerging IT and telecom service providers are installing big data center infrastructure to handle the rising amount of data. Moreover, the increasing implementation of supportive government policies regarding data centers is expected to propel the growth of the market sub-segment over the estimated period.
Region: Europe to Have Wide Growth Opportunities
The Europe region of the data center power market is predicted to generate a revenue of $10,510.2 million over the analysis timeframe. This is mainly due to the considerable expansion of mobile broadband, and rapid growth in big data analytics and cloud computing in this region. Furthermore, the increased spending by data center providers to develop novel products is expected to drive the regional growth of the market during the forecast period.
Covid-19 Impact on the Data Center Power Market
Tough the outbreak of the Covid-19 pandemic has devastated several other industries, it has had a positive impact on the data center power market. This is mainly because of the increasing shift to work from home culture and rising demand for software as a service (SaaS) during the pandemic period. In addition, the leading players of the market have come up with innovative strategies to support several businesses worldwide which has uplifted the growth of the market during the period of crisis.
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Key Players of the Data Center Power Market
The major players of the data center power market include
- ZincFive, Inc.
- Schneider Electric
- Mitsubishi Electric Corporation
- Anord Mardix
- Siemens
- Cisco Systems, Inc.
- General Electric
- Vertiv Group Corp.
- Eaton.
- ABB, and many more.
These players are working on the development of new business strategies such as partnerships and collaborations, mergers and acquisitions, and product development to acquire leading positions in the global industries. – Inquire to Get access for key businesses Strategic Development Report@ https://www.researchdive.com/purchase-enquiry/415
For instance, in January 2022, Vertiv Group Corp., a leading provider of critical digital infrastructure and continuity solutions, announced its collaboration with RISE, a Sweden-based research institute, and innovation partner. With this collaboration, the companies aimed to support the Infrastructure and Cloud Research & Test Environment (ICE) to strengthen the competitiveness across industries.
Further, the report also summarizes other vital aspects including product portfolio, the financial performance of the key players, SWOT analysis, and the latest strategic development.
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