New York, USA, Aug. 04, 2021 (GLOBE NEWSWIRE) -- A new report on the global data center power market has been added by Research Dive to its offerings. As per the report, the global market is anticipated to garner $56,626.5 million by 2027, growing at a CAGR of 7.2% from 2020 to 2027. This report in an in-depth study offering meticulous insights into the present situation and future scope of the global industry. The report is drafted by expert market analysts and assures to be a reliable source of data and comprehensive market insights for new market players, shareholders, investors, prevalent players, stakeholders, etc.
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Impact of COVID-19 Pandemic on the Market Growth:
The outbreak of the COVID-19 pandemic has had an optimistic impact on the growth of the data center power market in 2020. Numerous companies have adopted work-from-home working model, which is fueling the need for software as a service (SaaS), thus boosting the demand for data centers during the pandemic period. Major players in the data center power industry are offering a helping hand to affected businesses due to pandemic crisis by launching novel data centers. All these factors are significantly contributing to the market growth.
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Factors Impacting the Market Growth:
Increasing advancements in IT infrastructure mainly in the emerging nations, such as India, China, and Brazil, is propelling the global data center power market growth. Also, growing awareness about solar-powered data centers and surging adoption of data centers by many companies to uphold business permanency are projected to bring in profitable opportunities for the market growth in the forecast period. However, high costs involved in the installation of data centers is expected to obstruct the market growth during the forecast period.
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The report segments the global data center power market into product, end user, and region.
UPS Sub-Segment to Grab Leading Share of the Market
The UPS sub-segment of the product segment is anticipated to lead the market by gathering a revenue of $35,628.9 million in the estimated period. This is mainly because of the rising adoption of cloud computing and surging demand for sensitive and ubiquitous data.
IT & telecommunications Sub-Segment to Observe Speedy Growth
The IT & telecommunications sub-segment of the end user segment is projected to witness accelerated growth by surpassing a revenue of $9,115.7 million by the end of 2027, rising at a CAGR of 8.2% in the estimated period. This is mainly because various IT & telecom service providers are setting up massive data center infrastructure for managing the widely growing amount of data.
Asia-Pacific Region to Lead the Global Market
The report analyzes the global data center power market across several regions such as North America, Europe, Asia Pacific, and LAMEA. The Asia-Pacific region market is projected to dominate the global market by surpassing $16,863.4 million by 2027, rising with a CAGR of 8.0% in the projected period. This is mainly because of the significant upsurge in the governments’ support for data center power projects in the last few years in this region.
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Major 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.
For instance, in March 2021, Huawei, a foremost global supplier of information and communications technology (ICT) infrastructure and smart devices, launched novel data center and power supply solutions for different industrial requirements.
The report also provides some of the latest winning tactics such as strategic moves & developments, business performance, product/service range, Porter five forces analysis, and SWOT analysis of the leading players, functioning in the global industry. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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