New York, USA, Sept. 13, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global data center power market is envisioned to generate a revenue of $56,626.5 million and grow at a CAGR of 7.2% throughout the forecast period from 2020 to 2027.
As per our analysts, with the growing emphasis on the development of IT infrastructure across developing countries, the data center power market is predicted to experience progressive growth during the analysis timeframe. Besides, the increasing development of advanced management solutions by leading manufacturers to increase efficiency and improve energy consumption is expected to fortify the growth of the market over the estimated period. Moreover, the increasing prominence of the solar-powered data center is expected to create expansive growth opportunities for the market throughout the forecast timeframe. However, the high initial investment cost of data centers may hinder the growth of the market over the analysis period.
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Segments of the Data Center Power Market
The report has divided the data power center market into 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 $20,666.4 million throughout the forecast timeframe. This is mainly due to the increasing implementation of cloud computing together with the rising demand for ubiquitous and sensitive data. Moreover, the increasing demand for accessibility to Software as a Service (SaaS), consistent power flow, and improved performance is predicted to propel the growth of the market sub-segment over the analysis period.
End-User: IT & Telecommunications Sub-Segment to be Most Productive
The IT & telecommunications sub-segment is predicted to generate a revenue of $9,115.7 million during the forecast period. This is mainly due to the rising development of huge data center infrastructure by emerging IT & telecom service providers to manage the extensively increasing amount of data. In addition, the increasing implementation of the government’s supportive policy along with the strong existence of leading market players is expected to fuel the growth of the market sub-segment over the analysis timeframe.
Region: Europe Region to Hold the Maximum Share of the Market
The Europe region of the data center power market is projected to garner a revenue of $17,435.3 million throughout the estimated period. This is mainly due to the substantial expansion of mobile broadband, big data analytics, and cloud computing in this region. Furthermore, the extensively increased spending by data center service providers of this region to develop novel products is expected to thrive the regional growth of the market during the forecast period.
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Covid-19 Impact on the Data Center Power Market
The outbreak of the Covid-19 pandemic has had a positive impact on the data center power market. This is mainly due to the growing demand for software as a service (SaaS) and the rapid shift to work from culture during the pandemic. Moreover, the emergence of a new business environment amid the COVID-19 outbreak has spurred the demand for digitization and cloud services, which has inclined the growth of the market during the period of crisis.
Key Players of the Data Center Power Market
The major players of the data center power market include
- ABB
- Vertiv Group Corp.
- Schneider Electric
- General Electric
- ZincFive, Inc.
- Cisco Systems, Inc.
- Anord Mardix
- Mitsubishi Electric Corporation
- Siemens
- Eaton, and many more.
These players are broadly working on the development of new business strategies such as partnerships and collaborations, mergers and acquisitions, and product development to procure a leading position in the global industry. – Inquire here before purchasing a full report
For instance, in May 2022, Centrin Data, a leading ITO company announced its strategic collaboration with Huawei Digital Power, a leading global provider of digital power products and solutions. With this collaboration, the companies aimed to focus on data center business, smart photovoltaics, comprehensive smart energy management, data center infrastructure, green energy storage, and many more.
Further, the report also presents other vital aspects including SWOT analysis, the financial performance of the key players, product development, and the latest strategic development.
More about Data Center Power Market:
- Global Data Center Power Market to Grow Exponentially by 2027 Owing to Introduction of New Innovative Solutions
- Data Center Power: Why is it so Important?
