New York, USA, May 31, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global data center power market is anticipated to register a revenue of $56,626.5 million by 2027 at a CAGR of 7.2%, increasing from $32,349.0 million in 2019. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market from 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 Market
Drivers: The developing economies, such as India, Brazil, and China, are focusing on the development IT infrastructure which is contributing to the growth of the data center power market. According to a report by Indo- European Business Forum (IEBF), India's IT & infrastructure sector will reach up to $10 trillion by the end of 2030.
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The data center power manufacturers are developing advanced management solutions to augment the technical efficiency and minimize the power usage effectiveness (PUE) ratio. These solutions improve the energy consumption in the companies. These are the factors influencing these countries to implement the data center power in the IT companies which is going to fuel the market growth.
Restraints: The main factor hampering the growth of the market is the higher installation cost of data centers. Technical complexities of data center is another restraining factor of the market.
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Opportunity: The increasing application of the solar-powered data center is expected to create many opportunities for the data center power market during the forecast period.
Segments of the Market
The report has divided the market different segments based on product, end-use, and regional analysis.
By Product, the UPS Sub-Segment Expected to be the Most Lucrative
The UPS sub-segment is expected to register the highest revenue of $35,628.9 million by 2027 increasing from $20,666.4 million in 2019. The rising demand of cloud computing and safety of ubiquitous and sensitive data in the IT companies is enhancing the growth of the market segment.
By End-User, the IT & Telecommunications Sub-Segment Predicted to be the Most Profitable
The IT & telecommunications sub-segment garnered a revenue of $4,827.3 million in 2019 and is further continue the growth by reaching $9,115.7 million during the forecast period. The emerging IT & telecom service providers are opting for massive data center infrastructure to manage and safeguard huge databases.
By Region, Asia-Pacific Expected to be Predominant
Asia-Pacific regional market is expected to garner the highest revenue of $16,863.4 million at a CAGR of 8.0% by the end of 2027. The major attributor behind this market growth is growing adoption of advanced technologies, such as AI and IoT, by the IT companies in the region. Moreover, the government initiatives supporting the data center power projects are also fueling the growth of the market in upcoming years.
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Top 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.
In July 2020, Schneider Electric, the leader in digital transformation of energy management and automation, announced that it entered into a partnership with Anord Mardix (USA) Inc., a leader in power management system, to develop and impose critical power solutions to the data center market. Anord Mardix's famous DATABAR™ busway system, Static Transfer Switch (STS) system, and Power Distribution Units (PDUs), were available to Schneider Electric's North American data center customers after the partnership.
Covid-19 Impact Analysis
The coronavirus pandemic has impacted the global data center power market in a significant way. Because of the lockdown imposed across nations to curb the spread of the virus, work from home has become a new normal, which is increasing the demand for software as a service (SaaS). The emergence of a new business environment has enhanced the demand for digitization and cloud services. These are the factors which have created a significant impact on the global data center power market during the pandemic.
The report mentions numerous factors of all the crucial market players that are active in the market. Some features such as financial performance, present strategic plans, product file, developments and SWOT scrutiny are also included in the report. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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