The global data center power market size is expected to reach USD 15.01 billion by 2030, according to a new study by Grand View Research, Inc., exhibiting a CAGR of 8.0% during the forecast period. The shift in focus of end-users towards colocation and hyper-scale data centers is the key driving the industry growth. In addition, increasing establishments of such facilities of data centers are expected to result in a rise in demand for data center power equipment during the forecast period. The industry has been significantly impacted by the COVID-19 pandemic. A rapid growth in the datasets used & generated by several companies and individuals has resulted in a rise in data storage demand.
Data Center Power Market Report Highlights
· The UPS segment led the industry in 2022 due to the adoption of co-location and the rising demand for energy in data centers
· The PDU segment is expected to expand at a significant CAGR from 2023 to 2030 due to the rising need for intelligent PDUs
· The IT & telecom industry emerged as the fastest-growing end-use segment in 2022. Over the forecast period, the demand is likely to be driven by a significant increase in the expansion and building of IT infrastructure
· North America accounted for the maximum revenue share in 2022 and is anticipated to continue its dominance over the forecast period
· This is due to the increasing number of data centers in the U.S. In addition, the region has emerged as the hub for operators and cloud service providers owing to affordable utility rates and tax incentives
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Data center power is a critical aspect of modern information technology infrastructure. These specialized facilities serve as the nerve centers of the digital world, housing vast arrays of servers, storage systems, and networking equipment that process and store data for businesses, organizations, and individuals. The power requirements of data centers are immense, and they demand stable and reliable sources of electricity to ensure uninterrupted operations. To meet these demands, data centers often rely on robust power infrastructures, including multiple utility feeds, backup generators, and uninterruptible power supply (UPS) systems. Furthermore, data center operators are increasingly exploring sustainable energy solutions, such as solar, wind, and hydroelectric power, to reduce their environmental impact and operational costs. As data continues to grow exponentially, efficient power management and conservation practices will remain crucial in sustaining the ever-expanding digital landscape.
Data Center Power Market Latest Developments
Data centers are increasingly focusing on adopting renewable energy sources such as solar, wind, and hydroelectric power. This trend is driven by the industry's commitment to reducing carbon emissions and achieving sustainability goals. Expect further advancements in renewable energy integration technologies to make them more efficient and cost-effective for data center operators. The need for energy storage solutions, like advanced battery technologies, is growing in the data center industry. These storage systems help manage power demand fluctuations, provide backup power during grid outages, and enhance the overall power efficiency of data centers. As data centers consume massive amounts of electricity, optimizing energy efficiency and power management is a priority. Innovative cooling techniques, power distribution strategies, and software-based power monitoring tools will continue to evolve to reduce wastage and enhance energy conservation.
Edge computing is gaining momentum, and with it comes the need for smaller, decentralized data centers closer to end-users. These edge data centers demand power solutions that are compact, scalable, and easily deployable to cater to diverse geographic locations. Data center operators are exploring hybrid power solutions that combine traditional power sources with renewables and even on-site power generation. These setups offer increased resilience, cost savings, and flexibility in managing power supply.
Advanced power management software tools are being developed to optimize data center energy usage, monitor power consumption in real-time, and predict demand patterns to make data centers more agile and responsive to energy needs. Data centers are looking to collaborate with utility companies and adopt smart grid technologies to enhance grid reliability, enable demand response, and facilitate load balancing, further streamlining their power utilization.
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Globally, data centers consume around 1 to 1.25% of the total energy generated. Thus, many data center designers are adopting management solutions and advanced distribution of power to attain energy efficiency at lower Power Usage Effectiveness (PUE) ratios. This goal to reduce the PUE ratio is expected to further fuel the demand for intelligent and advanced products during the forecast period. An Uninterrupted Power Supply (UPS) is the backbone of data centers and is deployed for the smooth working of servers and other networking devices. Moreover, the cost of UPS is significantly higher than any other data center power product. Furthermore, most data centers use smart UPS systems, battery monitoring devices, and intelligent Power Distribution Systems (PDU) to reduce the PUE ratio.
Thus, increasing penetration of these new devices is expected to boost the demand for UPS during the forecast period. Many mega data centers in North America engage in procuring renewable energy sources for data center operations. Tier 1 and 2 facilities are anticipated to witness the espousal of basic PDUs. However, the adoption of intelligent infrastructure with power monitoring ability is expected to witness growth owing to rising concerns about power consumption, particularly in the U.S. However, the rise in complexity of data center design, high initial investment costs, and interoperability issues are expected to hinder the growth of the industry.
Segmented the global data center power market on the basis of product, end-use, and region
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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The Data Center Power Market appreciated by US$ 6046.0 million in the year 2016.
The growing necessity of cloud storage has caused in a huge capacity of data centers everywhere the world.
This sequentially, ingest a vast quantity of energy.
It expected that approximately 3% of generated electricity be use up by such type of amenities, per year.
Internationally, the greater demand has observed for data centers in Banking and Financial Services Institutions [BFSI].
This has given a rise to an enormous demand, thus motivating the progress of the market above the period of prediction.
