The Data Center Power Management Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Data Center Power Management Global Market Report 2024, The data center power management market size has grown strongly in recent years. It will grow from $20.79 billion in 2023 to $22.65 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to growing data center capacity demands, increasing adoption of cloud computing, rising awareness of energy efficiency, expansion of the digital economy, government regulations promoting energy conservation.
The data center power management market size is expected to see strong growth in the next few years. It will grow to $30.4 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to continued growth of cloud services, rising demand for edge computing, increasing complexity in data center infrastructure, focus on renewable energy sources, escalating importance of data security. Major trends in the forecast period include adoption of modular data center designs, increased use of liquid cooling solutions, integration of ai and machine learning for power management, emphasis on sustainable and green data centers, development of energy-efficient hardware components.
Increasing data traffic is expected to boost the growth of the data center power management market going forward. Data traffic refers to the movement of digital data packets across a computer network or the internet. Power management is necessary for data centers to manage the data traffic and guarantee the dependability and accessibility of data center services while lowering energy usage and costs. For instance, in 2021, according to the World Bank, a US-based financial institution, the total global internet traffic increased by about 50% 2022 from 2020 levels, reaching 4.8 zettabytes, equal to 150,000 GB per second. Therefore, increasing data traffic is driving the growth of the data center power management market.
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The data center power management market covered in this report is segmented –
1) By Component: Hardware, DCIM (Data Center Infrastructure Management) Software, Services
2) By Data Center Type: Modular Data Centers, Colocation Data Centers, Cloud Data Centers, Edge Data Centers, Hyperscale Data Center, Micro Mobile Data Centers
3) By Installation Type: New Installation, Retrofit Or Upgrade
4) By Industry: Banking, Financial Services And Insurance(BFSI), Healthcare, Manufacturing, IT And Telecom, Media And Entertainment, Retail, Government, Other Industries
Product innovation is the key trend gaining popularity in the data center power management market. Major companies operating in the data center power management market are focusing on developing new products to sustain their position in the market. For instance, in June 2021, Eaton, a US-based power management company, launched the iCube 2.0 and the 9PX lithium-ion UPS power supply series. The unique feature of iCube 2.0 and 9PX Lithium-ion UPS is the ability to satisfy the demand for quick and sustainable computing capability while ensuring energy efficiency. The Eaton Intelligent Power Manager, included with the 9PX Li-ion UPS, enables advanced load-shedding capabilities to power crucial operational loads for extended periods and allows deep integration with VMware and HyperV virtual environments. This software enhances infrastructure resilience against unfavorable power and environmental events through disaster recovery automation.
The data center power management market report table of contents includes:
1. Executive Summary
2.Data Center Power Management Market Characteristics
3.Data Center Power Management Market Trends And Strategies
4.Data Center Power Management Market analysis
5.Data Center Power Management Market Size And Growth
6.Data Center Power Management Segmentation
7.Data Center Power Management Regional And Country Analysis
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27.Data Center Power Management Competitive Landscape And Company Profiles
28.Data Center Power Management Key Mergers And Acquisitions
29. Data Center Power Management Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Huawei Technologies Co. Ltd.
- Siemens AG
- General Electric Company
- Schneider Electric SE
- ABB Ltd.
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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.
