It is expected that from 2023 to 2033, the size of the global market for data center power management would experience an extraordinary increase. The global market is anticipated to surpass a valuation of US$ 20,260.5 million in 2023, according to a research analysis released by Future Market Insights. By 2033, its value is anticipated to reach US$ 39,978.8 million. From 2023 to 2033, the market is anticipated to register a remarkable CAGR of 7%.
Data centers play a major role in modern civilization. The demand for data centers is rising globally due to the digitalization of the global economy and a significant shift toward cloud-based data storage.
There is an enormous amount of energy needed to run this network of data centers. As a result, the adoption of sustainable energy sources and an integrated approach to data center power management is influencing the global market for this technology.
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Key Takeaways
Through 2032, the DCIM (data center infrastructure management) software market is projected to expand at a strong CAGR of around 8%.
Between 2022 and 2032, the UPS (uninterruptible power supply) systems market is projected to expand at a CAGR of 8.3%.
The hyper-scale data centers market, by data center type, will increase at a CAGR of 9.0 percent by 2032.
Industry-wise, the BFSI segment will increase at the highest rate—a CAGR of 9.7%—between 2022 and 2032.
The data center power management market is dominated by North America, but with a 9 percent CAGR, South Asia & Pacific will experience the fastest growth.
Tier-4 data centers will experience the highest growth, with a CAGR of 8.2 percent between 2022 and 2032.
“Demand for technologically advanced items is rising as a result of economic expansion in China, India, and other emerging economies. To grow their operations throughout Asia Pacific, data center power management component manufacturers, distributors, and suppliers are likely to focus on these markets, according to an analyst at FMI.
By modernizing existing data centers, hardware component demand will increase.
The market for data center power management is expanding as a result of data centers being upgraded to increase their performance. Infrastructure, energy backup facilities like UPSs, and modifications to power distribution units are examples of such improvements.
Data centers are in greater demand as green infrastructures are being used more frequently. A clever automated system that monitors and manages support systems like cooling equipment, power backup, and distribution makes excellent use of electricity and hence decreases the consumption of electricity.
Competitive Landscape
Both large- and medium-sized data center power management players are present in the industry, which defines it. Leading companies are using a variety of techniques, including mergers and acquisitions, partnerships, and collaborations, to increase their client base. Government activities worldwide as well as the development of private data centres are opening up significant growth opportunities for new industry players.
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For instance,
Eaton finished acquiring Tripp Lite in March 2021 to grow its power business in the Americas. The acquisition contributed to the expansion of single-phase UPS business, the IT product line, and better services for its data center clients. It also broadened the scope of edge computing.
ABB Ltd. announced the introduction of a cutting-edge UPS system in March 2020. The MegaFlex system has a 45 percent smaller environmental footprint, is resilient, and is compact in size. With high-efficiency converters, it provides decreased energy loss and sustainable power technology.
Key Companies Profiled
ABB, Eaton, Schneider Electric SE, DataSpan, Huawei Technologies Co., Ltd., Toshiba Electronic Devices & Storage Corporation, Bxterra Power Technology, Cyber Power Systems, Inc., General Electric, ZPE Systems, Inc., Aggreko, Sunbird Software, Inc., Elco Solutions, Socomec, Hewlett Packard Enterprise, Enlogic, Delta Electronics, Inc., Raritan Inc., Toshiba Electronic Devices & Storage Corporation
Data Center Power Management Market Segmentation
By Component:
- Hardware
- DCIM (Data Center Infrastructure Management) Software
- Services
By Data Center Type:
- Modular Data Centers
- Colocation Data Centers
- Cloud Data Centers
- Edge Data Centers
- Hyperscale Data Centers
- Micro Mobile Data Centers
By Data Center Tier:
- Tier-1 Data Centers
- Tier-2 Data Centers
- Tier-3 Data Centers
- Tier-4 Data Centers
By Installation Type:
- New Installation
- Retrofit/Upgrade
By End-user:
- Cloud Providers
- Colocation Providers
- Enterprise Data Centers
- Hyperscale Data Centers
By Industry:
- BFSI
- Healthcare
- Manufacturing
- IT & Telecom
- Media & Entertainment
- Retail
- Government
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10-years.
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