Data Center Power Management Market Poised for Significant Growth: Projected to Reach $39.9 Billion by 2033

Data Center Power Management Market

The global data center power management market is anticipated to expand its roots at a CAGR of 7% with a valuation of US$ 20,260.5 million in 2023. The market is slated to reach a estimation of US$ 39,978.8 million by 2033.

It can cost hundreds of thousands or even millions of dollars when a data center is down. The Uptime Institute estimates that nearly 43% of data center failures are caused due to inadequate power supplies. There is an increasing need for more inventive and efficient techniques to monitor power quality throughout the entire power chain of a data center.  The rising power needs, rising power costs, and international measures to reduce carbon footprints are pivotal for data center power management market expansion. A new generation of dependable, intelligent rack power distribution, monitoring, and control solutions is thus more important than ever.

Data center operators use automation and DCIM software to assist clients with restricted access to their facilities and lessen the foot traffic of their staff. A lot of data center owners now control their facilities remotely as well. This led to a strong need for software to manage the infrastructure of data centers. Furthermore, power management companies developed advanced power distribution units that can operate remotely to improve efficiency and reduce the power usage effectiveness (PUE) ratio.

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Gulf nations are digitally modernizing their public and private sectors. The governments of these nations are undertaking several projects to improve the Middle Eastern cloud environment.  Additionally, significant investments are being made in renewable energy sources that generate electricity to power data centers. In Europe and the United States, there has been a rapid increase in the use of sustainable energy sources to power data centers.  In the upcoming years, these initiatives are likely to support market expansion.

Key Takeaways from Data Center Power Management Market:

  • In 2018, the global data center power management market size stood at US$ 15,844.6 million.
  • Between 2018 and 2022, the market expanded at a CAGR of 4.9%.
  • In 2022, the market size stood at US$ 19,222.5 million.
  • The modular data centers segment accounted for 24.9% market share in 2022.
  • The tier-4 segment captured a 24.9% market share in 2022.
  • China accounted for nearly 5.2% of the global market share in 2022.
  • The United Kingdom data center power management market garnered a 9.2% market share in 2022.

Recent Developments Observed by FMI:

  • A multi-hybrid cloud and edge management platform was introduced by Cognizant in April 2023. “Skygrade” has been introduced to help businesses achieve greater business values through sustainability, rapidity, efficiency, and ease of use.
  • In September 2022, Honeywell launched a new suite of solutions. Honeywell Data Center Suite was designed to help optimize data center productivity and uptime.
  • Eaton completed the acquisition of Tripp Lite in March 2021 to grow its power business in the United States. The acquisition contributed to the growth of edge computing, the expansion of the single-phase UPS market, the IT product portfolio, and better services for the company’s data center clients.

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, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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