Data Center Power Market to Experience Substantial Growth, Accruing USD 28.33 Billion by 2030, Driven by Increasing Demand for Robust and Scalable Power Systems, Projects Kings Research
DUBAI, UAE, Nov. 27, 2023 /PRNewswire/ -- According to the latest report published by Kings Research, the global Data Center Power Market was worth USD 12.24 billion in 2022 and is projected to garner USD 28.33 billion in revenue by 2030, growing at 11.06% CAGR from 2023 to 2030. The market growth is driven by the proliferation of digital infrastructure driven by the rising adoption of cloud services, ongoing technology integration in organizations, increasing demand for robust and scalable power systems, and the growing usage of data centers for compute-intensive workloads like AI, ML, big data analytics, and HPC, which necessitate substantial computing power and electricity consumption.
The growing utilization of data centers, backed by their efficiency, scalability, and flexibility advantages, serves as a significant driving force in expanding market share. Factors such as the widespread use of cloud services, the development of IT infrastructure, the construction of hyperscale facilities, the adoption of modular power infrastructure, increased power density, rising power consumption, and expanding demand from emerging economies, coupled with technological advancements and automation, create numerous growth opportunities. Additionally, the increasing focus on energy efficiency and sustainability fuels the adoption of energy-efficient solutions within data centers.
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Data centers are designed for scalability, efficiently managing the increasing demands for data storage and processing. Ongoing innovations in energy-efficient hardware advanced cooling technologies, virtualization, and power management systems are being employed to optimize energy consumption in these facilities. To reduce power usage and minimize environmental impact, data centers are increasingly adopting energy-efficient procedures. The rising prevalence of data centers signifies the importance of maximizing energy utilization through the implementation of power management strategies, efficient cooling systems, and energy-conscious servers.
Trending Now: Huawei GreenBay, Solarvest, and CENTEXS Unveil Hyperscale Green Data Center Initiative in Borneo
In September 2023, Solarvest Borneo Sdn Bhd, a subsidiary of Solarvest Holdings Berhad, partnered with CENTEXS, Huawei Malaysia, and GreenBay CES Sdn Bhd to boost the hyperscale green data center industry in Borneo. The collaboration formalized a memorandum of understanding at MINTRED CONNECTS 2023 BEIJING. This strategic alliance focuses on sustainable technology, introducing a hyperscale green data center test-bed for cutting-edge solutions and a training initiative to advance industry expertise. The initiative aims to foster innovation, sustainability, and skill development in Borneo's evolving data center landscape
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Competitive Landscape
Leading players in the data center power industry are implementing effective business tactics, including mergers & acquisitions, partnerships, product developments, and joint ventures, to enhance their market shares across various geographies and diversify their product offerings.
For instance, in June 2023, NTT Ltd. allocated $300 million to enhance its data center campus in Chennai, ensuring seamless connectivity with India. Occupying a sprawling 6-hectare area, this campus features two data center buildings with a combined capacity of 34.8 MW for critical IT load.
Key players in the global data center power market include:
- Cisco Systems, Inc.
- Delta Electronics, Inc.
- Eaton
- Fujitsu Ltd
- General Electric
- Huawei Technologies Co., Ltd.
- Microsoft
- Mitsubishi Electric Corporation
- Schneider Electric
- NTT Limited
- ABB
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Increased Utilization of Power Distribution Units to Accelerate Data Center Power Market Progress
Based on product, the market is segmented into uninterruptible power supply (UPS), power distribution units (PDU), and battery monitoring equipment. The power distribution units (PDUs) segment has witnessed prominent growth in the data center power market and is slated to observe steady expansion over the review timeline. This growth is driven by the increasing utilization of PDUs across various applications, including software as a service (SaaS), high-performance computing, online gaming, and online media streaming.
Rising Demand for Data Warehouses to Support Data Center Power Market Expansion
Based on end-users, the market is classified into IT & telecommunications, healthcare, retail, banking, financial services & insurance (BFSI), and others. The IT and telecommunications segment is experiencing rapid growth due to the rising demand for data warehouses to manage vast volumes of information. Furthermore, this segment is expanding swiftly as a result of the increasing number of IT and telecommunication component providers establishing extensive data center infrastructure to cope with the escalating data volumes.
Escalating Need for Sustainable and Adaptable Power Infrastructure to Boost Data Center Power Market Development
The mounting demand for sustainable and adaptable power infrastructure is a key driving factor for market growth. Additionally, the widespread adoption of cloud computing and the construction of data centers are accelerating this growth. The burgeoning data growth and the imperative to enhance data center performance are fueling the need for scalable and sustainable solutions. Data centers are adopting various strategies, including energy-efficient servers, cooling systems, and power management techniques, to reduce power consumption while maintaining performance. With the exponential growth in demand for digital services, data centers must rapidly expand their operations, making scalable power infrastructure essential for accommodating growth without compromising performance.
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Robust Regulatory Framework in North America to Propel Data Center Power Market Growth
North America leads the global data center power market due to its robust regulatory framework aimed at reducing carbon emissions and energy consumption. This has spurred the adoption of efficient power management solutions, digital technologies, and scalable infrastructure for handling and storing vast data volumes. The proliferation of advanced tech like AI and IoT has resulted in increased investments in critical infrastructure sectors, including transportation, supply chains, digital ecosystems, and sustainability, driving market growth.
Data center providers in North America are actively exploring integration with the smart grid through advanced metering, demand-responsive software, and intelligent control systems. These initiatives empower data centers to manage energy consumption effectively and enhance network stability. The region's focus on energy efficiency and emissions reduction, driven by regulations and policies, aligns with sustainable development goals, boosts operational efficiency, and ensures reliable power supply for data centers.
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Major Points from TOC:
Chapter 1 Introduction of the Global Data Center Power Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
Chapter 2 Executive Summary
Chapter 3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter 4 Global Data Center Power Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter's Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Data Center Power Market, By Product
Chapter 7 Global Data Center Power Market, By End-User
Chapter 8 Global Data Center Power Market, By Geography
Chapter 9 North America
Chapter 10 Europe
Chapter 11 Asia Pacific
Chapter 12 Middle East & Africa
Chapter 13 Latin America
Chapter 14 Global Data Center Power Market Competitive Landscape
Chapter 15 Company Profiles
15.1Cisco Systems, Inc.
15.1.1 Key Facts
15.1.2 Financial Overview
15.1.3 Product Benchmarking
15.1.4 Recent Developments
15.1.5 Winning Imperatives
15.1.6 Current Focus & Strategies
15.1.7 Threat from competition
15.1.8 SWOT Analysis
15.2 Delta Electronics, Inc.
15.2.1 Key Facts
15.2.2 Financial Overview
15.2.3 Product Benchmarking
15.2.4 Recent Developments
15.2.5 Winning Imperatives
15.2.6 Current Focus & Strategies
15.2.7 Threat from competition
15.2.8 SWOT Analysis
15.3 Eaton
15.3.1 Key Facts
15.3.2 Financial Overview
15.3.3 Product Benchmarking
15.3.4 Recent Developments
15.3.5 Winning Imperatives
15.3.6 Current Focus & Strategies
15.3.7 Threat from competition
15.3.8 SWOT Analysis
15.4 Fujitsu Ltd
15.4.1 Key Facts
15.4.2 Financial Overview
15.4.3 Product Benchmarking
15.4.4 Recent Developments
15.4.5 Winning Imperatives
15.4.6 Current Focus & Strategies
15.4.7 Threat from competition
15.4.8 SWOT Analysis
15.5 General Electric
15.5.1 Key Facts
15.5.2 Financial Overview
15.5.3 Product Benchmarking
15.5.4 Recent Developments
15.5.5 Winning Imperatives
15.5.6 Current Focus & Strategies
15.5.7 Threat from competition
15.5.8 SWOT Analysis
Continued……
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