JERSEY CITY, N.J., Sept. 17, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Data Center Power Market by Component (Service, Solution), by Vertical (BFSI, Government, Healthcare, IT and Telecom, Defense & Aerospace), by End-User (Enterprise data center, Mid-sized data center, Large data center), Geography". According to Verified Market Research, the Global Data Center Power Market was valued at USD 17.45 Billion in 2019 and is projected to reach USD28.44 Billion by 2027, growing at a CAGR of 6.32 % from 2020 to 2027.
This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.
Data centers spend a huge amount of money on power and to meet these operational expenses, modern data centers installing energy-efficient and cost-effective power systems. Thus, the increasing use of modern data center power systems that meet modern IT capabilities in a cost-effective and energy-efficient manner is boosting the market growth. To increase the efficiency and to decrease the power usage effectiveness (PUE) ratio, various designers and manufacturers are deploying and implementing advanced management solutions, which are improving the energy consumption in these systems, thereby driving the market growth globally. The rising digitization is resulting in a rapid expansion of digital infrastructure is expected to define the growth of the data center power industry over the coming years. Moreover, the rising adoption of cloud computing is also driving the cloud data centers market.
Data centers with thousands of servers consume electricity non-stop over a 24-hour. Such data centers require continued advancements in storage systems to cope with major growth in energy consumption. Hyperscale data centers operate servers at efficient utilization which can yield significant overall energy savings. Hyperscale data centers lookout efficiency to lower costs and let the firm restructure cooling requirements, lower energy bills, and also allow putting more compute in for the equal amount of cooling. In Sep 2018, Facebook built a hyper-scale data center in Singapore, supported by 100 percent renewable energy. This data center is incorporated with a new State Point Liquid Cooling (SPLC) system by which this technology reduces water and power consumption. According to the testing, this infrastructure can reduce the level of water usage by more than 20 percent in climates like Singapore.
Furthermore, the increasing data generation and the requirement of advanced data centers have increased the need for the renovation of old data centers to increase. Data center renovations are done to improve facilities, such as infrastructure to support the load of IT requirements, increase available space and power, and improve the overall reliability of data center facilities. Thereby, the increasing number of data center renovations as it costs lesser than building a new one is expected to provide opportunities for data center power vendors.
The major players in the market are Schneider Electric (France), Vertiv (US), ABB (Switzerland), Eaton (Ireland), Delta Electronics (Taiwan), Huawei (China), Legrand (France), Tripp Lite (US), Toshiba (Japan), and Siemens (Germany).
Verified Market Research has segmented theGlobal Data Center Power Market on the basis of Component, Vertical, End-User, Geography.
Data Center Power Market by Component
Data Center Power Market by Vertical
IT and Telecom
Defense & Aerospace
Data Center Power Market by End-User
Enterprise data center
Mid-sized data center
Large data center
Data Center Power Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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