Data Center Power Market Size in Colocation Segment is Expected to Account for the Majority of Industry Share by 2024 | ABB, Black Box, Caterpillar Inc., Cummins Inc., Delta Electronics, Eaton, GE, Legrand, Siemens, TDK, Toshiba, Vertiv

The colocation data center power market size accounted for a majority of the industry share in several Asian and European countries over the last few years. Companies are gradually shifting their IT infrastructure to the cloud with colocation providers offering a perfect solution for cloud providers and business servers owing to which a sharp increase in the construction activities is being witnessed. In addition, the colocation providers are offering companies uninterrupted maintenance and services, thereby enhancing their performance and productivity. The growing focus on the reduction of operational expenditure and capital by companies will drive the colocation data center power market over the forecast timespan.

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Some of the key players in the data center power market are ABB, Belkin International, Black Box, Caterpillar Inc., Cummins Inc., Delta Electronics, Eaton, Emerson Network Power, Generac Power Systems, GE, Hewlett Packard Enterprise, Huawei Technologies, Legrand, Phoenix Contact, Schneider Electric, Siemens, TDK, Toshiba, Vertiv.

The growth can be attributed to the rising trend of virtualization and cloud computing. The growing need for cloud storage has resulted in a growing number of data centers globally, which are consuming a huge amount of energy. For instance, according to the U.S. Department of Energy, data centers in the U.S. accounted for around 2% of the overall energy consumption. To increase efficiency and Power Usage Efficiency (PUE) ratio, several designers are deploying innovative power management solutions, such as battery monitoring equipment, smart UPS, and intelligent rack PDUs, which are the key trends that will boost the data center power market demand.

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Several businesses are focusing on the implementation and construction of green infrastructure facilities owing to the rise in the consumption of electricity and carbon emissions. Green data centers are helping businesses to ensure energy efficiency by reducing carbon footprint and electricity consumption. The usage of these facilities is growing within the larger businesses and SMBs for the collection, evaluation, processing, and distribution of a vast amount of data in an incessant way. Companies operating in the entertainment and IT & telecom sector are implementing and using power management solutions for their infrastructure, providing an impetus to the data center power market growth.

In North America data center power market size, factors including digitization and virtualization have led to the emergence of several cloud-based companies, which are playing a vital role in the regional growth. The growth is attributed to the presence of public cloud companies, such as Microsoft and Amazon, which are generating opportunities for construction of new data center coupled with the renovation of the legacy data centers. The U.S. was a major revenue generating country in 2016 as several providers were involved in powering the facilities for data center operation through renewable energy sources.

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With the tech cosmos depicting massive growth potential in the years ahead, it is anticipated that data center power market trends would undergo remarkable alterations, which would favorably influence the revenue graph of this business space. According to a comprehensive report collated by Global Market Insights, Inc., data center power market size is forecast to surpass a valuation of USD 27 billion by 2024.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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