Data Center Substation Market Growth Scenario with 5.2% of CAGR by 2028 - The Insight Partners

According to The Insight Partners' market study on "Data Center Substation Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, Voltage Type, and Geography," the market is expected to grow from US$ 9784.42 million in 2021 and is projected to reach US$ 13947.91 million by 2028; it is expected to grow at a CAGR of 5.2% from 2021 to 2028.

Impact of COVID-19 Pandemic on Data Center Substation Market

The COVID-19 pandemic has shaken several industries including manufacturing, retail, construction, and automotive. The tremendous growth in the spread of the novel coronavirus has urged governments worldwide to impose strict restrictions on vehicular and human movement. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has negatively affected economies and countless industries in various countries. The lockdown imposition has resulted in the lesser production of commodities, goods, and services.

Get Sample PDF Brochure at https://www.theinsightpartners.com/sample/TIPRE00025991?utm_source=OpenPR&utm_medium=10051

The number of internet users is increasing worldwide due to growing population. There are 4.66 million internet users globally (i.e., 59% of the global population), of which 92.6% (4.32 million) users access the internet through mobile devices. Denmark, the UAE, and Sweden have the highest internet penetration rate across the world. Further, till 2020, APAC recorded the largest number of online users with over 2.5 million, whereas Europe was ranked second with approx. 728 million internet users. In 2020, China held the leading market share of internet users worldwide, followed by India and the US. China has more than 854 million internet users, whereas India has around 560 million online users. Digitalization and internet penetration are in the initial phase across a few MEA countries, such as Oman, Qatar, and Kuwait. Industries are transforming their business to digital platform due to continuous growth in internet users. Thus, the rising amount and variety of data on social media create the need for data centers, which, in turn, create lucrative opportunities for the data center substation market to offer smooth transmission and distribution of continuous electric power supply.

The substation connects the data center to its electric supply, usually a public utility system, although distributed power generation sources such as fuel cells or solar arrays are also considered. A substation is a structure in the power network where transmission routes and distribution feeders are connected via circuit breakers or switches by busbars. This allows controlling the power flow across the network and general switching procedures for maintenance purposes. These enclosed zones mainly step up or step down the voltage in transmission lines to a particular level suitable for the distribution system. The rapid growth in the volume of structured and unstructured data along with the increasing demand for cloud computing subsequently drives the demand for efficient and reliable substations. The growing demand for interrupted and smooth transmission and distribution of electricity to power data center facilities is anticipated to drive the growth of the market over the forecast period. For instance, ABB introduced a purpose-built substation to offer tailored solutions to the rapidly growing data center industry. The rising focus on replacing old electrical substation infrastructure with upgraded, high-quality, modular, digital, and gas-insulated systems is also expected to augment the data center substation market growth.

To know more Speak to our Analyst at https://www.theinsightpartners.com/speak-to-analyst/TIPRE00025991?utm_source=OpenPR&utm_medium=10051

Growing Number of Data Centers to Boost Demand for Data Center Substations

Data centers have increasingly become a crucial aspect of the modern economy, from the servers operating in SMEs to the organization data centers supporting large business corporations and the plantations running cloud computing services hosted by various technology giants such as Amazon, Facebook, and Google. In the wake of a globally snowballing digital economy and the data center industry, which is challenged continually with staying ahead of customers' IT roadmaps, different end users have emerged to distinguish themselves with varying data center requirements. The need for data storage is also surging due to the increasing demand for big data analytics and cloud-based services, such as online content comprising movies, apps, videos, and social media. Therefore, the increasing number of data centers boosts the need for data center substations to get sufficient power supplies, which drives the growth of the data center substation market.

Strategic Insights:

The market players focus on new product innovations and developments by integrating advanced technologies and features to compete. In June 2021, Siemens Energy aims to strengthen the transmission network in Saudi Arabia's capital, Riyadh, bringing power to more than 30,000 homes in ROSHN's first residential community in Riyadh, which spans 20 million square meters.

The global data center substation market is segmented into component, voltage type, and geography. On the basis of component, the market is segmented into transformers, switchgears, relays, and others. On the basis of voltage type, the market is segmented into 33kV-110kV, 111kV-220kV, 221kV-500kV, and above 500kV. Further, on the basis of geography, the data center substation market is primarily segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.

Buy Complete Report at https://www.theinsightpartners.com/buy/TIPRE00025991?utm_source=OpenPR&utm_medium=10051

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

This release was published on openPR.