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Data Center Power Market 2023 - Growth Drivers, Strategic Analysis, Market Share, Key Trends And Forecast To 2032
Data Center Power Market Analysis
The Business Research Company's Data Center Power Global Market Report 2023 identifies increase in need to store data in the cloud as the major driver for the data center power market's growth in the forecast period. Cloud storage refers to a cloud computing model that will store data on the Internet through a cloud computing provider that will manage and operate data storage as a service. For an organization, a data center holds servers and/or data storage. This will include the hardware itself, the space in which it is housed, the power systems and backup systems, environmental controls, and anything else needed to keep those servers running.
The global data center power market size is expected to grow from $21.68 billion in 2022 to $23.26 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The data center power market size is expected to grow to $30.67 billion in 2027 at a CAGR of 7.2%.
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Major competitors in the data center power market are ABB Ltd., Anord Mardix Inc., Cisco Technology Inc., Delta Electronics Inc., Eaton Corporation plc, Huawei Technologies Co. Ltd., Schneider Electric SE.
A key trend in the data center power market includes technological advancement. Major companies operating in the data center power market are focusing on developing new technological solutions to sustain themselves in the market. For instance, in June 2021, Hitachi ABB Power Grids, a Switzerland-based company operating in data center power, announced its new lifecycle management program technology. It gives users the ability to map and track the installed assets they have to fulfill the most pressing operational and technological requirements and to deliver full lifecycle value for their assets. The grid automation shield program offers the most recent details on the product lifetime and related services necessary for operation optimization.
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The data center power market is segmented -
1) By Product: PDU, UPS, Busway, Other Products
2) By Components: Solution, Services
3) By Tier Standards: Tier I and II, Tier III, and Tier IV
4) By UPS Systems: 1,000 kVA
5) By End-Use: IT and Telecommunications, BFSI, Government, Energy, Healthcare, Retail, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the data center power market.
The Business Research Company's "Global Data Center Power Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Data Center Power Market Include:
1. Executive Summary
2. Data Center Power Market Characteristics
3. Data Center Power Market Trends And Strategies
4. Data Center Power Market - Macro Economic Scenario
5. Data Center Power Market Size And Growth
……
26. Africa Data Center Power Market
27. Data Center Power Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Data Center Power Market
29. Data Center Power Market Future Outlook and Potential Analysis
30. Appendix
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