Press release
Data Center Power Market Forecasts to 2024 and Analysis
Data Center Power Market size is anticipated to witness a considerable growth over the forecast timeline due to the increasing demand for products with intelligent features such as remote access of devices & troubleshooting problems along with environmental and security feature. Moreover, demand of power back-up solutions owing to the environmental or mechanical problems, and data storage space requirement is driving the data center power market.Adoption of services such as mobile computing, online services by enterprises, and increasing usage of social media, requires large amount of storage devices for the content, which expected to catapult the data center power market growth. It helps operators to remotely monitor and manage the power usage effectiveness. Further, the software helps in analyzing the power quality, capacity management, and IT infrastructure power consumption. Moreover, elements such as remote software and sensors attached to the systems is expected to ensure the efficient management of data center power market.
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Increasing number of data centers across the globe is expected to drive the data center power market growth. Due to growing rate of carbon emissions and electricity, enterprises are focusing on building green data center facilities to ensure energy efficiency by reducing the electricity consumption and carbon footprint. Data center automation management activities will become the norm to reduce the work load and human errors, and to speed up responsiveness to equipment failures, thereby enhancing contributing to the industry growth. Further, there will be a continuous focus on improving the software platforms which can provide connectivity and components unified view to increase management efficiency and provisioning.
Data center power market will have more resources available to them including IoT integrated data from different resources for optimized functioning of their facilities. Moreover, by clubbing smart technologies into the data center, enterprise will be able to monitor real time status of components and environmental measurements to maintain smooth work flow.
Energy storage in the data center power market are used to backup generators during power shortages. There has been an increasing interest in adopting energy storage devices by firms to reduce high electricity bills. Generators provide power in case of interruption of main power. The components do not easily bear power spikes owing to swapping from normal to an emergency power supply. These generators can be classified into liquid propane or natural gas generator, diesel and bi-fuel generators.
Factors such as server power & cooling power costs, cooling capacity, physical space, compute cycle, high energy consumption is expected to limit the data center power market development. Carbon and water efficiency issues as these uses large amount of electricity along with in-efficient water usage for cooling purpose can also restrict the progress. Moreover, large upfront cost related to construction of highly advanced facilities along with increased complexity in running in-house data center can be a barrier for the SMEs in data center power market.
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Stringent government regulations towards environment protection is having a negative impact on the data center power market. Further, operators are compelled to reduce power consumption and carbon footprint. For instance, Google data center at Hamina, Finland is configured to use 50 percent less using natural sea water for cooling rather than chemicals, operating at average power usage effectiveness.
On the basis of application, data center power market is segmented by BFSI, healthcare, and IT & telecom. In BFSI, data center power helps in powering branch automation, connecting the customer service desk, and IT equipment in the branch office with the customer’s data in the back office. The data center constitutes the critical load in the everyday operations of the business, and act as the backbone of financial data computation, records storage and transaction system.
In the U.S., increasing number of new data center power construction as well as innovations such as powering the facilities through renewable energy resources is anticipated to fuel the data center power market in the country. In Europe, increasing demand for computational power from several enterprises will fuel the industry growth. Further, the rise in demand for information storage space is spurring the high demand in the region.
Key players operating in the data center power market are Schneider electric, Emerson Electric, General electric, Eaton, ABB. Emerson Electric provides critical infrastructure technologies and life cycle services for information and communications technology system. The major players are focusing on forming strategical alliances with other service providers to enhance and revolutionize the data center power market. Schneider electric had partnered with HP in 2014 to provide simultaneous visibility into asset data for both IT and facilities managers, enabling a key next step in automated service deliveries and data center service optimization.
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