Data Center Power Management Market Analysis

Data Center Power Management Market Analysis

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Based on component, the solution segment is set to expand at 6% CAGR during the forecast period, attributed to the rising need for real-time power monitoring and accurate metering in data centers to track energy consumption & identify areas for optimization. Energy efficiency & optimization solutions, such as advanced cooling technologies and power distribution management systems, are gaining traction due to the need for reducing energy costs and carbon footprints in data centers.

Based on data center size, the small data center power management market size dominated around USD 1.2 billion in 2023. Small-scale businesses and enterprises are increasingly adopting data centers to fulfill their growing IT infrastructure needs. These data centers require efficient power management solutions to optimize energy consumption, ensure a reliable power supply, and minimize operational costs. These factors will boost the segment growth during the forecast period.

The North America data center power management market accounted for 35% of the revenue share in 2023. The region is home to several established data center facilities and technology companies, driving the adoption of advanced power management solutions. The increasing demand for cloud services, the rapid growth of IoT, and the need for energy-efficient data centers are key factors fueling regional market growth. The surging need for cloud services necessitates efficient power management solutions to support the expanding data center infrastructure and ensure the continuous delivery of services to applications.