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Based on component, the micro data center market is categorized into solutions and service. The solutions segment held a market share of around 32% in 2022 and is expected to reach approximately 37% by 2032. The introduction of innovative UPS series is propelling power solutions in the market. The UPS systems offer enhanced efficiency, scalability, and adaptability, catering to the specific needs of micro data centers. For instance, in June 2021, Eaton, a leading global power management company, unveiled two new products in its micro data center and 9PX UPS series: the iCube 2.0 and the 9PX lithium-ion UPS. These offerings were specifically designed to cater to the distinctive requirements and challenges faced by Asian organizations seeking to ensure the long-term viability of their data center infrastructure. As businesses increasingly adopt edge computing, such UPS innovations play a pivotal role in sustaining the micro data center industry trends.
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Based on application, the micro data center market is divided into BFSI, colocation, energy, government, healthcare, industrial, IT & telecom, and others. The IT & telecom segment held a dominant market share in 2022. The increasing penetration of smartphones and internet connectivity are encouraging telecom operators to invest heavily and install modern solutions to improve their services. China and India are the major economies with high internet penetration and a strong presence of telecom operators. Data center establishments in China are growing rapidly due to the increased data storage requirements and large internet user base. Telecom operators are shifting toward micro facilities for edge computing applications to reduce network congestion and latency. With the rapid deployment of 5G network infrastructure, telecom companies are focused on improving their network quality and reliability.
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North America dominated the global micro data center market with a major share of around 37% in 2022. Telecommunications companies in the U.S. are deploying micro data centers to support their 5G infrastructure. These small data centers are strategically placed at cell towers or network aggregation points to reduce latency and improve network performance. The advancements in telecommunications in the U.S. closely align with the European Union's overall progress. In 2021, under the country code +1, there were a total of 459.48 million connections. Among these connections, 361.66 million were mobile phones, translating to an average of 1.1 mobile phones per individual. This factor will enhance the installation of network towers, which use micro data centers for operations.