Data Center Power Market size is anticipated to cross USD 20 billion by 2032, according to the latest research report by Global Market Insights Inc.
The rising adoption of internet-connected devices as a major factor contributing to increased data center power supply. The number of internet users and the pace of digitalization is growing. The accelerated usage of connected devices has increased the need for higher network bandwidth, storage capacity, and computing power across data centers. It will promote the development of data center power solutions such as UPS and PDUs.
Strong focus on reduction of facility downtime
Data center power market revenue from the service component segment surpassed USD 4 billion in 2022. The rising emphasis on lowering unwarranted facility downtime will drive the services demand. To address customer needs, managed service providers focus on fully or partially handling data center facilities. Furthermore, the delivery of service designs from qualified professionals will also influence data center power reliability.
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Growing usage of online platforms for government service delivery
The industry share from the government application is poised to depict over 5% CAGR through 2032, due to the rapid espousal of digital solutions and services. In recent years, the authorities have been targeting to increase data accessibility for the delivery of a range of services through online portals. These targets will result in the construction of new data centers to deliver digital government services bolstering the data center power distribution.
The retail sector accounted for nearly 3% revenue share of data center power industry in 2022, owing to the surge in the deployment of advanced technologies to improve the shopping experience and operational efficiency. Retail businesses are also making considerable investments in e-commerce, leading to a high computational load in data centers. These factors will augment the installation of efficient power units to support data center administration.
Browse key industry insights spread across 300 pages with 301 market data tables and 30 figures & charts from the report, Data Center Power Market Size By Component (Solution [Power Distribution Units (PDUs), UPS, Generators, Cabling Infrastructure], Service [Managed, Professional]), By Application (BFSI, Colocation, Energy, Government, Healthcare, Manufacturing, IT & Telecom), COVID19 Impact Analysis, Application Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
South America to emerge as a key hub for industry players
South America data center power market to reach USD 750 million by 2032, considering the high internet penetration, especially in remote areas. The increased reliance on Internet will boost data traffic. Continuous surge in digitalization and online business will garner the demand for power supply solutions in data centers in the region.
Product launch initiatives by participants to define the competitive landscape
Black Box Corporation, Cyber Power Systems Inc., Schneider Electric SE, ABB Ltd., Cummins Inc., Caterpillar Inc., Huawei Technologies Co. Ltd., Legrand, and Toshiba Corporation are some of the prominent players profiled in the report. These firms are focusing on new product launches to reinforce their market footprint. For example, in June 2022, Schneider Electric introduced the single-phase APC Smart-UPS Modular Ultra with 5-20 kW capacity. This UPS with lithium-ion batteries was designed to offer scalable power to customers in a lower footprint, expanding the firm’s position in the business scenario.