Data Center Power Market forecast to surpass $27bn by 2024

Data Center Power Market to grow at 8% CAGR from
2017 to 2024: Global Market Insights Inc.
Data Center Power Market size was valued at around USD 14 billion in 2016 and will
grow at over 8% CAGR estimation from 2017 to 2024. Data Center Power Market size
is set to exceed USD 27 billion by 2024; according to a new research report by Global
Market Insights, Inc. Rising cost of energy and growing awareness of consumers to
save electricity has led manufacturers to design intelligent power management
products, which is helping reduce the power usage effectiveness (PUE) ratio and
improve the energy consumption.
The outdated facilities are being substituted with modern systems which consist of
innovative management technologies. Moreover, the shift of the industry towards
hyperscale and colocation facilities will fuel the demand for data center power market
over the forecast timespan. Data center power market is witnessing increasing
demand from the IT & telecom industry, which can be attributed to the enormous
volume of data generated by the businesses that require adequate storage and
demand for improving service levels.
To streamline operations, reduce costs, and enhance the performance companies
operating in the IT & telecom industry are focusing on deployment of these facilities.
In addition, the infrastructure development across several countries by major IT
companies such as IBM, Google and Microsoft are providing an impetus to the data
center power market growth.
The rapidly rising energy costs has made the data center operators more inclined
towards the greener facilities to improve the operational efficiency of the equipment,
which will impact the sales of the equipment such as cabling, busways and intelligent
PDUs over the forecast timespan. Players are manufacturing equipment with energy
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efficient technologies and are utilizing renewable and green energy for their products.
In addition, data center power market service providers are implementing the adaptive
control systems to minimize the energy consumption. The efficient power solutions
installed in the facilities are helping companies to reduce the overall operating cost,
which in turn are reducing the total cost of ownership (TCO).
Emerging trend of utilizing colocation facilities by companies in comparison to the
construction of new facilities can be credited to the requirement of huge capital
investments. Factors such as capital expenditures associated with building newer
facilities followed by need for updating large computing centers are compelling the
colocation data center power market growth.
In addition, growing popularity of using colocation among the cloud service providers
and private companies is fueling the industry growth. However, complexity of data
center designs and high initial investments required for these facilities may hamper
the data center power market growth.
Europe data center power market, by solution, 2016 & 2024 (USD Million)
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Increasing number of the facilities coupled with the rising investments by various
business entities across the Nordic region will fuel the Europe data center power
market growth. Several companies are focusing on making expansion in the region
owing to the presence of abundant fossil fuels and the favorable temperature. Facility
operators are investing in high amount in outsourcing the services to meet the everincreasing
capacity requirements. Growing demand of virtualization by businesses
implementing and using cloud technology is expected to boost the deployment of
power solutions in European countries.
Key companies in the data center power market comprise Schneider Electric SA, ABB
Ltd., Toshiba Corporation, Emerson Network Power, Eaton Corporation, General
Electric, Tripp Lite, and Belkin International among others. Manufacturers are looking
to spread their business and presence to potential regions such as Asia Pacific, South
America and MEA by establishing more number of data centers.
The data center power market is significantly competitive, where the major players are
competing based on customer base, and the need for high energy requirements.
Intense competition prevails in the industry, where several SMBs and large businesses
are implementing efficient facilities for their businesses to sustain in the intensely
competitive environment. Several growing businesses are preferring the construction
of new facilities instead to gain a competitive edge over their peers.
Browse key industry insights spread across 280 pages with 303 market data tables &
90 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, Telecom & IT),
Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK,
Germany, France, Spain, Poland, Benelux, China, India, Japan, Singapore,
Australia, Brazil, Argentina, Chile, Peru, GCC, South Africa), Application
Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in
detail along with the table of contents:
https://www.gminsights.com/industry-analysis/data-center-power-market
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Industry Coverage
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
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specially designed and presented to aid strategic decision making. These exhaustive
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