The data center power market attained a value of USD 8.20 billion in 2022 and is projected to attain USD 14.96 billion by 2030, with an estimated Compound Annual Growth Rate (CAGR) of 7.8% during the forecast period from 2023 to 2030.
Data center power is the cornerstone of the digital age, driving the uninterrupted functioning of these technology hubs. With reliability and sustainability as guiding principles, the data center industry is forging ahead, seeking innovative ways to optimize energy consumption and integrate renewable sources.
Market Analysis
Environmental concerns have become increasingly critical in the data center industry. As data centers consume vast amounts of electricity, optimizing their energy efficiency and embracing sustainable practices have become essential. This drive towards eco-friendly operations and reducing carbon footprints significantly influences the development and adoption of energy-efficient power solutions in the data center power market.
Impact of Recession
The data center power industry is not immune to the impacts of an economic recession. During periods of economic downturn, the market may experience fluctuations in demand, delayed investments and upgrades, a focus on energy efficiency, opportunities for renewable energy integration, market consolidation, and government policy changes. Data center operators and power equipment manufacturers must adapt to these changing dynamics to navigate through challenging economic times successfully.
Segmentation Analysis
The data center power is undergoing a transformation as various industries recognize the importance of energy efficiency and reliable power infrastructure. The Solutions segment, driven by environmental concerns, cost savings, and scalability, is leading the charge towards sustainable and efficient data centers. Simultaneously, the BFSI segment’s demand for uninterrupted operations, compliance adherence, and data-intensive operations continues to fuel the growth of robust power solutions.
Regional Status & Analysis
As the demand for data continues to surge, the importance of sustainable data center practices becomes increasingly evident. North America’s proactive approach towards integrating renewable energy, implementing energy-efficient infrastructure, and embracing green data center initiatives puts it in a position to dominate the data center power. By pioneering sustainable innovations, North American data centers not only secure their competitive advantage but also contribute significantly to global efforts in combating climate change.
Frequently Asked Questions/ Key Reasons to Purchase this Report
Q1. What is the projected outlook for data center power market growth?
Ans: The market is projected to surpass USD 14.96 billion by the year 2030.
Q2. What are the major factors influencing the data center power market?
Ans: The market holds promising prospects amid the rapid growth of digital infrastructure. As data centers continue to expand and evolve, power demands will rise exponentially.
Q3. Who are the leading players in the data center power market?
Ans: Group Corp., ABB Ltd., Eaton, Corporation PLC, Mitsubishi Electric Corporation, Delta Electronics Inc., Raritan Inc, Rittal GmbH & Co. KG, CyberPower System, Black Box Corporation.