- North America contributed 36% of market share in 2023.
- Asia-Pacific is estimated to expand the fastest CAGR between 2024 and 2033.
- By component, the solution segment held the largest market share in 2023.
- By component, the service segment is anticipated to grow at a remarkable CAGR between 2024 and 2033.
- By data center size, the small data center segment generated the largest market share in 2023.
- By data center size, the large data center segment is expected to expand at the fastest CAGR over the projected period.
- By application, the IT & telecom segment has contributed the major market share in 2023.
- By application, the healthcare segment is expected to expand at the fastest CAGR over the projected period.
Data Center Power Management Market Data and Statistics
- According to the U.S. Department of Energy, data centers account for about 2% of the country’s total electricity consumption, highlighting the need for energy-efficient power management solutions.
- The World Economic Forum predicts that data volume will surge in the upcoming years, projected to hit 463 exabytes by 2025.
- GSMA anticipates a continuous rise in Internet of Things (IoT) connections from 2020 to 2030, with an estimated total of 24 billion enterprise IoT connections by 2030. This growth, coupled with the expansion of social media, is exponentially increasing the global data generation and storage.
- In July 2023, ABB India’s Electrification business introduced groundbreaking UPS solutions tailored for data centers. This innovative UPS, a pioneer in sustainability, forms part of the ABB EcoSolutions portfolio and aligns with ABB’s circularity framework.
Get a Sample: https://www.precedenceresearch.com/sample/4023
Growth Factors
Several factors contribute to the growth of the Data Center Power Management Market. Firstly, the exponential growth of data generated by businesses across various industries necessitates the expansion of data center infrastructure. As organizations embrace digital transformation initiatives and IoT technologies, the demand for data storage and processing capabilities continues to surge, driving the need for efficient power management solutions. Additionally, the increasing focus on sustainability and environmental conservation encourages data center operators to adopt energy-efficient technologies and practices, fueling the demand for power management solutions that reduce carbon footprint and enhance resource utilization.
Region Insights:
The Data Center Power Management Market exhibits significant regional variation, influenced by factors such as technological advancements, regulatory policies, and economic conditions. North America holds a dominant position in the market, attributed to the presence of leading technology companies, high adoption of cloud services, and stringent regulations promoting energy efficiency and sustainability. Europe follows closely, driven by growing investments in data center infrastructure and initiatives aimed at reducing carbon emissions. The Asia Pacific region emerges as a lucrative market opportunity, propelled by rapid urbanization, expanding digitalization efforts, and increasing internet penetration across emerging economies like China and India.
Data Center Power Management Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 7.15% |
| Global Market Size in 2023 | USD 7.12 Billion |
| Global Market Size by 2033 | USD 14.20 Billion |
| U.S. Market Size in 2023 | USD 1.92 Billion |
| U.S. Market Size by 2033 | USD 3.83 Billion |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Component, By Data Center Size, and By Application |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Data Center Power Management Market Dynamics
Drivers:
Several drivers propel the growth of the Data Center Power Management Market. One key driver is the escalating demand for colocation services, driven by businesses seeking scalable and cost-effective solutions for data storage and processing. Colocation facilities require robust power management solutions to optimize energy usage and ensure uninterrupted operations. Moreover, the proliferation of cloud computing and virtualization technologies fuels the adoption of data center power management solutions, as these technologies rely heavily on efficient power distribution and cooling mechanisms to support dynamic workloads and resource allocation.
Opportunities:
The Data Center Power Management Market presents promising opportunities for innovation and market expansion. With the emergence of edge computing and the Internet of Things (IoT), there is a growing need for localized data processing and storage capabilities closer to end-users. This trend opens up opportunities for vendors to develop specialized power management solutions tailored for edge environments, addressing unique requirements such as space constraints and harsh operating conditions. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) algorithms into power management systems offers opportunities for predictive maintenance, real-time optimization, and energy efficiency improvements, enhancing the value proposition for data center operators.
Challenges:
Despite the favorable market dynamics, the Data Center Power Management Market faces several challenges that could impede its growth trajectory. One significant challenge is the complexity of modern data center environments, characterized by diverse hardware and software components, multi-vendor ecosystems, and heterogeneous infrastructure architectures. Integrating and managing power management solutions across such environments poses technical challenges and requires interoperability standards and seamless integration capabilities. Moreover, the upfront costs associated with implementing advanced power management solutions and the longer payback periods may deter some organizations from investing in these technologies, especially smaller enterprises with limited budgets.
Read Also: Call and Contact Center Outsourcing Market Size, Growth, Report 2033
Recent Developments
- In October 2023, ABB Ltd disclosed its collaboration with ZincFive, welcoming them as an authorized supplier for its UPS systems. ZincFive’s nickel-zinc battery option joins the existing lithium-ion and lead-acid offerings, now integrated and supported within ABB’s uninterruptible power supply system.
- Also in October 2023, Vertiv initiated a partnership with American Electric Power (AEP) and inaugurated the Vertiv Customer Experience Center. This center showcases a microgrid power solution aimed at aiding data centers in tackling challenges related to electrical grid capacity. The Vertiv microgrid, with a capacity of 1.0 megawatt (MW), comprises an Uninterruptible Power Supply (UPS) system, lithium-ion battery, system controls, and other crucial components, catering to customers exploring the potential of microgrids and energy storage systems for their mission-critical power systems.
- In November 2023, Vertiv introduced the Vertiv SmartMod Max CW, a prefabricated modular data center tailored to meet escalating demands. This solution accommodates up to 200kW of total IT load in a single system, offering a variety of customization options including power capacities, rack quantities and sizes, and module dimensions. The Vertiv SmartMod Max CW integrates the Vertiv Liebert EXM uninterruptible power supply (UPS) system in power ratings of 100 kW, 150 kW, and 200 kW, along with thermal management units equipped with intelligent controls, empowering small-scale operations such as edge data centers to fulfill their specific needs.
- In October 2023, ABB unveiled the ABB TruFit power distribution unit, an all-in-one solution designed to address the mounting demands of rapidly approaching data center project timelines. With flexibility ranging from 50 to 800 kVA, TruFit offers outstanding configurability, reliability, and safety features at the system level.
Data Center Power Management Market Companies
- Schneider Electric SE
- ABB Ltd
- Eaton Corporation
- Vertiv Group Corp
- Delta Electronics, Inc.
- Huawei Technologies Co., Ltd.
- General Electric Company
- Legrand SA
- Raritan Inc.
- Cyber Power Systems (USA), Inc.
- Tripp Lite
- Socomec Group
- Vertiv Co.
- Emerson Electric Co.
- Mitsubishi Electric Corporation
Segments Covered in the Report
By Component
- Solution
- Service
By Data Center Size
- Small Data Center
- Medium Data Center
- Large Data Center
By Application
- BFSI
- Colocation
- Energy
- Government
- Healthcare
- Manufacturing
- IT & telecom
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Contact Us:
Mr. Alex
Sales Manager
Call: +1 9197 992 333
Email: sales@precedenceresearch.com
Web: https://www.precedenceresearch.com
Blog: https://www.expresswebwire.com/
Blog: https://www.uswebwire.com/
