Global Data Center Power Market to 2028
DUBLIN–(BUSINESS WIRE)–The “Global Data Center Power Market Size, Share & Industry Trends Analysis Report By Component, By Operating Environment, By End User, By Regional Outlook and Forecast, 2022 – 2028” report has been added to ResearchAndMarkets.com’s offering.
The Global Data Center Power Market size is expected to reach $13 billion by 2028, rising at a market growth of 7.7% CAGR during the forecast period.
A data center is a self-contained unit within a building that stores computing equipment like servers as well as other components, including network, telecommunications, and storage systems. Every entity that makes or uses data, including government agencies, educational institutions, financial organizations, retailers of all sizes, social networking sites, providers of online information, and many more, requires data centers to a certain extent. Because AC is frequently converted to DC or vice versa, any data center is expected to certainly require alternating current and direct current electricity.
The administration, measuring, and surveillance of power generation, consumption, and optimization inside a data center facility is known as data center power. It is a stage of the data center infrastructure management process that aims to offer administrators administrative control over a data center’s electrical energy tools and operations. It entails defining, executing, and monitoring strategies to increase data center power efficiency at both the hardware and software levels. This can include replacing outdated equipment with newer, lower-power equipment and installing power management software to measure, monitor, and reduce power consumption throughout the data center.
When assessing data centers, one of the most critical and sometimes underestimated criteria is electricity. Power is the vital component that brings the data center to operation. It is also one of the most essential considerations when determining colocation costs. Servers, switches, routers, and other IT infrastructure are powered by two separate types of power circuits viz. alternating Current and Direct Current.
Access to on-demand power or currents, like 240V, 220V, 208V, 120V, or 110V is provided via an AC power supply through plugging in devices. At regular periods of time, alternating current (AC) allows current or voltage to change direction or polarity. Customers who require services for a facility, storage devices, or rack-mounted servers should consider AC power circuits.
Market Growth Factors
Rising demand for reduced operational expenses across enterprises
Datacenter owners strive to reduce operational costs via optimizing the overall costs. Power tariffs, racks, data center servers, and HVAC systems all grow as operational costs rise. The annual operation expenditure of an average large data center accounts for a significant proportion of capital expense.
Power costs can also majorly increase the total cost of running data centers, depending on energy sources, data center tiers, and geographies. With increasing reliability, data center infrastructure expenses and operational complexities rise. The majority of the money spent on data centers goes toward power. It is utilized in data centers to run IT equipment, such as computers and servers, as well as cooling and power infrastructure.
Increasing number of data centers renovations
The increasing data generation along with the demand to improve data center performance has increased the need for data center remodeling. The data center, server rooms, and surroundings should be renovated for a variety of reasons. When equipment is used in high ambient temperatures or exposed to extreme environmental conditions, it depreciates. Data center renovations are carried out to upgrade facilities, such as infrastructure, to sustain the load of IT requirements, expand available power and space, and improve data center facilities’ overall reliability.
Market Restraining Factors
High initial investment
Due to the requirement for a substantial initial investment, businesses face significant challenges in the data center power sector. Modern data center power systems necessitate a shift away from traditional data center components toward more modern and updated data center components. It necessitates infrastructure upgrades, new gear and software installs, as well as manpower. This shift requires a significant initial expenditure. Due to this requirement, most businesses, even SMEs with limited money, are unable to modernize their data centers. The initial investment required to deploy energy-efficient power solutions is much higher than that required to establish standard power solutions.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Solution
- Services
By End User
- BFSI
- Retail
- IT & Telecom
- Public sector & utilities
- Energy
- Manufacturing
- Healthcare
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
- Schneider Electric SE
- Siemens AG
- Legrand S.A.
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- ABB Group
- Eaton Corporation PLC
- Mitsubishi Electric Corporation
- Vertiv Holdings Co.
- Delta Electronics, Inc.
- Cisco Systems, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/afw3j1
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