The data center power supply market is expected to reach $8.69 billion in 2023 and $17.23 billion in 2032, growing at a CAGR of 7.9% from 2024 to 2032.
A data center is a dedicated hardware facility encompassing networking, storage, and communication technology, vital for various sectors including government, education, finance, retail, and online services. Power management solutions play a crucial role due to high energy consumption, with the expanding data center market driven by cloud computing. Continuous advancements are needed to manage the substantial energy demands of data centers with numerous servers, making Data Center Power a promising growth sector in the forecast period.
Key Players in the Power for Data Center Market
ABB (Switzerland), Black Box (US), CyrusOne (US), Eaton (Ireland), Equinix Inc. (US), GDS Holdings (China), Generac Power Systems, Inc. (US), General Electric Company (US), Huawei Technologies Co. (China), Legrand (France), N1 Critical Technologies (US), NTT Global Data Centers (Japan), Raman Power Technologies (India), Rittal GmbH & Co. KG (Germany), Schneider Electric (France), Vertiv Group Corp.
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This report compiles all the collected information and answers your request. However, these market analysis will help you understand the market growth both at the global and regional level. For market data analysis, we have market panorama tools such as market dynamics, competitive analysis, PESTEL analysis, SWOT analysis, Porter five forces analysis, value chain analysis, technology roadmap and evolution, regulatory framework, pricing trend analysis, patent analysis, Covid-19 impact analysis, Russia-Ukraine war impact, etc.
Market Dynamics and Factors of Data Center Power Supply Market
Driving Factors
Drivers: Increasing Demand from Enterprises to Reduce Operational Costs
The data center power supply market is experiencing a surge in demand due to enterprises seeking to reduce operational costs. This is driven by the growing need for efficient power management solutions that optimize energy consumption, reduce costs, and improve overall operational efficiency. As enterprises become more dependent on data centers for their critical operations, reducing power-related expenditures has become a top priority. This demand is driving innovation in power technology, leading to the development of advanced solutions that not only meet power requirements but also contribute to sustainability goals, which will drive significant growth in the data center power market in the near term.
Opportunities: Data
Center Retrofits for Increased Efficiency
Data center retrofits to increase efficiency present a significant opportunity in the technology landscape. As existing data center infrastructure ages and new, more efficient technologies emerge, companies can use this opportunity to modernize their facilities. By upgrading hardware, optimizing cooling and power management systems, and adopting advanced data center designs, companies can achieve greater energy efficiency, reduce operational costs, and improve overall performance. Efficiency gains from such retrofits not only align with sustainability goals, but also drive innovation and competitiveness in the ever-evolving digital realm by meeting the growing demand for data-intensive applications and services.
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Analysis of Data Center Power Market:
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Regional Analysis of Data Center Power Market
The data center power market is dominated by North America due to advanced technological infrastructure, data center concentration, and high investments in cloud computing and digital services. Additionally, stringent regulations and growing awareness of energy efficiency are driving the adoption of advanced power solutions in data centers in the region, further consolidating its dominance in the market.
Regional Outlook
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
-Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
·Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
· South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
· In October 2023, ABB Equity released information that ZincFive is now among the list of authorized UPS products vendors. This progression brings nickel-zinc batteries in a position to compete with lithium-ion and lead-acid batteries that are currently incorporated and backed inside of ABB’s UPS solutions.
· In July 2023, At a recent event in Bangalore, ABB India’s Electrification launched simply the MegaFlex DPA UPS solutions developed for the Indian market. Integrated into ABB EcoSolutions, this pioneering efficient and sustainable UPS can be regarded as in compliance with the ABB circularity framework. Built specifically for use in data centres and other high-density computing environments, this is the most energy efficient model, taking up minimal space. With the trending use of SaaS and IaaS Apps by enterprises, it is important that data center offers high availability.
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