According to Future Market Insights (FMI), the market for data center power management will experience strong CAGR growth of about 7% throughout the anticipated period. (2022-2032).
The survey predicts that the market will be worth US$ 19 billion by the end of 2022. Future Market Insights claims that the market is growing as a result of the increased global demand for data consumption per person.
Data centers are essential to modern society. The digitalization of the world economy and the significant shift toward cloud-based data storage are driving up demand for data centers globally.
This network of data centers requires a tremendous amount of energy to operate. Therefore, the adoption of renewable energy sources and a coordinated strategy for data center power management is having an impact on the market for this technology worldwide.
Through 2032, the DCIM (data center infrastructure management) software market is projected to expand at a strong CAGR of around 8%.
Between 2022 and 2032, the UPS (uninterruptible power supply) systems market is projected to expand at a CAGR of 8.3%.
The hyper-scale data centers market, by data center type, will increase at a CAGR of 9.0 percent by 2032.
Industry-wise, the BFSI segment will increase at the highest rate—a CAGR of 9.7%—between 2022 and 2032.
The data center power management market is dominated by North America, but with a 9 percent CAGR, South Asia & Pacific will experience the fastest growth.
Tier-4 data centers will experience the highest growth, with a CAGR of 8.2 percent between 2022 and 2032.
“Demand for technologically advanced items is rising as a result of economic expansion in China, India, and other emerging economies. To grow their operations throughout the Asia Pacific, data center power management component manufacturers, distributors, and suppliers are likely to focus on these markets, according to an analyst at FMI.
By modernizing existing data centers, hardware component demand will increase.
The market for data center power management is expanding as a result of data centers being upgraded to increase their performance. Infrastructure, energy backup facilities like UPSs, and modifications to power distribution units are examples of such improvements.
Data centers are in greater demand as green infrastructures are being used more frequently. A clever automated system that monitors and manages support systems like cooling equipment, power backup, and distribution makes excellent use of electricity and hence decreases the consumption of electricity.
The industry is defined by the presence of both big and small players in data center power management. Leading businesses are expanding their clientele using a range of strategies, including mergers and acquisitions, partnerships, and collaborations. Global government initiatives and the growth of private data centers are providing new industry players with significant growth opportunities.
In March 2021, Eaton completed the acquisition of Tripp Lite to expand its power business in the Americas. The acquisition helped the companies single-phase UPS business, IT product line, and data center clients receive better services. Additionally, it increased the reach of edge computing.
In March 2020, ABB Ltd. announced the launch of a cutting-edge UPS system. The MegaFlex system is resilient, small in size, and has a 45 percent lower environmental impact. It offers less energy loss and sustainable power technology with high-efficiency converters.
Key Companies Profiled
ABB, Eaton, Schneider Electric SE, DataSpan, Huawei Technologies Co., Ltd., Toshiba Electronic Devices & Storage Corporation, Bxterra Power Technology, Cyber Power Systems, Inc., General Electric, ZPE Systems, Inc., Aggreko, Sunbird Software, Inc., Elco Solutions, Socomec, Hewlett Packard Enterprise, Enlogic, Delta Electronics, Inc., Raritan Inc., Toshiba Electronic Devices & Storage Corporation
More Valuable Insights on Data Center Power Management Market
The data center substation industry research report from Future Market Insight is divided into seven main sections: component, data center type (modular, colocation, cloud, edge, hyperscale, micro mobile data center), data center tier (tier- 1, 2, 3, 4), installation type (new installation, retrofit/upgrade), end-user (cloud providers, colocation), and