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Market Analysis
The global data center power market is predicted to grow at a 10% CAGR between 2017- 2023, states the recent Market Research Future (MRFR) analysis. Data center power, simply put, is a power solution for managing the PUE (power usage effectiveness) and increasing the efficiency of data centers. Owing to its alluring features and benefits, it has wide applications in retail, healthcare, power and energy, government, BFSI, IT and telecommunication, and others.
Various factors are propelling the global data center power supply market share. According to the recent MRFR report, such factors include increasing construction of new data centers owing to the burgeoning demand for data storage via organizations worldwide, burgeoning rise in power consumption by data centers, and rising implementation of data center power solutions by IT professionals and data center managers for business continuity. Additional factors adding to the market growth include growing urbanization, an increasing number of data centers, rapidly developing IT infrastructure, growing use of OTT content services, rising need for high power ratings, shift towards intelligent power managing products, development and increasing use of modular data centers, and increasing power consumption of data centers worldwide.
On the flip side, high initial investments, complexity in data center designs, increasing raw material cost and skilled labor, a slowdown in the semiconductor industry, and the current COVID-19 impact are factors that may limit the global data center power market growth over the forecast period.
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global data center power market based on end users, data center type, and components.
By component, the global data center power market is segmented into service and solution. The solution segment is again segmented into cabling infrastructure, uninterrupted power supply (UPS), power distribution & backup solutions. The services segment is again segmented into system integration, support and maintenance, training and consulting, and others.
By data center type, the global data center power market is segmented into enterprise size data center, mid-size data center, and large size data center.
By end user type, the global data center power market is segmented into retail, healthcare, power and energy, government, BFSI, IT and telecommunication, and others.
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