Rising Demand for Data Storage Propels Data Center Power Market to US$37.9 Billion by 2029 - Colocation Providers Accelerate Market Momentum - ResearchAndMarkets.com

The "Data Center Power Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.

The global data center power market is experiencing profound growth, with a compound annual growth rate (CAGR) of 9.88%, expanding from a valuation of US$19.6 billion in 2022 to an anticipated US$37.9 billion by the year 2029.

This surge underscores the burgeoning requirement for robust data storage infrastructures and the prioritization of efficiency coupled with cost-effectiveness in data center operations.

Rising Demand for Efficient Power Solutions

The data center power market is witnessing an increased appetite for energy-efficient solutions in light of soaring electricity costs and the substantial portion of data center expenses they represent. Operators are exploring advanced power distribution units, uninterruptible power supplies (UPS), and busways to mitigate power-related disruptions and optimize operational expenditure.

Power Distribution Systems Lead the Market

Within the market, power distribution systems are securing a dominant position, catalyzed by the shift towards intelligent power distribution units capable of monitoring environmental parameters. The uninterrupted power supply is also gaining traction, largely due to its critical role in ensuring business continuity across data-centric operations.

Colocation Providers Accelerate Market Momentum

Among varied end-user segments, colocation providers are infusing significant momentum into the market, driven by escalating demands for data storage, big data management, and cost-effective solutions. Enterprises and cloud providers are also contributing to the steady growth, as cloud computing becomes more prevalent and enterprise data centers undergo modernization.

North American Market Leads in Data Center Power

Geographically, North America remains at the forefront of the market, owing to the considerable presence of data centers and state-of-the-art infrastructural facilities in the region. Europe maintains a considerable market share, reinforced by stringent data protection directives that foster confidence and investment in data center capacity within the region.

While the data center power market is robust and evolving, it faces challenges such as the necessity for substantial initial investments and the sporadic availability of compatible devices. Moreover, a lack of awareness regarding the advantages of power management solutions and the need for stronger enforcement of energy conservation regulations are also influencing the market's trajectory.

Indications of this growth are evident through recent strategic collaborations and capital investments that aim to develop and manage cutting-edge data centers, addressing the needs for both power efficiency and advanced connectivity.

As the data center power market continues to grow, industry stakeholders remain observant of these developments and the market dynamics, particularly with respect to advancements in technology and shifting regulatory landscapes that may influence market progress in the coming years.

Key Attributes:

Companies Featured

• Hewlett Packard Enterprise Development LP
• ABB
• Vertiv Group Corp
• Schneider Electric SE
• Eaton
• Rittal GmbH & Co. KG (Friedhelm Loh Group)
• Raritan Inc.
• Delta Electronics, Inc.
• General Electric
• Huawei Technologies Co., Ltd.

Market Segmentation:

By Solution

• Power Distribution Unit
• UPS
• Busway

By End-User

• Colocation Providers
• Cloud Providers
• Enterprises

By Geography

• North America
  • USA
  • Canada
  • Mexico
• South America
  • Brazil
  • Argentina
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Spain
  • Others
• Middle East and Africa
  • Saudi Arabia
  • Israel
  • UAE
  • Others
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Taiwan
  • Thailand
  • Indonesia
  • Others

For more information about this report visit https://www.researchandmarkets.com/r/xm8kjw

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