The Data Center Power Market, By Component (Service (Support and maintenance, training and consulting, System integration), Solution (Power backup, Power distribution and measurement, Cabling infrastructure), Data Center Size (Small Mid-Sized Data Center, Large Data Center), Application (Telecom IT, Banking, Financial Services and Insurance (BFSI), Government, Other), and Region - COVID-19 Impact Analysis and Forecast to 2028.According to this report, The Data Center Power Market is projected to grow from USD 19.1 billion in 2020 to USD 27.3 billion by 2026 at a CAGR of around 6.3% during the forecast period.
Market Insights
The Data Center Power Market size is projected to grow from USD 20.2 billion in 2021 to USD 31.0 billion by 2028 at a CAGR of around 6.2% during the forecast period.
Key Players
Some players operating in the data center power market are-
- Vertiv Holdings Co (US)
- Raritan (US)
- ABB Ltd (Switzerland)
- Eaton Corporation Plc (Ireland)
- General Electric Company (US)
- Rittal GmbH Co. KG (Germany)
- Schneider Electric SE (France)
- Cummins (US)
- Tripp Lite (US)
- Hewlett-Packard Development (US)
- Delta Power Solutions (Taiwan)
- CyberPower Systems (US)
- Santak (China).
Market Dynamics
- The increasing adoption of advanced technologies such as cloud computing in numerous end-use industries.
- The growing use of data centers due to their superior benefits such as efficiency, enhanced scalability, and flexibility of business operations is another key factor propelling market growth.
- Increasing demand for advanced systems to reduce power consumption and the emergence of modular data centers
- Enterprises must reduce operational expenses to meet rising demands.
- State-of-the-art power-saving variants are being introduced, alongside modular data centers, to reduce data centre power consumption.
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