As indicated by Acumen Research and Consulting, the global Data Center Power market size is evaluated to grow at CAGR around 7.3% during the estimate forecast period. The rising adoption of virtualization, cloud services, and big data analytics drives the growth of this market. Increasing investments by vendors in technological advancements coupled with growing number of data centers worldwide further accelerates the adoption of data center power solutions. The Asia Pacific Data Center Power market is expected to grow at a remarkable CAGR during the forecast period owing to increasing adoption of cloud services, and reducing telecom carrier costs. The rising penetration of mobile devices, and technological advancements further support the market growth in the region.
The increasing demand for data center facility owing to generation of large amount of enterprise data, along with rising development of IT infrastructure supports the growth of data center power market. The increasing power consumption by data centers, and shifting trend towards use of modular data centers fuels the growth of the data center power market. The rising demand for high power ratings, and growing applications of virtualization, cloud, and big data analytics further accelerate the adoption of data center power. Other driving factors include increasing adoption of intelligent power management products, growing demand for OTT content services, and increasing number of data centers in developing economies. Increasing demand from emerging regions, and technological advancements are expected to provide numerous growth opportunities to the market players during the forecast period.
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On the basis of product, the global data center power market is segmented into UPS, generators, power distribution units, bus way, and others. In 2018, the UPS segment accounted for the highest market share. The primary function of UPS is to provide backup power during failure of regular power source or voltage fluctuations. The increasing adoption of cloud computing, growth in demand for mobility services, and rising trend of BYOD, IOT and big data analytics supports the growth of this segment. Technological advancements, and increasing number of data centers are factors expected to provide growth opportunities during the forecast period.
The global Data Center Power market is segmented into BFSI, healthcare, retail, IT and telecommunication, energy, and others,on the basis of end-users.The IT and Telecom segment is expected to grow at the highest rate during the forecast period. The increasing development of IT infrastructure, increasing digitization, and growing adoption of cloud computing supports the growth of this segment. The growing demand for edge facilities, and construction of hyper-scale facilities further boost the growth of this segment.
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In 2018, North America dominated the global data center power market owing to established telecommunication infrastructure, presence of key players in the region, and availability of technologically advanced solutions. Increasing need for power management solutions, rising number of data center, and stringent regulations regarding energy consumption supports the growth of data center power market in the region.The Asia-Pacific Data Center Power market is expected to grow at the highest rate during the forecast period owing to the growing penetration of mobile devices, rising demand for cloud services, and reducing telecom carrier costs. The growing number of data centers in countries such as China, Japan, India, and South Korea is expected to drive the market growth over the next few years. The increasing demand for mobility, growing digitization, and rising adoption of cloud technologies has increased the demand for data center power solutions in the region.Government initiatives to control energy consumption and reduce carbon footprint also encourages market players to introduce innovative and effective solutions in the data center power market.
The global Data Center Power market is characterized by the presence of experienced and established players. Some of the key players profiled in the Data Center Power market report include Schneider Electric, Black Box Corporation, Delta Electronic Inc., General Electric, ABB Group, Cyber Power Systems, Inc., Rittal GmbH & Co. KG, Vertiv Co., Tripp Lite, and Generac Power Systems, Inc., among others. These companies are consistently launching new products to cater to the growing consumer demands. Global players are entering new developing economies for expansion of customer base and strengthening market presence.
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