Press release
Data Center Power Management Market Outlook and Analysis 2024-2033
Data Center Power Management Market
The data center power management market size is expected to see strong growth in the next few years. It will grow to $30.4 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to continued growth of cloud services, rising demand for edge computing, increasing complexity in data center infrastructure, focus on renewable energy sources, escalating importance of data security. Major trends in the forecast period include adoption of modular data center designs, increased use of liquid cooling solutions, integration of ai and machine learning for power management, emphasis on sustainable and green data centers, development of energy-efficient hardware components.
Market Overview -
Data center power management refers to the strategies, processes, and tools used to manage and optimize power generation, consumption, and efficiency within a data center facility. It is used to provide administrative control over a data center's electrical energy tools and processes.
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Surge In Data Traffic Fuels Expansion Of The Data Center Power Management Market
Increasing data traffic is expected to boost the growth of the data center power management market going forward. Data traffic refers to the movement of digital data packets across a computer network or the internet. Power management is necessary for data centers to manage the data traffic and guarantee the dependability and accessibility of data center services while lowering energy usage and costs. For instance, in 2021, according to the World Bank, a US-based financial institution, the total global internet traffic increased by about 50% 2022 from 2020 levels, reaching 4.8 zettabytes, equal to 150,000 GB per second. Therefore, increasing data traffic is driving the growth of the data center power management market.
Competitive Landscape -
Major companies operating in the data center power management market report are Huawei Technologies Co. Ltd., Siemens AG, General Electric Company, Schneider Electric SE, ABB Ltd., Hewlett Packard Enterprise, Cummins Inc., Eaton Corporation, Emerson Electric Co., Legrand SA, Kohler Co., Vertiv Group Corp., Generac Power Systems Inc., Aggreko Ltd., Delta Electronics Inc., Panduit Corp., Socomec, Cyber Power Systems Inc., Toshiba Electronic Devices & Storage Corporation, DataSpan Holdings, Server Technology Inc., Chatsworth Products Inc., ZPE Systems Inc., Sunbird Software Inc., Enlogic, Raritan Inc.
Innovating Power Solution In Data Center Power Management
Product innovation is the key trend gaining popularity in the data center power management market. Major companies operating in the data center power management market are focusing on developing new products to sustain their position in the market. For instance, in June 2021, Eaton, a US-based power management company, launched the iCube 2.0 and the 9PX lithium-ion UPS power supply series. The unique feature of iCube 2.0 and 9PX Lithium-ion UPS is the ability to satisfy the demand for quick and sustainable computing capability while ensuring energy efficiency. The Eaton Intelligent Power Manager, included with the 9PX Li-ion UPS, enables advanced load-shedding capabilities to power crucial operational loads for extended periods and allows deep integration with VMware and HyperV virtual environments. This software enhances infrastructure resilience against unfavorable power and environmental events through disaster recovery automation.
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Key Segments -
The data center power management market covered in this report is segmented -
1) By Component: Hardware, DCIM (Data Center Infrastructure Management) Software, Services
2) By Data Center Type: Modular Data Centers, Colocation Data Centers, Cloud Data Centers, Edge Data Centers, Hyperscale Data Center, Micro Mobile Data Centers
3) By Installation Type: New Installation, Retrofit Or Upgrade
4) By Industry: Banking, Financial Services And Insurance(BFSI), Healthcare, Manufacturing, IT And Telecom, Media And Entertainment, Retail, Government, Other Industries
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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