Data Center Power Market to Hit US$ 31.3 Billion(CAGR of 6.1%) During 2023-2028

BROOKLYN, NEW YORK CITY, UNITED STATES, June 27, 2023/EINPresswire.com/ -- According to the latest report by IMARC Group, titled “Data Center Power Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”The global data center power market size reached US$ 21.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028.

Data Center Power Market Overview:

A data center is a specialized facility designed to house and manage a large number of computer systems, network infrastructure, and data storage. It serves as the central hub for storing, processing, managing and distributing vast quantities of digital information. It is a crucial component of modern technology infrastructure, supporting a wide range of applications and services, including cloud computing, online platforms, social media, e-commerce, and enterprise operations. Additionally, it comprises a physical space that houses racks upon racks of servers, networking equipment, and storage systems. These servers are the workhorses that handle computational tasks, process data, and deliver services to end-users. The networking infrastructure facilitates connectivity and data transfer within the data center and to external networks. Storage systems provide the capacity to store vast amounts of data, which may include databases, files, backups, and virtual machine images.

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Global Data Center Power Market Trends:

A considerable rise in data generation across individuals, businesses, and devices majorly drives the global market. This can be supported by the proliferation of smartphones, IoT devices, social media, and cloud computing resulting in an unprecedented surge in data creation, storage, and processing requirements. Therefore, data centers are becoming indispensable in managing and storing this massive volume of information, driving the need for more power. Along with this, the rising demand for real-time data processing and high-performance computing is pushing data centers to enhance their capabilities and is significantly supporting the market. In addition, the growing inclination toward cloud technology among businesses to leverage the benefits of scalability, flexibility, and cost savings is positively influencing the market. Apart from this, governments and regulatory bodies are introducing policies and standards to address energy consumption, emissions, and data security concerns, contributing to the market. Furthermore, the increasing demand for real-time data processing and high-performance computing is creating a positive market outlook.

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Key Market Segmentation:

Top Data Center Power Companies:

• ABB
• Black Box Corporation
• Eaton Corporation
• General Electric
• Legrand SA
• Delta Electronics
• Schneider Electric
• Raritan Corporation
• Cisco Systems
• Vertiv Co.
• Tripp Lite
• Huawei
• Generac Power Systems
• Fujitsu
• Cyber Power Systems
• Server Technology

Breakup by Solution Type:

Power Distribution and Measurement:

• Intelligent PDUs
• Non-Intelligent PDUs
• Monitoring Software

Power Backup:

• UPS Devices
• Generators

Cabling Infrastructure:

• Transfer Switches
• Switchgea

Breakup by Service Type:

• System Integration
• Training and Consulting
• Support and Maintenanc

Breakup by Size:

• Mid-Size Data Center
• Enterprise Data Center
• Large Data Cente

Breakup by Vertical:

• BFSI
• Telecommunication and IT
• Energy
• Manufacturing
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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