by The global data center power management market size was estimated at USD 7.12 billion in 2023 and is projected to attain around USD 14.20 billion by 2033, growing at a CAGR of 7.15% from 2024 to 2033.
Key Points
- North America contributed 36% of market share in 2023.
- Asia-Pacific is estimated to expand the fastest CAGR between 2024 and 2033.
- By component, the solution segment held the largest market share in 2023.
- By component, the service segment is anticipated to grow at a remarkable CAGR between 2024 and 2033.
- By data center size, the small data center segment generated the largest market share in 2023.
- By data center size, the large data center segment is expected to expand at the fastest CAGR over the projected period.
- By application, the IT & telecom segment has contributed the major market share in 2023.
- By application, the healthcare segment is expected to expand at the fastest CAGR over the projected period.
The Data Center Power Management Market encompasses a wide array of technologies and solutions aimed at optimizing the power consumption and efficiency of data centers. As the demand for data storage, processing, and management continues to surge globally, data center operators are increasingly focusing on enhancing power management strategies to minimize operational costs, reduce environmental impact, and ensure uninterrupted service delivery. This market segment is characterized by a diverse range of products and services designed to monitor, control, and optimize power usage within data center facilities.
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Data Center Power Management Market Data and Statistics
- According to the U.S. Department of Energy, data centers account for about 2% of the country’s total electricity consumption, highlighting the need for energy-efficient power management solutions.
- The World Economic Forum predicts that data volume will surge in the upcoming years, projected to hit 463 exabytes by 2025.
- GSMA anticipates a continuous rise in Internet of Things (IoT) connections from 2020 to 2030, with an estimated total of 24 billion enterprise IoT connections by 2030. This growth, coupled with the expansion of social media, is exponentially increasing the global data generation and storage.
- In July 2023, ABB India’s Electrification business introduced groundbreaking UPS solutions tailored for data centers. This innovative UPS, a pioneer in sustainability, forms part of the ABB EcoSolutions portfolio and aligns with ABB’s circularity framework.
Growth Factors:
Several factors are driving the growth of the Data Center Power Management Market. One key factor is the exponential growth of data generated by various industries, including telecommunications, healthcare, finance, and e-commerce. This surge in data creation has necessitated the expansion of data center infrastructure worldwide, leading to increased demand for power management solutions. Additionally, the growing adoption of cloud computing, big data analytics, and IoT (Internet of Things) applications has further propelled the demand for efficient power management solutions within data centers.
Region Insights:
The Data Center Power Management Market exhibits a global presence, with significant activity observed across various regions. North America, particularly the United States, has historically been a dominant player in this market, owing to the presence of numerous large-scale data centers operated by tech giants and enterprises. Europe and Asia Pacific regions are also witnessing substantial growth, fueled by increasing investments in data center infrastructure and rising adoption of cloud services. Emerging markets in Latin America and the Middle East are expected to contribute to the market’s growth as businesses in these regions digitize their operations.
Data Center Power Management Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 7.15% |
| Global Market Size in 2023 | USD 7.12 Billion |
| Global Market Size by 2033 | USD 14.20 Billion |
| U.S. Market Size in 2023 | USD 1.92 Billion |
| U.S. Market Size by 2033 | USD 3.83 Billion |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Component, By Data Center Size, and By Application |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Data Center Power Management Market Dynamics
Drivers:
Several drivers are fueling the expansion of the Data Center Power Management Market. One significant driver is the increasing emphasis on energy efficiency and sustainability initiatives by governments and regulatory bodies worldwide. Data center operators are under pressure to reduce their carbon footprint and adhere to stringent environmental regulations, driving the adoption of energy-efficient power management solutions. Furthermore, rising electricity costs and the need to optimize operational expenses are prompting organizations to invest in technologies that can effectively manage power consumption and reduce utility bills.
Opportunities:
The Data Center Power Management Market presents lucrative opportunities for solution providers and vendors. With the proliferation of edge computing and the deployment of data centers in remote locations to support emerging technologies such as 5G and IoT, there is a growing demand for power management solutions tailored to decentralized infrastructure. Moreover, advancements in AI (Artificial Intelligence) and machine learning technologies are enabling predictive analytics and proactive maintenance capabilities within power management systems, opening up new avenues for innovation and differentiation in the market.
Challenges:
Despite the promising growth prospects, the Data Center Power Management Market faces several challenges. Interoperability issues between different power management systems and legacy infrastructure pose integration challenges for data center operators. Additionally, the complexity of modern data center environments, characterized by heterogeneous hardware and software components, complicates the implementation of comprehensive power management strategies. Security concerns surrounding remote monitoring and control of critical power infrastructure also present significant challenges for stakeholders in the market. Furthermore, the upfront capital investment required for deploying advanced power management solutions may deter small and medium-sized enterprises from adopting these technologies.
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Recent Developments
- In October 2023, ABB Ltd disclosed its collaboration with ZincFive, welcoming them as an authorized supplier for its UPS systems. ZincFive’s nickel-zinc battery option joins the existing lithium-ion and lead-acid offerings, now integrated and supported within ABB’s uninterruptible power supply system.
- Also in October 2023, Vertiv initiated a partnership with American Electric Power (AEP) and inaugurated the Vertiv Customer Experience Center. This center showcases a microgrid power solution aimed at aiding data centers in tackling challenges related to electrical grid capacity. The Vertiv microgrid, with a capacity of 1.0 megawatt (MW), comprises an Uninterruptible Power Supply (UPS) system, lithium-ion battery, system controls, and other crucial components, catering to customers exploring the potential of microgrids and energy storage systems for their mission-critical power systems.
- In November 2023, Vertiv introduced the Vertiv SmartMod Max CW, a prefabricated modular data center tailored to meet escalating demands. This solution accommodates up to 200kW of total IT load in a single system, offering a variety of customization options including power capacities, rack quantities and sizes, and module dimensions. The Vertiv SmartMod Max CW integrates the Vertiv Liebert EXM uninterruptible power supply (UPS) system in power ratings of 100 kW, 150 kW, and 200 kW, along with thermal management units equipped with intelligent controls, empowering small-scale operations such as edge data centers to fulfill their specific needs.
- In October 2023, ABB unveiled the ABB TruFit power distribution unit, an all-in-one solution designed to address the mounting demands of rapidly approaching data center project timelines. With flexibility ranging from 50 to 800 kVA, TruFit offers outstanding configurability, reliability, and safety features at the system level.
Data Center Power Management Market Companies
- Schneider Electric SE
- ABB Ltd
- Eaton Corporation
- Vertiv Group Corp
- Delta Electronics, Inc.
- Huawei Technologies Co., Ltd.
- General Electric Company
- Legrand SA
- Raritan Inc.
- Cyber Power Systems (USA), Inc.
- Tripp Lite
- Socomec Group
- Vertiv Co.
- Emerson Electric Co.
- Mitsubishi Electric Corporation
Segments Covered in the Report
By Component
- Solution
- Service
By Data Center Size
- Small Data Center
- Medium Data Center
- Large Data Center
By Application
- BFSI
- Colocation
- Energy
- Government
- Healthcare
- Manufacturing
- IT & telecom
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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