June 22, 2024
ICT

Data Center Power Management Market Size, Trends, Report by 2033

The global data center power management market size accounted for USD 7.12 billion in 2023 and is anticipated to grow to 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.

Data Center Power Management Market Size 2024 to 2033

The Data Center Power Management Market refers to the industry segment that encompasses technologies, solutions, and services aimed at optimizing power consumption and efficiency within data center infrastructures. As the demand for data storage and processing continues to surge globally, data center operators are increasingly focusing on managing power consumption effectively to mitigate costs, improve operational efficiency, and minimize environmental impact. This market encompasses a wide range of solutions, including power distribution units (PDUs), uninterruptible power supplies (UPS), energy management software, cooling systems, and renewable energy integration, among others.

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.

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Growth Factors:

Several factors contribute to the growth of the Data Center Power Management Market. Firstly, the exponential growth of digital data generated by businesses, individuals, and IoT devices drives the expansion of data center infrastructure globally. This proliferation of data necessitates robust power management solutions to ensure uninterrupted operations and optimal resource utilization within data centers. Additionally, rising concerns regarding energy efficiency and sustainability prompt data center operators to adopt advanced power management technologies to reduce their carbon footprint and comply with regulatory standards. Moreover, the increasing adoption of cloud computing, edge computing, and colocation services fuels the demand for efficient power management solutions to support these distributed data center architectures.

Region Insights

The Data Center Power Management Market exhibits a diverse regional landscape characterized by varying levels of technological adoption, regulatory frameworks, and market dynamics. North America dominates the market owing to the presence of a mature IT infrastructure, widespread adoption of cloud services, and stringent energy efficiency regulations. Europe follows closely, driven by initiatives promoting renewable energy usage and sustainable data center practices. The Asia Pacific region emerges as a rapidly growing market, fueled by burgeoning investments in data center infrastructure, particularly in countries like China, India, and Singapore. Additionally, the Middle East and Africa region showcases potential opportunities for market growth, propelled by increasing digitization efforts and investments in data center infrastructure.

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 key drivers propel the expansion of the Data Center Power Management Market. One significant driver is the escalating demand for high-performance computing (HPC) applications across various industries, including healthcare, finance, and research, necessitating efficient power management solutions to support intensive workloads. Moreover, the growing awareness regarding the adverse environmental impact of traditional data center operations drives the adoption of energy-efficient technologies and renewable energy sources. Furthermore, the emergence of artificial intelligence (AI), machine learning (ML), and big data analytics applications necessitates scalable and resilient data center infrastructures supported by robust power management solutions.

Opportunities:

The Data Center Power Management Market presents numerous opportunities for vendors and stakeholders to capitalize on emerging trends and technological advancements. One such opportunity lies in the integration of smart grid technologies and demand response strategies within data center operations to optimize energy consumption, reduce costs, and enhance grid stability. Additionally, the adoption of modular and prefabricated data center designs presents opportunities for deploying efficient power management solutions in rapidly deployable and scalable environments. Furthermore, advancements in power management software, such as predictive analytics and automation, enable proactive maintenance, fault detection, and optimization of energy usage, thereby unlocking new revenue streams for solution providers.

Challenges:

Despite the promising growth prospects, the Data Center Power Management Market faces certain challenges that hinder its widespread adoption and implementation. One significant challenge is the complexity associated with retrofitting existing data center infrastructures with advanced power management solutions, often requiring significant investments and downtime. Moreover, interoperability issues between heterogeneous hardware and software components pose challenges in seamlessly integrating power management systems within diverse data center environments. Additionally, concerns regarding data security and privacy in cloud-based power management solutions impede adoption, particularly in highly regulated industries. Furthermore, the rapid pace of technological evolution and the emergence of new standards and protocols necessitate continuous upgradation and skill enhancement among data center operators and solution providers to remain competitive in the market.

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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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