April 18, 2024
ICT

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

The global data center power management market size reached USD 7.12 billion in 2023 and is anticipated to hit 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 dedicated to the management and optimization of power consumption and distribution within data centers. As the demand for data storage, processing, and management continues to surge due to the proliferation of digital technologies, data centers play a critical role in supporting various industries and applications. Effective power management solutions are essential to ensure the reliability, efficiency, and sustainability of data center operations.

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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 contribute to the growth of the Data Center Power Management Market. Firstly, the exponential growth of data generated by businesses, individuals, and IoT devices necessitates the expansion of data center infrastructure, thereby driving the demand for power management solutions. Additionally, increasing awareness regarding energy efficiency and sustainability encourages data center operators to invest in advanced power management technologies to reduce carbon footprint and operational costs. Moreover, the rising adoption of cloud computing and virtualization technologies amplifies the need for efficient power distribution and utilization in data centers, fostering market growth.

Region Insights:

The Data Center Power Management Market exhibits significant regional variations influenced by factors such as technological advancements, regulatory frameworks, and economic conditions. North America dominates the market due to the presence of major technology companies, extensive data center infrastructure, and early adoption of advanced power management solutions. Europe follows closely, driven by stringent regulations promoting energy efficiency and sustainability. Meanwhile, the Asia Pacific region emerges as a lucrative market propelled by rapid industrialization, urbanization, and increasing investments in data center infrastructure across emerging economies like China, India, and Southeast Asian countries.

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 fuel the growth of the Data Center Power Management Market. The escalating demand for data-driven applications and services across various industries, including healthcare, finance, retail, and manufacturing, creates a pressing need for efficient data center power management solutions. Furthermore, the proliferation of edge computing and IoT devices intensifies the demand for localized data processing and storage facilities, driving investments in edge data centers equipped with advanced power management capabilities. Moreover, the advent of 5G technology and the Internet of Things (IoT) accelerates data traffic and necessitates robust power management solutions to support high-speed, low-latency connectivity.

Opportunities:

The Data Center Power Management Market presents ample opportunities for innovation and growth. Advancements in renewable energy sources, such as solar and wind power, offer the potential for sustainable data center operations and reduced dependence on traditional energy grids. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) algorithms enables predictive analytics and proactive management of power consumption, optimizing efficiency and reducing downtime. Furthermore, partnerships and collaborations between technology vendors, energy providers, and data center operators facilitate the development of comprehensive, integrated power management solutions tailored to specific industry needs.

Challenges:

Despite its promising growth prospects, the Data Center Power Management Market faces several challenges. One of the primary challenges is the complexity of integrating diverse power management technologies and solutions into existing data center infrastructure, requiring substantial investments in upgrading equipment and systems. Moreover, ensuring compatibility and interoperability among different vendors’ products poses interoperability issues and increases deployment complexity. Additionally, cybersecurity threats targeting data center infrastructure and power management systems pose significant risks to data integrity, operational continuity, and regulatory compliance, necessitating robust cybersecurity measures and protocols. Furthermore, regulatory uncertainty and evolving compliance requirements regarding energy efficiency and environmental sustainability pose challenges for data center operators seeking to align with regulatory standards while optimizing operational performance.

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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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