The development of the global data center power market is estimated to be driven by rising number of new data centers across the globe. There has been a surging demand for proper storage of data by several organizations across the globe, which drives the demand for data centers. The phenomenal rise in the consumption of power by these countless data centers has increased the cost of operation and power, which has become a challenge for several end users to conserve and manage power in data centers. As such, the IT professionals and data center managers are emphasizing on the implementation of effective and efficient data center power solutions so as to assure continuity of business.
Product, end use, and region are the three important parameters based on which the global data center power market has been categorized.
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Data Center Power Market: Notable Developments
- In 2018, Facebook Inc set up a hyperscale data center in Singapore and this center is completely supported by renewable energy. Integration with the State Point Liquid Cooling system assists in diminishing the water and power consumption.
Some well-known organizations in the global data center power market include the below-mentioned:
- Emerson Network Power
- Toshiba Corporation
- Eaton Corporation
- Toshiba Corporation
- Schneider Electric S.A.
Data Center Power Market: Key Trends
The global data center power market is characterized by the presence of the following restraints, drivers, and opportunities.
Rising Number of Data Centers to Drive Demand in the Market
With the increasing use of social media and rapid adoption of various mobile and online computing services by several companies, the demand for large amount of data storage devices arises. As such, many companies are outsourcing their computational jobs to cloud-based infrastructure.
Cloud computing services need very high computational capacities and it offers advantages like scalability, efficiency, and flexibility. Many small scale businesses as well as large enterprises are making a shift toward co-location facilities. This shift toward such facilities have huge energy requirement during the time when colossal amount of data needs to be processed. This demands for use of efficient power management, which is likely to drive the expansion of the global data center power market over the period of assessment, 2024 to 2030.
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Global Data Center Power Market: Geographical Analysis
Driven by the presence of countless data centers and high implementation of these centers across various verticals propel growth of the North America data center power market. Asia Pacific is likely to emerge as another rapidly growing
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