The Data Center Power Market offers power to the data center infrastructure, which consists of switch gear, switch board, and panel board for transmitting electricity to the IT hardware of the data center. The data center components, such as utility grid, Automatic Transfer Switch (ATS), Uninterrupted Power Supply (UPS), Power Distribution Unit (PDU), IT equipment, backup generators, and cooling equipment need monitoring and managing the power to enhance the business performance and continuity. The global data center power market is estimated to grow from USD 13.54 billion in 2016 to USD 21.73 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 9.92% during the forecast period. Factors such as growing concern of the data center providers to optimize the operational cost by reducing the cost of data center power is driving the growth of the global data center market.
To achieve better power solutions, the data centers are implementing advanced in technology. The conventional architecture of data center power supply is replaced with numerous energy-efficient solutions. The traditional data center power solution had a very low efficiency due to the outdated energy conversion techniques where overloading, downtime, and system failure occur frequently, thus leading to an increase in operational cost, which hinders the growth of business continuity. To avoid these problems, data center providers introduced power solutions by bringing advancements in technology.
The power distribution and measurement segment is expected to grow at the highest rate during the forecast period. The growing concern regarding the increasing cost of energy made the enterprises to adopt intelligent Power Distribution Units (iPDU) and measurement solutions to monitor data center power consumption. These benefits increased the unit shipments of power distribution and measurement components by the data center providers globally.
The support and maintenance service segment is expected to grow at the highest CAGR during the forecast period. Support and maintenance services are provided by many companies that help in providing optimized data center power solutions, which, in turn, help the data center managers to overcome the complexities in setting up efficient power facilities. These services help in planning, designing, building, and maintaining the IT infrastructure, which ensure effective data center designs and installations to meet the enterprise requirements, thus gaining data center efficiency.
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The medium-sized data center is expected to gain the highest traction in the data center power market during the forecast period. The medium-sized data center is growing due to its large-scale adoption by small and medium-sized enterprises, which have limited budgets to spend on upgrading data center infrastructure. With rise in the use of medium-sized data centers, the data center power market is expected to increase its growth as power is the only solution to keep the data center that offers business continuity.
The research and academia vertical is expected to grow at the highest CAGR during the forecast period. The emergence of modern smart education system and e-learning require huge data storage. The top universities, colleges, and research institutions are using data center to enhance its efficiency and decrease cost. The universities and colleges are, therefore, adopting high-performance computing and IT infrastructure, which is resulting in the rise of collaborations with data center service providers for data storage. The rise in smart education system and online education is expected to boost the data center power market in the future.
The Asia-Pacific (APAC) region is in its initial growth phase; however, it is the fastest growing region in the global data center power market. The key reasons for the high growth rate in the APAC region are increasing data center construction, increasing data storage demand due to the rise in cloud-based applications, growing economy, and government support for data center construction. This region offers potential growth opportunities due to improvements in infrastructure, business strategic moves, and emergence of new technologies combined with growing business needs.
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