Remote Power Panel Market New Revenue Pockets:
The global remote power panel market is projected to reach USD 1.4 billion by 2028 from an estimated USD 1.1 billion in 2023, at a CAGR of 4.8% during the forecast period. Remote power panels play an important role in data centers by providing power distribution and monitoring capabilities. These data centers typically feature remote power panels that can be easily configured and monitored from a central location. This allows organizations to quickly and easily scale their IT infrastructure to meet ever-changing demand while also reducing the cost and complexity of managing their data centers.
Key Market Players
The major players in the remote power panel market are Schneider Electric (France), ABB (Switzerland), Toshiba International Corporation (Japan), Vertiv Group Corporation (US), and Socomec (France).
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Some key trends in such as the growing number of hyperscale, edge computing, and modular data centers drive the market for remote power panels with the rising need for effective power distribution. As privatization of the industrial sector increases, investments in data centers are also surging in the region. Power distribution units are solutions for continuous power supply to firms. Such factors drive the remote power panel market.
This report segments the remote power panel market based on type into two types: wall-mounted, floor-standing. By Type, Wall-mounted is the second largest segment in the remote power panel market. Wall-mounted panels can be mounted flush with the wall, making them less intrusive and more aesthetically pleasing than floor-mounted panels. Wall-mounted panels are commonly used in network cabinets and server rooms to distribute power to equipment. These features are driving the segment.
This report segments the remote power panel market based on application into three segments: data centers, server rooms, and network cabinets. Data centers is expected to be the fastest growing segment in the market. Remote power panels can be integrated with power management software, which enables remote monitoring and control of power usage. This allows data centers to optimize energy usage and reduce costs by identifying underutilized devices or identifying areas where power usage can be reduced.
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Middle East & Africa is expected to be the second-fastest growing region in the remote power panel market between 2023–2028, preceded by the Asia Pacific, and followed by South America. Rising investments in hyperscale and colocation data center infrastructure and enhanced adoption of cloud computing and digitalization are the key factors fostering the growth of the remote power panel market in the Middle East & Africa.