Data Center Power Market Is Projected To Reach $33,380.1 Million by 2030, says P&S Intelligence

NEW YORK, May 12, 2022 /PRNewswire/ -- According to the market research study published by P&S Intelligence, the global data center power market accounted for revenue of $19,555.1 million in 2021, which is expected to reach $33,380.1 million by 2030, growing at a CAGR of 6.1% between 2021 and 2030. Huge amounts of data are produced from personal records, networking equipment, usage of mobile internet, billing activities, and social networks. This information is used by companies to enhance their products and services, increase profitability, and maintain relations with customers.

To stay ahead of their competitors, major players in the data center power market have been involved in client win strategies, seeing the vast potential increase in the number of data centers across the globe. Market players include Legrand SA, Delta Electronics Inc., Schneider Electric SE, Cisco Technology Inc., Fujitsu Ltd., Eaton Corporation, Toshiba Corporation, ABB Ltd., and Vertiv Co.

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Key Findings of Data Center Power Market Report

• The Malaysian government intends to invest around $13 billion (RM 56 billion) in infrastructure for faster internet access, as part of a 10-year strategy to promote the country's digital economy.
• Similarly, India's Ministry of Electronics and Information Technology announced in September 2020 that it is trying to advance the digital economy's contribution to 20% of the GDP in the coming five years.
• 5G networks are expected to play a key role in supporting policymakers and governments in converting cities into smart cities, thus allowing residents to participate and understand the socioeconomic benefits of an advanced, digital economy.
• North America accounted for the largest revenue share in the data center power market in 2021. This is attributed to the region's significant investment in research and development, which is leading to the construction of next-generation facilities that are more efficient and technologically advanced in power management.
• Around 64.2 zettabytes of data were created in 2020, up 314% from 2015. Every day, 2.5 quintillion bytes of data are created worldwide. About 90% of the globe's data was produced in the previous four to five years, due to the broad usage of social media platforms and the introduction of IoT.
• Large data centers rely on UPS systems to keep running and secure key equipment across the facility. They have different configurations and dual-bus capability to keep the important systems running during blackouts.

In 2021, the tier III & tier IV category dominated the data center power market with over 90% revenue share, and this trend is expected to continue in the coming years. This is partly because power equipment designed for tier III and IV data centers provide 2N and N+1 redundancy, which means the architecture can support the IT load, while also containing extra components for power backup, guaranteeing that the performance is not impaired if a single component fails.