June 19, 2024

Data Center Power Management Market Size, Growth Report by 2033

The global data center power management market size surpassed 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 encompasses solutions and technologies aimed at optimizing power usage, improving energy efficiency, and ensuring reliable power distribution within data centers. As the demand for data storage, processing, and management continues to surge due to the proliferation of digital technologies and the exponential growth of data, data center operators face increasing challenges related to power consumption, heat dissipation, and operational costs. In response to these challenges, the adoption of advanced power management solutions has become imperative for data center operators to enhance performance, minimize downtime, and reduce environmental impact.

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.

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Growth Factors:

Several factors are driving the growth of the data center power management market. Firstly, the rapid expansion of cloud computing, big data analytics, and Internet of Things (IoT) applications has led to the proliferation of data centers worldwide, thereby increasing the demand for efficient power management solutions. Additionally, the escalating cost of energy and the growing awareness of environmental sustainability have prompted data center operators to invest in energy-efficient technologies and renewable energy sources. Moreover, the rising need for uninterrupted power supply (UPS) solutions to mitigate the risk of downtime and data loss further fuels market growth.

Region Insights:

The data center power management market exhibits significant regional variations driven by factors such as technological advancements, regulatory frameworks, and infrastructure development. North America, being a hub for technology innovation and home to numerous hyperscale data centers, dominates the market share. Europe follows closely, driven by stringent regulations promoting energy efficiency and renewable energy adoption. Asia-Pacific is poised for substantial growth, fueled by the rapid digital transformation in emerging economies like China, India, and Southeast Asian countries.

Data Center Power Management Market Scope

Report CoverageDetails
Growth Rate from 2024 to 2033CAGR of 7.15%
Global Market Size in 2023USD 7.12 Billion
Global Market Size by 2033USD 14.20 Billion
U.S. Market Size in 2023USD 1.92 Billion
U.S. Market Size by 2033USD 3.83 Billion
Base Year2023
Forecast Period2024 to 2033
Segments CoveredBy Component, By Data Center Size, and By Application
Regions CoveredNorth America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Data Center Power Management Market Dynamics

Drivers:

Several drivers contribute to the expansion of the data center power management market. The increasing demand for cloud services and the proliferation of edge computing drive the deployment of data centers, thereby boosting the demand for power management solutions. Furthermore, the advent of artificial intelligence (AI) and machine learning (ML) in data center operations enables predictive maintenance and optimization of power usage, driving market growth. Additionally, government initiatives and incentives aimed at promoting energy efficiency and sustainability propel the adoption of advanced power management technologies.

Opportunities:

The data center power management market offers lucrative opportunities for vendors and service providers. With the rising emphasis on energy efficiency and sustainability, there is a growing demand for innovative solutions that enable real-time monitoring, analytics, and optimization of power usage within data centers. Moreover, the integration of renewable energy sources such as solar and wind power presents new avenues for market expansion. Furthermore, the emergence of modular data center designs and the adoption of colocation and hyperscale data center models create opportunities for customized power management solutions tailored to specific requirements.

Challenges:

Despite significant growth prospects, the data center power management market faces several challenges. One major challenge is the complexity of integrating diverse power management solutions with existing infrastructure while ensuring seamless operation and compatibility. Moreover, the high initial investment required for deploying advanced power management technologies poses a barrier to adoption, particularly for small and medium-sized data centers. Additionally, concerns regarding data security and reliability remain significant challenges, as any disruption in power supply can result in downtime and potential data loss, necessitating robust backup and redundancy measures.

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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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