Data Centre Power Market Analysis: Trends, Size, Share, and Growth Perspective

Data Centre Power Market Analysis: Trends, Size, Share, and Growth Perspective

The global data centre power market is witnessing remarkable growth, driven by the escalating adoption of cloud computing and the ever-increasing demand for data storage and processing capabilities. While factors like location, security, and support have long been considered when selecting data centre facilities or colocation providers, power has emerged as a crucial and often underestimated criterion in the evaluation process.

Power is the lifeblood of data centres, ensuring the continuous operation of critical IT infrastructure, even in the face of disruptions. Furthermore, power consumption plays a pivotal role in determining the cost of colocation services. With the surge in cloud data storage demands, data centre numbers worldwide have proliferated, resulting in a substantial surge in energy consumption. This surge, in turn, is the driving force behind the robust growth of the global data centre power market.

Innovative technologies designed to reduce power consumption, coupled with the emergence of modular data centres, are set to further bolster the expansion of the data centre power market. The increasing adoption of software as a service (SaaS) and the mainstreaming of remote work culture offer additional growth prospects.

According to Cisco, data centre traffic in 2021 was on a rapid ascent, projected to reach a staggering 19.5 zettabytes (ZB) per year. This surge is attributed to the proliferation of Internet of Things (IoT) applications, such as smart cars, smart cities, and connected health devices. Leading cloud providers like Microsoft Azure, Amazon Web Services (AWS), and Google are aggressively investing in hyperscale agreements to enhance their storage capacity and propel the global data centre power market forward.

For instance, AWS recently announced the establishment of data centres in Israel, aimed at empowering developers, start-ups, corporations, governments, institutions, and non-profits in the region. Similarly, corporations worldwide are eyeing data centre expansion in various countries. Australian real-estate giant Stockland is slated to construct a new AUD 264 million data centre in Sydney, marking significant advances in the data centre industry.

Increased Utilization of Large Data Centres to Drive Market Growth

During the forecast period, large data centres, defined by their area of over 25,000 square feet and high-density server racks, are expected to dominate the market. These data centres leverage energy-efficient equipment like Computer Room Air Handlers (CRAH) and Precision Air Handling Units (PAHU) and boast advanced power distribution units (PDUs) for enhanced efficiency and loss monitoring. Large data centres cater to the needs of large organizations with high-density cloud computing systems, offering reliable power supply to private and hybrid cloud platforms. This adoption trend is poised to fuel the global data centre power markets growth.

Rapid Adoption of Modern Technologies in Asia Pacific

Asia-Pacific is emerging as a significant growth hotspot for the data centre power market, driven by the swift adoption of modern technologies such as 5G, big data, IoT, and cloud computing. The region is witnessing a surge in new data centre construction projects, responding to increased online activities, including shopping, social events, online education, and remote work, intensified by the pandemic. Countries like Japan, China, and Australia are taking the lead in building massive data centres, while simultaneously transitioning toward clean and renewable energy sources to power these facilities. The growth in data centre development expenditure further augments the demand for data centre power solutions.

For instance, Apple recently inaugurated a new data centre in Guizhou, China, highlighting the collaboration between Apple and Guizhou-Cloud Big Data Industry Co. Ltd. Such initiatives are expected to elevate the demand for data centre power solutions, fortifying the performance of the data centre power market.

Global Data Centre Power Market: Competitive Landscape

Several prominent players in the data centre power market are contributing to its rapid expansion. Notable companies include Schneider Electric, Tripp Lite, Toshiba, Siemens, Mitsubishi Electric, Cisco, Kehua Tech, Socomec, Rittal, Cyber Power Systems, Vertiv, ABB, Eaton, Delta Electronics, Huawei, Legrand, PDU Experts, Anord Mardix, Raman Power Technologies, N1 Critical Technologies, Critical Power, bXterra Power Technology, ZincFive, ZRGP, and Hardy Racks.

The data centre power market is experiencing dynamic growth, driven by the evolving digital landscape and the imperative to meet the escalating demands for data storage and processing capabilities. With the industry poised for further expansion, innovation and competition among key players are expected to intensify, ultimately benefiting businesses and organizations worldwide.

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/data-centre-power-market

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