PUNE, India, January 16, 2017 /PRNewswire/ --
According to a new market research report "Data Center Power Market by Solution (Power Distribution & Measurement, Power Backup, Cabling Infrastructure), Service (System Integration, Training & Consulting, Support & Maintenance), End-User Type, Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the market size 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.
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The demand for Data Center Power Market is driven by factors such as the need for cost optimization of data center in terms of operational expenses, anomalies in power supply through uninterruptible power supply (UPS) system, and rise in digitization & cloud computing. With the increase in data center construction, the Data Center Power Market is expected to gain major traction during the forecast period.
Power backup of solution segment is expected to contribute to the largest market share
The power backup of solution segment supply power to data centers during critical environments, such as utility outage or unplanned downtime. The major factors that have been driving the adoption of power backup to data center are rising power outages due to environmental problems or mechanical problems and rising construction of data centers due to increase in demand for data storage. The power backup of solution segment provides power to data center during utility failure or downtime to execute the business functions and enhance the performance of businesses.
Support and maintenance service is projected to grow at the highest rate during the forecast period
The support and maintenance of service segment is expected to grow at the highest rate during the forecast period due to the introduction of preventive maintenance and condition-based maintenance system. The preventive maintenance inspects and detects the potential vulnerabilities of hardware and software that may lead to power failure of the data center. The condition-based maintenance system inspects the condition of the IT components, servers, generators, breaker panels, cleaning of air or water filters, and updating of physical infrastructure with the latest firmware. The mid-sized data centers, enterprise data centers, and large data centers are rapidly adopting these support and maintenance systems to increase the data center performance for the continuity of business and management of business-critical data, which is expected to drive the growth.
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North America is expected to contribute to the largest market share; Asia-Pacific to grow at the highest rate
North America is expected to hold the largest market share and dominate the Data Center Power Market from 2016 to 2021, owing to the availability of large number of data centers, large investments in data centers, large adoption of data centers by the verticals, rise in energy cost, and presence of a large number of players in this region. The Asia-Pacific (APAC) region is in its initial growth phase; however, it is the fastest growing region for the global Data Center Power Market. The key reasons for the high growth rate in APAC are increasing data center construction, increasing data storage demand due to rise in cloud-based applications, growing IT & telecom services, penetration of internet, growing economy, and government support for the data center construction.
The major vendors providing data center power are ABB (Zurich, Switzerland), Emerson Electric Company (Missouri, U.S.), Schneider Electric (Rueil-Malmaison Cedex, France), General Electric (New York, U.S.), Eaton (Dublin, Republic of Ireland), Delta Power Solutions (Taipei, Taiwan), Raritan Inc. (New Jersey, U.S.), Rittal GmbH & Co. KG (Illinois, U.S.), Server Technology, Inc. (Nevada, U.S.), Tripp Lite (Illinois, U.S.), CyberPower System (Taipei, Taiwan), Black Box Corporation (Pennsylvania, U.S.), Caterpillar Inc. (California, U.S.), and HP Enterprise Company (California, U.S.).
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