The demand for data storage and its secure and efficient processing is continuously proliferating, resulting in significant growth in the need for data center capacity expansion. To accommodate this enormous information, companies are compelled to either build new data centers or expand the capacity of their existing data centers. However, to support increment in the data center capacity, huge amount of energy is required. Power contributes to almost half of the total cost associated with a data center, and as a result companies have developed innovative and efficient data center power solutions. Efficient power solutions like modular UPS help the data center managers in reducing their data center expenditure, and the Total Cost of Ownership (TCO).
With continuously escalating need for data storage, the demand for efficient data center power solutions is expected to grow at a healthy rate in the coming years, according to the newly released report „Data Center Power Market by Solutions (Distribution, Measurement/Monitoring, UPS, Generator, Storage, Cabling Infrastructure), by Services (Consulting, Integration, Professional), by Verticals & Regions – Market Forecasts and Analysis (2014 – 2019)“.
Inspite of decline in the utilization of traditional power solutions, the data center power market is estimated to grow considerably in the coming years, due to adoption of energy efficient power technologies. Major players in the data center power market are Emerson Network Power, Schneider, Eaton, and ABB. The data center power market research report discusses the strategies and insights of the key vendors in the industry and also provides in-depth study of driving forces and challenges for the data center power market.
The report also analyzes global trends and future growth potentials across different regions. MarketsandMarkets has segmented the global data center power market by solution, deployment size, industry vertical, and geographical region. The report also consists of MarketsandMarkets views of the key players and analysts insights on various developments that are taking place in the data center power market space.The report forecasts the global data center power market to grow from $15.19 billion in 2014 to $23.67 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 9.3%.
The market has also been segmented into various industry verticals including telecom and Information Technology (IT), Banking, Financial Services, and Insurance (BFSI), government, healthcare, energy, and other verticals. In terms of end user type, the data center power market is segmented into cloud providers, colocation provider, and enterprise. North America is expected to remain the major contributor by 2019. However, Asia-Pacific and Latin America are also expected to emerge as major regions in terms of market size in the next five years, due to rising data center demand. The telecommunication and IT, and BFSI verticals are expected to hold major share in the total revenue generated in the data center power market.
Find out more about the report after the following link.