Growth Outlook: How COVID-19 change the picture of Data Center Power Market
Pune, New York, USA, November 20 2020 (Wiredrelease) Research Dive :Data center power is a power solution used to increase the efficiency of data centers and manage the power usage effectiveness (PUE). The data center manufacturers are evolving advanced power management solutions, such as battery monitoring equipment, smart UPS, and intelligent rack power distribution unit (PDU) to minimize the overall power consumption rate. Mainly,data centersare comprised of numerous elements, such as power supplies, communication storage equipment, monitoring systems, and heating ventilation air conditioning (HVAC) equipment that offer safe and secure locations for the data equipment.
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COVID-19 Impact on the Global Industry
The global data center power market is anticipated to witness an upsurge in the growth rate during the COVID-19 pandemic. The rapid shift to work from home culture and the consequent demand for SaaS (software as a service) in the pandemic crisis are some of the factors expected to increase the demand for the data centers. Moreover, the emergence of a new business environment amidst the COVID-19 chaos is predicted to escalate the demand for cloud services and digitization, which will subsequently boost the growth of the global data center power market during COVID-19 pandemic.
Furthermore, the key players operating in the global data center power market are helping other businesses such as food beverages, automotive, retail, semi-conductor, and others to sustain in the COVID-19 crisis. For instance, in September 2020, an innovation leader in technology platform, INVITE Systems teamed up with Huawei in Romania to install ahighly reliable data centerfor fulfilling the requirements of the enterprise.
Key Developments in the Global Market
The key industry players are implementing various business tactics growth strategies such as technological advancements, partnerships, and introducing innovative solutions in the market to maintain a robust position in the overall market, which is subsequently helping the data center power market to grow at a robust pace.
For instance, in March 2018, Cyber Power Systems, Inc. launched a new software namely Power Panel for its UPS system that enable users in remotely monitoring UPS with serial port number. This software also allow users control the unwatched computer shutdowns.
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In June 2019, Schneider Electric and Green Mountain AS announced3MW data center capacityat the DC2-Telemark site. The aim of the companies was to meet the requirement of the customers and achieve rapid deployment at the brown field development.
In February 2020, ABB Group introduced an innovative switchgear namely NeoGear. With NeoGear, the company introduced a laminated bus plate technology for low-voltage switchgears. With the digital capabilities and the combined connectivity of the ABB Ability platform, the novel switchgear offers maximum safety, more flexibility, highest reliability, and better efficiency.
Forecast Analysis of Data Center Power Market
Global data center power market is anticipated to observe a strong growth over the forecast period due to the growing adoption of data centers by various companies across the globe to maintain its business continuity. In addition, the governments across the developing countries such as China, India are working on a policy to establish solar-powered data centers, which is expected to create opportunities for the global market growth by 2027. However, the higher installation costs associated with data centers is likely to hinder the market growth in the near future.
The increasing growth in IT infrastructure and the growing demand for cloud storage across the globe are the major factors estimated to propel the growth of the global data center power market by 2027. Research Dive in its latest published report predicts that the data center power market will generate $56,626.5 million during the forecast period by 2027. The Europe region is anticipated to subjugate the global market throughout the forecast, owing to the huge growth in cloud computing big data analytics and the substantial expansion of mobile broadband in the region. The key players functioning in the global industry include ABB, Vertiv Group Corp., Eaton, General Electric, Anord Mardix, Schneider Electric, ZincFive, Inc., Mitsubishi Electric Corporation, Siemens, and Cisco Systems, Inc.
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