Data Center Power Management Market Poised for Significant Growth: Projected to Reach $39.9 Billion by 2033

The global data center power management market is anticipated to expand its roots at a CAGR of 7% with a valuation of US$ 20,260.5 million in 2023. The market is slated to reach a estimation of US$ 39,978.8 million by 2033.

It can cost hundreds of thousands or even millions of dollars when a data center is down. The Uptime Institute estimates that nearly 43% of data center failures are caused due to inadequate power supplies. There is an increasing need for more inventive and efficient techniques to monitor power quality throughout the entire power chain of a data center.  The rising power needs, rising power costs, and international measures to reduce carbon footprints are pivotal for data center power management market expansion. A new generation of dependable, intelligent rack power distribution, monitoring, and control solutions is thus more important than ever.

Data center operators use automation and DCIM software to assist clients with restricted access to their facilities and lessen the foot traffic of their staff. A lot of data center owners now control their facilities remotely as well. This led to a strong need for software to manage the infrastructure of data centers. Furthermore, power management companies developed advanced power distribution units that can operate remotely to improve efficiency and reduce the power usage effectiveness (PUE) ratio.

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Gulf nations are digitally modernizing their public and private sectors. The governments of these nations are undertaking several projects to improve the Middle Eastern cloud environment.  Additionally, significant investments are being made in renewable energy sources that generate electricity to power data centers. In Europe and the United States, there has been a rapid increase in the use of sustainable energy sources to power data centers.  In the upcoming years, these initiatives are likely to support market expansion.

Key Takeaways from Data Center Power Management Market:

• In 2018, the global data center power management market size stood at US$ 15,844.6 million.
• Between 2018 and 2022, the market expanded at a CAGR of 4.9%.
• In 2022, the market size stood at US$ 19,222.5 million.
• The modular data centers segment accounted for 24.9% market share in 2022.
• The tier-4 segment captured a 24.9% market share in 2022.
• China accounted for nearly 5.2% of the global market share in 2022.
• The United Kingdom data center power management market garnered a 9.2% market share in 2022.

Recent Developments Observed by FMI:

• A multi-hybrid cloud and edge management platform was introduced by Cognizant in April 2023. “Skygrade” has been introduced to help businesses achieve greater business values through sustainability, rapidity, efficiency, and ease of use.
• In September 2022, Honeywell launched a new suite of solutions. Honeywell Data Center Suite was designed to help optimize data center productivity and uptime.
• Eaton completed the acquisition of Tripp Lite in March 2021 to grow its power business in the United States. The acquisition contributed to the growth of edge computing, the expansion of the single-phase UPS market, the IT product portfolio, and better services for the company’s data center clients.

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