The global data centre power market is expected to reach $15,01-billion by 2030 – with a CAGR of 8,1% from 2024 to 2030 – according to a new study by Grand View Research.
The factor driving the market growth is the shift in focus of end users towards co-location and hyperscale data centres. In addition, increasing establishment of such data facility centres is expected to increase demand for data centre power equipment over the forecast period.
Covid-19 has significantly impacted the data centre power industry.
The rapid growth in the datasets used and generated by several companies and individuals has increased data storage demand.
Data centres consume around 1% to 1,25% of global energy. Thus, many data centre designers adopt management solutions and advanced power distribution to attain energy efficiency at lower Power Usage Effectiveness (PUE) ratios. This goal to reduce the PUE ratio is expected to further fuel the demand for intelligent and advanced data centre power industry products over the forecast period.
An uninterrupted power supply (UPS) is the backbone of data centres and is deployed to ensure the smooth working of servers and other networking devices. Moreover, UPS cost is significantly higher than any other data centre power product. Furthermore, most data centres use smart UPS systems, battery monitoring devices, and intelligent power distribution systems (PDU) to reduce the PUE ratio. Thus, increasing penetration of these new devices is expected to boost the demand for UPS over the forecast period.
Many mega data centres in North America engage in procuring renewable energy sources for data centre operations. Tier 1 and Tier 2 facilities are anticipated to witness the espousal of basic PDUs.
However, the adoption of intelligent infrastructure with power monitoring ability is expected to grow due to rising concerns about power consumption, particularly in the US. However, the rise in complexity of data centre design, high initial investment costs, and interoperability issues are expected to hinder the growth of the market for data centre power.
Additional highlights from the report include:
* By component, the service segment is experiencing significant growth driven by several key factors such as increasing complexity of data centre power systems, growth of cloud computing and hyperscale facilities, and a skilled labour shortage.
* By solution, the busway segment is expected to register a CAGR of around 10,9% from 2024 to 2030. The rise of data-driven technologies such as AI, machine learning, and realtime analytics has created a need for powerful computing infrastructures.
* By service, the support and maintenance segment is expected to grow significantly in the forecast period due to end users increasingly opting for support and maintenance services for various purposes such as installation, maintenance, and troubleshooting.
* By end-use, the IT and telecommunications segment is expected to grow significantly over the forecast period. The rapid upsurge in the growth and construction of IT infrastructure is expected to drive the demand during the forecast period.
* North America accounted for around 37,8% revenue market share in 2023 due to an increase in US data centres and the region’s appeal to operators and cloud service providers due to cost-effective utilities and tax benefits.