Data Center Power Market: Overview
The development of the global data center power market is estimated to be driven by rising number of new data centers across the globe. There has been a surging demand for proper storage of data by several organizations across the globe, which drives the demand for data centers. The phenomenal rise in the consumption of power by these countless data centers has increased the cost of operation and power, which has become a challenge for several end users to conserve and manage power in data centers. As such, the IT professionals and data center managers are emphasizing on the implementation of effective and efficient data center power solutions so as to assure continuity of business.
Product, end use, and region are the three important parameters based on which the global data center power market has been categorized.
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Data Center Power Market: Notable Developments
- In 2018, Facebook Inc set up a hyperscale data center in Singapore and this center is completely supported by renewable energy. Integration with the State Point Liquid Cooling system assists in diminishing the water and power consumption.
Some well-known organizations in the global data center power market include the below-mentioned:
- Emerson Network Power
- Toshiba Corporation
- Eaton Corporation
- Toshiba Corporation
- Schneider Electric S.A.
Data Center Power Market: Key Trends
The global data center power market is characterized by the presence of the following restraints, drivers, and opportunities.
Rising Number of Data Centers to Drive Demand in the Market
With the increasing use of social media and rapid adoption of various mobile and online computing services by several companies, the demand for large amount of data storage devices arises. As such, many companies are outsourcing their computational jobs to cloud-based infrastructure.
Cloud computing services need very high computational capacities and it offers advantages like scalability, efficiency, and flexibility. Many small scale businesses as well as large enterprises are making a shift toward co-location facilities. This shift toward such facilities have huge energy requirement during the time when colossal amount of data needs to be processed. This demands for use of efficient power management, which is likely to drive the expansion of the global data center power market over the period of assessment, 2020 to 2030.
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Global Data Center Power Market: Geographical Analysis
Driven by the presence of countless data centers and high implementation of these centers across various verticals propel growth of the North America data center power market. Asia Pacific is likely to emerge as another rapidly growing
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.