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(IT-NEWSWIRE.COM, July 20, 2017 ) The global data center power market is estimated to grow from USD 13.54 Billion in 2016 to USD 21.73 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 9.92% during the forecast period. Factors such as growing concern of the data center providers to optimize operational cost of the data center by reducing the cost of data center power is driving the growth of the global data center market. The rise in new data center construction due to the increase in demand for data storage and requirement of an efficient power management to minimize the high consumption of energy by data centers is anticipated to boost the data center power market during the forecast period across the globe.
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The power backup solution is expected to hold the largest market share. The major factors that have been driving the adoption of power backup to data center are rising power outages due to environmental problems or mechanical problems and rising construction of data centers due to increase in demand for data storage. System integration holds the largest share in the service segment owing to special integration service of data center equipment to achieve high performance infrastructure and data center efficiency. Research and academia vertical is expected to grow at the highest CAGR during the forecast period.
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North America accounted for the largest market share in 2016 and is expected to dominate the data center power market globally. However, the Asia-Pacific (APAC) region is in its initial growth phase and is the fastest growing region in the global data center power market. The key reasons for the high growth rate in APAC are increasing data center construction, increasing data storage demand due to rise in cloud-based applications, growing economy, and government support for the data center construction. This region offers potential growth opportunities due to improvement in infrastructure, business strategic moves, and emergence of new technologies combined with growing business needs.
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Source: EmailWire.Com 
Source: EmailWire.com
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