ResearchandMarkets has released its latest report, “Data Center Power Market – Global Outlook and Forecast 2018-2023.”
Among other findings, the report estimates that the global data centre power market will reach a total value of $19 billion USD by 2023, growing at a CAGR of more than 6% from 2017-2023.
The report also indicates that the power centre market for data centres will be affected by increasing adoption of automation solutions, renewable energy, modular and hyperscale facilities, and the drive to make data centre infrastructure more efficient in power consumption.
Automation solutions include technology that can be implemented in the data centre to predict maintenance requirements and bolster fail-safe operations.
Additionally, power consumption may be affected by the implementation of artificial intelligence monitoring systems, such as the one currently in use at Google’s data centre facilities.
The growth of the global data centre power market will be driven primarily by tax incentives, which are being made available to persuade international companies to invest millions in the development of data centre facilities.
Advances in renewable energy sources and the increasing investment in redundant power infrastructure will bolster the market further.
Additional market growth may be driven by the use of hydrogen-powered fuel cells, which are becoming a better choice in cities that need data centres to supplement technological infrastructure, but that have either high electricity costs or fluctuations in power supply.
The Americas account for 1/3 of the market for the forecast, attributed to an increasing demand for mega data centres (defined as those with a capacity of over 10 MW.)
APAC accounts for another third, due to the growing market of internet users, smartphone owners, and rising cloud adoption rates.
This forecast is a slight improvement over the U.S. Outlook and Forecast, released last April, which projected a 5% CAGR through 2023, bringing the U.S. market to $4 billion.
That report also emphasized the importance of renewable power sources and hyperscale to the continued growth of the data centre power market.
The major vendors in the global market are ABB, Caterpillar, Cummins, Eaton, Schneider Electric, and Vertiv.