With the world hungry for more digital services, the data centre market continues to overachieve as one of the fastest growing asset classes. Consequently, sub-markets of the overall data centre market are also experiencing a rapid increase in business. 

Such is the case of power, crucial to the functioning of any data centre, whose market is set to cross the US$15 billion mark by 2026, according to latest report “Data Center Power Market by Component (Solution [Power Distribution Units (PDUs), UPS, Generators, Cabling Infrastructure], Service [Managed, Professional]), Application (BFSI, Colocation, Energy, Government, Healthcare, Manufacturing, IT & Telecom), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights.

The widespread adoption of IoT and cloud computing technologies among enterprises is propelling the market growth, researchers have found.

The trend of colocation is gaining traction due to several advantages offered by colocation providers. Constructing new facilities drains a company’s vital resources such as time, labour, and money. 

Businesses with limited data storage requirements and budgetary constraints prefer colocation data centres. 

The rapid technological developments, such as IoT and cloud services, coupled with an increase in data storage requirements in large enterprises are encouraging colocation providers to offer enhanced services to operators, such as power, cooling, and maintenance of infrastructure, supporting the market expansion.

“Services are estimated to witness high demand in the data centre power market over the coming years,” it reads in the report. “Managed services help data centre operators to have a proper service and maintenance of data centre power equipment, optimising and maintaining mission-critical applications.” 

Data centre power systems are required to be reliable, efficient, and secured for keeping data centre running at maximum efficiency and optimal performance. 

The acceptance of regular maintenance avoids unnecessary downtime and helps save time and cost. Prominent market leaders offer high-quality solutions that increase power availability and system uptime in mission-critical data centres.

The MEA data centre power market size will observe substantial growth till 2026 on account of the flourishing telecom sector in the region. 

The demand for cloud computing has encouraged service providers to expand their IT facility in the region. Several telecom operators are engaged in constructing large-scale facilities to improve their data transmission rate and compete in the market. 

For instance, in October 2019, Paltel Group, a Palestinian telecoms company, completed the construction of its second data centre in Ramallah. It is 65,000 square foot (6,000 sq m)-facility with Uptime Tier III Design certified. The increasing construction of IT facilities will drive the demand for intelligent power managing solutions to enhance energy consumption in these facilities.

Major companies operating in the data centre power market include Rittal GmbH & Co. Kg, Schneider Electric SE, Server Technology, Inc., Siemens AG, TDK Corporation, Toshiba Corporation, Tripp Lite, and Vertiv Group Co.