The Asia Pacific Data Center Power Market would witness market growth of 8.2% CAGR during the forecast period (2022-2028).
Data centers hold variable numbers of servers and provide space, electricity, as well as cooling for network equipment. The number of servers in a data center determines how much power it consumes. Data centers consolidate essential IT activities and equipment while storing, sharing, and managing data. They are classified according to their business model, ownership structure, and location. A data center, or DC, is a physical location where information is processed. Servers, databases, networking, and telecommunication technologies comprise DCs, which are made up of particular software and programs that govern digital information. Choosing a data center that meets the needs of the user can be a challenging task. While many other criteria must be considered, locating a data center with the appropriate power source is equally critical. This is because power is a critical component for a data center to operate and keep the IT infrastructure up and working even when there are outages.
The growing demand for Internet services is boosting the data center business, which in turn is driving up the demand for a stable and efficient power supply to ensure data center uptime. The data center power market is expected to grow significantly in the coming years. Furthermore, data center power consumption expenditures might account for a considerable proportion of an enterprise's IT budget. As a result of the increased need for more power capacity as a result of rising power costs, the need to efficiently control and streamline energy resources and power consumption has arisen.
Due to increase per capita income, the introduction of the latest products, technological innovation, expanding distribution, networking, and increasing customer knowledge of financial goods, the banking, financial services, and insurance (BFSI) industry in India is expected to develop dramatically. Due to India's economic progress and increased public knowledge of financial products and services, the BFSI business is expected to grow dramatically in the coming years. New and diverse products would present significant prospects for niche development. RSM is ideally positioned to provide numerous services on, such IT platforms because the industry has adopted IT as a fundamental aspect of company strategy.
Investments, driven mostly by government securities, were the second-largest component in the assets side of total banks' balance sheets after loans and advances. According to the National Investment promotion & Facilitation Agency, as of 2020, Indian banks' capital adequacy remained above regulatory limits, with the RBI lowering the leverage ratio allowing banks to increase lending. By abolishing the $745 transaction cap and allowing banks to set their own restrictions, the RBI has taken steps to make mobile payments essential enablers of growth.
The China market dominated the Asia Pacific Data Center Power Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,128.8 million by 2028. The Japan market is anticipated to grow at a CAGR of 7.5% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 8.9% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Operating Environment, the market is segmented into Windows OS, Unix OS, and Linux & other Open Source OS. Based on End User, the market is segmented into BFSI, Retail, IT & Telecom, Public sector & utilities, Energy, Manufacturing, Healthcare, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Data Center Power Market is Projected to reach USD 13 Billion by 2028, at a CAGR of 7.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Schneider Electric SE, Siemens AG, Legrand S.A., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), ABB Group, Eaton Corporation PLC, Mitsubishi Electric Corporation, Vertiv Holdings Co., Delta Electronics, Inc., and Cisco Systems, Inc.
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