Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market Overview 2024: Size, Growth Drivers, and Major Segments
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What is the Expected Growth Rate of the Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market for the Period 2024 to 2033?
The value of the data center low voltage (lv) or medium voltage (mv) power distribution market has experienced significant growth recently. Its expansion is set to continue, moving from $3.17 billion in 2023 to $3.52 billion in 2024, yielding a compound annual growth rate (CAGR) of 11.0%. Factors contributing to the growth observed in the historic period include the escalated demand for data storage, the broadening scope of cloud computing, an increased dependency on digital technologies, a rise in internet usage, and the incorporation of big data analytics.
The market size of the low voltage (lv) or medium voltage (mv) power distribution in data centers is forecasted to see substantial growth in the impending years. It’s anticipated to escalate to $5.36 billion by the year 2028 with a Compound Annual Growth Rate (CAGR) of 11.1%. The projected growth during this period can be credited to factors such as the increase in data traffic, enlargement of edge computing, a rising demand for high-performance computing (hpc), the switch to 5g networks and a concentration on energy-efficient data center solutions. The forecast period also witnesses significant trends like the adoption of modular and scalable power distribution solutions, an amplified utilization of renewable energy resources in data centers, a focus on energy efficiency and sustainability, the introduction of smart grids in data centers and the integration of digital twins for data center management.
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What Factors Are Responsible for the Growth of the data center low voltage (lv) or medium voltage (mv) power distribution Market?
The increasing utilization of cloud computing is projected to boost the progress of the data center low voltage (LV) or medium voltage (MV) power distribution market in future. By distributing computing services like storage, processing potential and software programs via the Internet, cloud computing enables companies to store and process enormous amount of data in one central location, eliminating the requirement for on-site servers that consume vast amounts of electricity. This intricate connection facilitates proactive modifications, optimized power usage, and eco-friendliness, leading to more green and effective data center power distribution systems. For instance, a report published by Eurostat, a Luxembourg-based statistical organization for the European Union, showed that in December 2021, the adoption of cloud-based services among businesses rose to 41% in 2021, a 5-percentage point increase from 36% in 2020. Large-scale entities, in particular, displayed a preference for cloud computing with a 72% usage rate in 2021, marking a 7.0% growth from the previous year. As a result, the growth of the data center low voltage (LV) or medium voltage (MV) power distribution market is expected to be driven by the surge in cloud computing adoption.
Which Segments Are Important for Insight into the Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market?
1) By Component: Hardware, Services
2) By Data Centre Sizes: Small And Medium-Sized Data Centers, Large Data Centers
3) By Application: Banking Financial Services And Insurance (BFSI), Colocation, Energy, Government, Healthcare, Manufacturing, IT (Information Technology) And Telecom, Other Applications
What Are the Significant Trends Reshaping the Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Sector?
The introduction of innovative products in the data center low voltage (LV) or medium voltage (MV) power distribution market has become a growing trend, with leading companies aiming to enhance their market presence through these advancements. In this context, Vertiv, a US company specializing in data center equipment and services, took a leap forward by launching the Vertiv Powerbar iMPB in October 2022. This innovative, modular busbar solution is designed to offer seamless power updates based on demand in evolving data center conditions. Offered in two variants – copper and aluminum conductors, the Vertiv Powerbar iMPB series caters from 160 amps to 1,000 amps. It ensures reliable overhead power distribution while maximizing cooling air circulation. This system is adaptable across a diverse range of venues including any size or design of data centers, laboratories, distribution warehouses, flexible manufacturing units, and other changing environments.
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Which Regions Are Essential for the Growth of the Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market?
North America was the largest region in the data center low voltage (LV) or medium voltage (MV) power distribution market in 2023. The regions covered in the data center low voltage (lv) or medium voltage (mv) power distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the data center low voltage (lv) or medium voltage (mv) power distribution market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market Include
1. Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market Executive Summary
2. Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market Segments
3. Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market Size And Template Market Growth Rate
4. Key Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market Trends
5. Major Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market Drivers
……
25. Key Mergers And Acquisitions In The Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market
26. Top Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Companies
27. Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market Opportunities And Strategies
28. Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market, Conclusions And Recommendations
29. Appendix
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