Data Center LV/MV Power Distribution Market - By Component (Hardware, Service), By End-Use (Colocation, BFSI, Energy, Government, Healthcare, Manufacturing, IT & Telecom) & Forecast, 2023 - 2032

Data Center LV/MV Power Distribution Market - By Component (Hardware, Service), By End-Use (Colocation, BFSI, Energy, Government, Healthcare, Manufacturing, IT & Telecom) & Forecast, 2023 - 2032

The global Data Center LV/MV Power Distribution Market is estimated to record a CAGR of over 11% during 2023 and 2032, revolutionizing the way data centers operate and enhancing their efficiency. The industry growth is supported by the surge in data generation and consumption. In 2021, the world generated approximately 74 zettabytes of data, a number expected to quadruple by 2025. This exponential data volume necessitates robust data centers equipped with efficient LV/MV power distribution to ensure uninterrupted operations.

Furthermore, environmental sustainability has become a critical concern for data centers globally. As organizations increasingly adopt eco-friendly practices, there is shift towards energy-efficient solutions leading to the integration of renewable energy sources, such as solar and wind, into data center power distribution systems. The statistics indicate that 35% of data centers incorporated renewable energy solutions in 2021, a figure projected to rise significantly in the coming years, shaping the market outlook.

The overall data center LV/MV power distribution industry is classified based on component, end-use, and region.

As per component, the service segment is slated to gain momentum and grow at a strong CAGR through 2032, as it helps in ensuring seamless operations. Service providers offer a range of critical services, including installation, maintenance, and consultancy. There is increase in service contracts as data center operators recognize the significance of expert support to optimize their power distribution systems, enhance reliability, and mitigate downtime risks. This add to the segmental share in the coming years.

Speaking of end-use scope, the data center LV/MV power distribution market share from energy segment is poised to record a notable growth during the forecast period. The growth is supported by the increasing digitization of government services and data-driven governance strategies. In 2021, governments worldwide allocated significant resources to enhance their data center infrastructure, leading to a 15% rise in demand for LV/MV power distribution solutions. The statistics reflect the critical role data centers play in ensuring secure, efficient, and accessible public services.

Moving on regional aspect, Asia Pacific data center LV/MV power distribution industry size will expand at the rate of more than 12% over 2023-2032. The region's rapid economic growth, urbanization, and digital transformation initiatives have fueled the demand for data centers in order to manage the burgeoning data and ensure efficient operations. With many IT giants exploring the opportunities and setting up their offices in the developing nations, the APAC region will continue to generate revenues for data center LV/MV power distribution market players during the study period.