Global Data Center Transformer Market
Global Data Center Transformer Market Size Expands at CAGR of 6.36% to Reach USD 10.16 Billion by 2030
Published | 18 January 2024
Global Data Center Transformer Market is flourishing due to the increasing number of data center being constructed across the regions to meet a growing demand for data storage and processing.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Data Center Transformer Market size at USD 7.02 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Data Center Transformer Market size to expand at a CAGR of 6.36% reaching a value of USD 10.16 billion by 2030. The Global Data Center Transformer Market is propelled by the increasing volume of traffic data. For instance, projections from the International Energy Agency (IEA) indicate an upswing in the demand for digital services and information during the forecast period. The proliferation of mobile and cloud services, along with the construction of hyperscale data centers, has led to a doubling of global internet usage, reaching 25 billion connections by 2022. This transformative landscape is expected to create numerous job opportunities for industry professionals. At the same time, data centers have embraced technological advancements, increasing IT investments to streamline operations and data storage. The Global Data Center Transformer Market is expected to further expand due to the surge in data growth, fueled by the heightened energy consumption of data centers. The increasing workload highlights the need for superior electronic equipment, emphasizing the pivotal role of transformers. The United States is committed to improving transformer design to enhance efficiency, recognizing the impact of power outages on electricity distribution and aiming to influence future data center usage patterns. Smart switches and transformers are essential elements in ensuring efficient electricity distribution and contributing to the expected surge in the market demand.
Opportunity – Expanding Edge Computing
The robust expansion of edge computing is expected to be a major catalyst for substantial growth in the Global Data Center Transformer Market. Data centers, comprising networked computers and storage devices, play a pivotal role in organizing, storing, processing, and disseminating data essential to business organizations. The escalating network connectivity and widespread usage of smartphones contribute to the daily generation of vast amounts of data, with over 5 billion connected devices globally. To ensure optimal performance, this data necessitates efficient storage, routing, and management. As Industry 4.0 standards develop and the number of connected devices continues to rise, many IT organizations turn to data centers for enhanced big data analytics, recognizing the challenges and time constraints associated with internal data management. The shift to edge computing significantly propels the expansion of the data center market.
Impact of COVID-19 on Global Data Center Transformer Market
COVID-19 pandemic had a mixed impact on the Global Data Center Transformer Market. Initial lockdowns and disruptions had a significant impact on data center construction projects and equipment installations. However, the subsequent increase in remote working, online education, and e-commerce activities resulted in a higher demand for data center capacity. This change in demand for digital services, coupled with the rapid adoption of cloud-based solutions, presented opportunities for manufacturers of data center transformers. As a result, the Global Data Center Transformer Market has witnessed growth driven by these emerging trends.
Global Data Center Transformer Market
Global Data Center Transformer Market – By End User Industry
By end user industry, the Global Data Center Transformer Market is divided into IT & Telecom, BFSI, Healthcare, Energy, Government, Travel & Transport, and Retail segments. The IT & telecom segment holds the highest share in the Global Data Center Transformer Market by end user industry. It is primarily due to the exponential growth in data traffic, increased reliance on digital services, and the expanding scope of cloud-based applications within the industry. As IT and telecom entities continually upgrade and expand their data center infrastructure to meet rising demands, there is a heightened need for advanced transformers to ensure efficient and reliable power management, contributing to the segment's dominance in the market.
Global Data Center Transformer Market – By Region
The in-depth research report on the Global Data Center Transformer Market covers the market in a number of major countries across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The North America region holds the highest share in the Global Data Center Transformer Market. It is primarily influenced by major players like Eaton and General Electric. The region's market growth is further propelled by advanced technological development and heightened technical awareness among users. The substantial presence of data centers is a key driver for the regional market. Meanwhile, Asia Pacific region is expected to record the fastest growth rate during the forecast period. The market growth in Asia Pacific is fueled by rising demands for data storage and cloud-based applications. Increased data center construction, especially in sectors like education and healthcare, is facilitated by government support and the adoption of cloud-based services. The proliferation of smartphones, widespread internet availability, and the growing demand for mobility are expected to contribute significantly to the increasing number of data centers in the region, positively impacting the growth of Asia Pacific Data Center Transformer Market.
The Global Data Center Transformer Market is fragmented, with numerous players serving the market. The key players dominating the Global Data Center Transformer Market include Dell, Microsoft, Cisco, HCLTech, IBM, NTT, ABB Ltd, Eaton, and Schneider Electric. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Data Center Transformer Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Data Center Transformer Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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- Data Center Transformer Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2030, Segmented By Insulation Type (Dry Type, Liquid Type (Oil-immersed)); By End User Industry (IT & Telecom, BFSI, Healthcare, Energy, Government, Travel & Transport, Retail); By Region (North America, Europe, Asia Pacific (APAC), Latin America (LATAM), Middle East and Africa (MEA))
Publish Date: January 2024
An increasing number of data centers being built to meet the growing demand for data storage and processing are expected to drive the Global Data Center Transformer Market during the forecast period between 2024 and 2030.
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