The global power distribution unit market size was valued at USD 2,381.5 Million in 2018 and is projected to reach USD 3,961.6 Million by 2026, exhibiting a CAGR of 6.7% during the forecast period.
The global power distribution unit market is expected to see considerable growth owing to increasing requirements for data storage management. This information was shared in a report, titled “Power Distribution Unit (PDU) Market Size, Share and Global Trend By Type, Power Phase, Industry, Application and Geography Forecast till 2026.” The data centers in several sectors such as healthcare, IT, BFSI, energy, and government constantly demand uptime, which fuels demand for smart PDUs. One of the key trends in this market in rising completion among vendors and PDU manufacturers.
To Gain More Insights into the Power Distribution Unit Market, Browse Summary of the Research Report – https://www.fortunebusinessinsights.com/industry-reports/power-distribution-unit-pdu-market-100424
Top Players Overview:
Some of the leading players operating in the global Power Distribution Unit Market include;
Siemens Cisco Schneider Electric Eaton Tripp Lite Server Technology Inc. CIS Global Vertiv Group Corp. Raritan Inc. Leviton Manufacturing Co. Inc “Large Number of Data Centers Drives the Market in North America”
Among regions, North America is anticipated to hold the major share in the global power distribution unit (PDU) market. The early adoption of advanced technologies and the presence of a huge number of data centers in this region are creating ample growth opportunities for the market. With the advent of technologies such as the Internet of Things (IoT), machine learning, specialized imaging, Artificial Intelligence (AI), robotic-assisted surgery, and virtual healthcare, a staggering volume of data is generated on a daily basis.
“Automation in the Power Industry Drives the Market”
The rising demand for high-power capacities in high-density environments and intelligent products is expected to drive the market in the upcoming years. A large amount of data is generated in data centers which increases their demand. The rising need to reduce power consumption is another factor boosting the PDU market. Increasing power automation in the power sector and machine sensors triggering data generation are further expected to fuel demand for PDUs in electric vehicles. Automation has the ability to monitor the status of electric power quality and amount of energy consumed. In order to cope with this huge amount of data generated by industries and machines, demand for several data centers is likely to be high. This, in turn, is expected to drive the PDU market by 2026.
The growing amount of unstructured data generation owing to the increasing number of internet users is another factor stimulating growth of the market. The heavy data traffic can be monitored and managed by data centers.
As per published research studies, the average cost of IT downtime is expected to reach around US$ 5,500 per minute as per industry, revenue, people impacted, time of the day, and outage duration. Consequently, enterprises across the world are planning to invest in intelligent PDUs to reduce downtime and ensure power optimization.
Some of the major players operating in the global PDU market are Eaton Corporation, Raritan Inc., Schneider Electric, Vertiv Group Corp., Server Technology Inc., Siemens AG, Tripp Lite, Cisco Systems Inc., Leviton Manufacturing Co. Inc., and CIS Global.