New York, United States, June 24, 2024 (GLOBE NEWSWIRE) -- The Global Remote Power Panel Market Size is to Grow from USD 1.23 Billion in 2023 to USD 1.85 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.17% during the projected period.
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A remote power panel (RPP) is a cultured electrical distribution system intended to professionally control and distribute electricity in various contexts, such as data centers, manufacturing facilities, and commercial buildings. Improved volume and limited power delivery distributed the essential power supply panel to support mission-critical equipment and operations. Remote power panels are essential because they can ensure a steady supply of power, maintain optimal equipment performance, and promote energy efficiency in a range of applications. Concurrently, the growing number of data centers is the primary driver of the prospective increase in remote power panels. Effective and intelligent power management systems are becoming more and more necessary due to the Internet of Things (IoT), cloud computing, edge computing, and data centers fast growth. IT administrators and data center managers may remotely monitor and manage power distribution systems to maximize energy efficiency, provide a steady power supply, and quickly address problems. One possible barrier to the market for remote power panels might be their high initial cost. This is due to the potential expense associated with acquiring and installing remote power panels, which might deter certain companies—particularly small and medium-sized ones—from entering the market.
Browse key industry insights spread across 188 pages with 120 Market data tables and figures & charts from the report on the report on the "Global Remote Power Panel Market Size, Share, and COVID-19 Impact Analysis, By Type (Floor-standing, Wall-mounted), By Application (Commercial Buildings, Data Centers, Hospitals), By End User (BFSI, IT & Telecom, Healthcare, Government & Defense), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The floor-standing remote power panels hold the greatest market share during the estimated period.
On the basis of type, the global remote power panel market is bifurcated into floor-standing, and wall-mounted. Among these, the floor-standing remote power panels hold the greatest market share during the estimated period. Floor-standing remote power panel installations can be carried out directly on the ground or on a pedestal. These heavy-duty devices can hold more circuit breakers and other electrical components inside an enclosed structure due to their bigger capacity.
The data centers are estimated to hold the greatest market share during the prediction period.
On the basis of application, the global remote power panel market is bifurcated into commercial buildings, data centers, and hospitals. Among these, the data centers are estimated to hold the greatest market share during the prediction period. Data centers are becoming more and more important due to the exponential growth in digital data consumption and storage requirements. Better power distribution techniques, such as remote power panels, are needed to minimize downtime of critical IT equipment. To operate their essential medical equipment and deliver patient care, hospitals require a consistent supply of power. RPPs offer effective power management solutions that reduce the likelihood of failures or interruptions during medical operations by giving priority to essential loads.
The IT & telecom segment holds the largest market share during the projected period.
On the basis of end user, the global remote power panel market is bifurcated into BFSI, IT & telecom, healthcare, government & defense. Between these, the IT & telecom segment holds the largest market share during the projected period. This is because more people are engaging in online activities like purchasing, which produce a lot of consumer data. Data centers are necessary for IT and telecom businesses to provide clients with reliable and quick communication services. Here, remote power panels reduce the need for on-site interventions, enhance energy efficiency, enable remote monitoring and troubleshooting, administer and control power distribution effectively, and boost the overall dependability of the data center’s power infrastructure.
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North America is expected to account for the highest market share during the prediction period.
North America is expected to account for the highest market share during the prediction period. The increasing renovation and modernization of the existing infrastructure in North America is one of the primary factors driving the need for remote power panels. A cost-effective method of modernizing and optimizing power distribution networks without needing major changes to the current infrastructure is to use remote power panels. In addition, the sector in the area is rising as a result of the increasing use of smart grid technologies, which improve power distribution networks and provide centralized monitoring and administration. Furthermore, the growing data center operations for efficient power management—which ensures high availability, scalability, and reliability of infrastructure in data centers—are positively influencing the region's market.
The Asia Pacific region is the fastest-growing region during the prediction period. This is due to several factors, such as the rapidly growing IT and telecom industries in the region, the increasing need for redundancy and reliability in power supply, the growing emphasis on energy efficiency in the region, and the growing demand for remote power panels in industrial and cloud computing applications. The region's rapidly expanding telecom and IT sectors are the driving force behind the need for remote power panels in data centers and server rooms. In addition, the need for remote power panels in industrial and cloud computing applications is expanding in the area.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Remote power panel Market include ABB Ltd, Allied Power and Control, Altruent Systems, Anord Mardix, C&C Power Inc., Danfoss Group, Daxten, Delta Electronics, Inc., Eaton Corporation PLC, Emerson Electric Co., Fuji Electric Co., Ltd., Hitachi, Ltd., Larsen & Toubro Limited, Legrand, Leviton Manufacturing Co., Inc., Lowell Manufacturing, others.
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Recent Developments
- In May 2023, Legrand unveiled two new intelligent rack PDUs that include hardware from Server Technology and the most recent software from Raritan. The goal of the relocation was to provide its clients with the highest caliber gear and the necessary security.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the Global Remote Power Panel Market based on the below-mentioned segments:
Global Remote Power Panel Market, By Type
- Floor-standing
- Wall-mounted
Global Remote Power Panel Market, By Application
- Commercial Buildings
- Data Centers
- Hospitals
Global Remote Power Panel Market, By End User
- BFSI
- IT & Telecom
- Healthcare
- Government & Defense
Global Remote Power Panel Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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