It is noted that current market situation does not give a true reflection of the ample opportunities in power management software market. Once the IT and ICT industries recover fully from the economic downturn, energy-efficient and smart technologies are likely be in high demand in the new economic environment. The introduction of cloud computing and smart grids has boosted the demand for power management software, as energy monitoring, modeling, and management is necessary to ensure energy optimization. The convergence of such software is expected to aid the evolution of smart cloud (computing), smart cities, and smart network intelligence to meet energy efficiency requirements and address environmental issues.
New analysis from Frost & Sullivan (powersupplies.frost.com), Strategic Assessment of the World Power Management Software Market, finds that the market earned revenues of $569.3 million in 2010 and estimates this to reach $1.57 billion in 2017, as power management software is expected to converge with next-generation technologies such as cloud computing and smart clouds.
"The global emphasis on green approaches and environmental standards are driving market participants and end users to seek solutions to reduce energy usage and thereby, lower electricity expenses, increase energy efficiency, and reduce the total cost of ownership as well as carbon emission," says Frost & Sullivan Industry Analyst Teoh Chew Yew. "Power monitoring, managing, and modeling software caters to all the aforementioned capabilities, as they enable design, planning, and power data analysis."
Power management software provides data center operators with alerts and fault reports about power equipment, and collects power consumption data. It also offers clarity on power utilization and manages the energy usage of IT and facility resources for efficient data center operations.
Power management software reduces and controls energy costs with real-time power usage monitoring and granular power usage breakdown. It accurately determines the data center's current capacity and forecasts future capacity. These product benefits will go a long way in easing end users’ recession-induced reluctance to adopt power management software.
Market sales will also be affected by the fragmented nature of the market and changes in energy regulations. Moreover, most end users and technical authorities have limited knowledge about power management solutions’ features and applications. Consequently, end users prefer software updates to outright replacements.
Market participants still have many reasons to feel optimistic as the capital investment by the end users in this technology continues to rise. With governments/regulators enforcing norms on energy wastage, companies are becoming increasingly acquainted with the operational expenditure-reducing advantages of power management software.
"Increased awareness about the urgency of system upkeep, coupled with redeployment, has convinced participants that sophisticated technologies improves energy efficiency and reduces cost of ownership," notes Yew. "This greater awareness has increased the adoption of power systems, which translates to higher uptake of power management software."
If you are interested in more information on this study, please send an email with your contact details to Jessie Loh, Corporate Communications, at jessie.loh[.]frost.com.
Strategic Assessment of the World Power Management Software Market is part of the Power Supplies & Batteries Growth Partnership Services program, which also includes research in the following markets: Asia-Pacific Secondary Lithium Battery Market and Asia Pacific DC-DC Converter Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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