According to analysts at Pike Research, this is due to the fact that more companies are waking up to its economical and ecological benefits.
The research firm said that the industry is currently worth around $168 million (£104 million) but will expand to $783 million by 2015.
This increased adoption equates to taking around eight million cars off the road, the research firm said.
"Power management tools offer a fast return on investment for companies looking to save costs and reduce emissions," senior Pike Research analyst Eric Woods told the news provider.
"Often, this software may even come free of charge, thanks to utility company rebates. This is a particular boon for corporate IT departments, since servers use 60 per cent of their maximum power while doing nothing at all."
