In this passage David is praising God and acknowledging God’s sovereignty. David uses words like greatness, power, and majesty to describe the essence of God’s sovereignty. God is the exalted head of all of creation. The words that David uses in this passage paint a picture of a God that is to be worshiped. Worship is the proper response to God and His sovereignty. Worship is also submission. Since God’s sovereignty is total, our submission in worship should be total as well.
Additionally, these words from David are in the form of a benediction. A benediction we use as part of the Lord’s prayer. For thine is the kingdom, and power, and glory forever.