Data Center Cooling Market to Grow at 13.8% CAGR by 2030
Increase in the number of data centers along with the growing need for eco-friendly and cost-effective alternatives are key driving factors of the market.
The Data Center Cooling market is expected to grow at a CAGR of 13.8% from 2021-2030, according to a new research report by Next Move Strategy Consulting.
Cooling solutions for data centers are intended to maintain ideal temperature inside the data centers to ensure efficient data storage and processing. Data centers process massive amount of data and remain active 24*7. During their continuous operation, cooling solutions prevent the servers from overheating, which may damage it. In recent times, there has been a spike in the demand for eco-friendly and cost-effective data center cooling equipment. Also, the introduction of 4G and 5G networks coupled with increasing internet penetration and cloud-based services are expected to drive the market growth within the forecast period. However, power outage and adaptability issues in terms of requirements are anticipated to restrain the market growth. According to the report, significant technological advancement coupled with rise in demand for improved IT infrastructure are also driving the data center cooling market growth.
Based on component, the data center cooling market share is segmented into solutions and services. Solutions is sub segmented into Air conditioners, Air handling unit, Chiller, Cooling towers, Pumps and Other solutions. Services is sub segmented into installation and development, support and maintenance and consulting. Based on type of cooling, the data center cooling market is segmented into room based cooling, rack based cooling and row based cooling. Based on type of data center, the data center cooling market is segmented into enterprise data center, colocation data center, wholesale data center, hyperscale data center and other data center. Based on industry vertical, the data center cooling market is segmented into BFSI, manufacturing, IT and telecom, media and entertainment, retail, government and defense, healthcare, energy and other industry vertical. Based on geography, the market is segmented into North America, Asia Pacific, Europe and RoW.
At present, due to technological advancements and latest developments pertaining to the data center cooling market, North America region possesses the lion share of the market. The Asia Pacific region is expected to show exponential growth within the forecast period due to rise in the number of smartphones, laptops, and PCs, combined with increasing internet penetration in this region as a result of expanding userbase. This is anticipated to generate huge chunks of data and a dire need for data centers and cooling solutions.
Browse key industry insights from the report, Data Center Cooling Market by Component (Solution and Service), Type of Cooling (Room-Based Cooling, Rack-Based Cooling, and Row-Based Cooling), Type of Data Center (Enterprise Data Center, Colocation Data Center, Wholesale Data Center, and Hyperscale Data Center), Industry Vertical (BFSI, Manufacturing, IT & Telecom, Media & Entertainment, Retail, Government & Defense, Healthcare, Energy, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
According to the report, some of the key players in the market are Asetek, Black Box Corporation, Emerson Electric Co., Fujitsu Limited, Hitachi Ltd., Nortek Air Solutions, Rittal GMBH & Co. KG, Stulz GMBH, Schneider Electric, Vertiv Co. and many more.
Key Insights from the Data Center Cooling Market Report:
- Current and emerging trends along with opportunities are extensively analysed in the data center cooling market report.
- The forecast of the data center cooling market comes along with additional information associated with opportunities, restrains and key drivers in the market.
The report data center cooling market – is segmented by component, type of cooling, type of data center, industry vertical and geography.
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