Data Center Cooling Market Size
With the increase in the number of data centers, there is a growth in demand for data center cooling solutions to reduce overall IT cost for data centers.
PORTLAND, PORTLAND, OR, UNITED STATES, July 21, 2023/EINPresswire.com/ — According to the report, the global data center cooling market was pegged at $10.54 billion in 2019 and is projected to reach $27.30 billion by 2027, registering a CAGR of 12.8% during the forecast period.
Growing demand for efficient and cost-effective data centers, green initiatives for eco-friendly data center solutions, and significant growth in data center and power density drive the growth of the global data center cooling market. However, need of specialized infrastructure and high investment cost and cooling challenges during power outage restrain the market. Moreover, advent of liquid-based cooling and portable cooling technology and growing need for modular data center cooling approach are anticipated to present lucrative opportunities for the market players in the near future.
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Covid-19 Scenarios-
• The data center cooling market has undergone significant revenue growth, as the requirements from sectors such as financial institutions, telecom operators, and other services has increased.
• As a result of the lockdown, furthermore, the demand to create and manage unstaffed data centers has increased.
Based on type of cooling, the room-based cooling segment held the largest share in 2019, contributing nearly half of the global data center cooling market, owing to less capital cost as requirement of number of piping and cooling units are less. However, the rack-based cooling segment is projected to register the fastest CAGR of 15.4% through 2027, owing to extreme density capability of rack-based cooling. In addition, rack-based cooling reduces airflow path length of CRAH fan resulting in increased operational efficiency along with energy efficiency.
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The market across North America held the largest share in 2019, with nearly half of the global data center cooling market, and would lead the trail by 2027. North America is the world’s biggest hub for software companies and offers data storage facilities worldwide. Therefore, with growth in number of data centers, requirement for cooling systems is also expected to increase to maintain HVAC level of data centers and support data center operations. However, the market across Asia-Pacific region is projected to register the fastest CAGR of 16.9% during the forecast period. China & India has a tremendous potential for growth in the data center cooling market, due to rapid industrialization. Furthermore, increase in number of data centers boosts the data center cooling market in this region.
Based on component, the solution segmented dominated the market in 2019, accounting for more than two-fifths of the global data center cooling market. The increase in adoption of data center cooling as it offers, energy-efficient, environment-friendly, and cost-effective cooling solutions drive the segment growth. In addition, stringent environmental safety rules imposed by various governments further augment the growth of this segment. However, the services segment is projected to showcase the fastest CAGR of 14.6% during the forecast period. Data centers are required to be maintained by trained professionals to keep efficiency intact. Moreover, the rapid growth in data centers, service providers for services such as installation & deployment, support & maintenance, and consulting for data center cooling further drive the growth of the segment.
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Key Benefits For Stakeholders:
• This study includes the analytical depiction of the global market forecast and trends to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and Data center cooling market opportunity.
• The current market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the data center cooling industry.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the data center cooling market.
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