Market Research Report
Data Center Cooling Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||546584|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|Data Center Cooling Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: June 1, 2019||Content info: 120 Pages||
The Global Data Center Cooling Market was valued at USD 9.27 billion in 2018 and is expected to reach a value of USD18.39 billion by 2023 at a CAGR of 12.34% by 2024.
As organizations keep adding blade servers and storage devices to enhance their performance, data centers are demanding more electricity and producing high heat. Sometimes the heat even exceeds 30kW-50 kW/server rack. Increased electricity demands are adding up to investments in cooling and heat management solutions.
Rising investments in high-density technology, high-performance computing, and power smart city initiatives are making state and local players engage in developing the most reliable and efficient methods to the data centers.
Further, benefits offered by the technology and support from the government by imposing efficiency regulations on data centers are expected to directly help the growth of the data center cooling market.
Cooling remains one of the major challenges faced by data center facility managers, as it accounts for around 20% of the overall expenditure (according to various estimates).
Support from the government by imposing efficiency regulations on data centers are expected to directly help the growth of the data center cooling market.
The data center cooling market most commonly used methods for heat management in data centers. Data centers have become a core component organization IT infrastructure. A data center is a centralized repository for the storage, management, and dissemination of data and information, which is organized around a particular body of knowledge or pertaining to a particular business.
Retail Industry to Witness Highest Growth
Retail is one of the fastest-growing end-users for data center applications, globally. Rapidly increasing consumer data that is generated from various mobile applications and online activity is stored and analyzed by the retail organizations to create personalized shopping experience.
The advent of e-commerce has further increased the demand for data storage and processing needs, creating a huge surge in demand for data center establishments. In fact, several retail establishments that have the resources to develop indigenous data centers are expanding their operations into this sector.
For example, consider the case of Walmart Inc. Over the last five years, the company has invested millions of dollars in developing six massive server farms (each larger than 10 football fields), in order to compete with its prime rival, Amazon. The major aim of establishing these data centers is to allow Walmart to have its own internal cloud server, which can store and process consumer data, rather than renting these services.
Such advancements among top retailers are expected to launch new data center establishments. Also, vendors who lack such resources are expected to rely on service providers, thereby increasing expansion activities in the colocation market, creating considerable opportunities for the data center cooling market over the forecast period.
Europe to Hold Major Market Share
The data center cooling market is fragmented. The benefits offered by the technology and support from the government by imposing efficiency regulations on data centers are expected to directly help the growth of the data center cooling market. Overall, the competitive rivalry among existing competitors is high. Moving forward, acquisitions and collaboration of large companies with startups are expected, which are focused toward innovation. Some of the key developments in the area are: