Market Research Report
Data Center Cooling Market by Component, by Type of Cooling, by Data Centers, by Industry Vertical - Global Opportunity Analysis and Industry Forecast, 2021 - 2030
|Data Center Cooling Market by Component, by Type of Cooling, by Data Centers, by Industry Vertical - Global Opportunity Analysis and Industry Forecast, 2021 - 2030|
Published: May 1, 2021
Next Move Strategy Consulting
Content info: 384 Pages
Delivery time: 1-2 business days
At an estimated value of over USD 11.95 billion in 2020, the global data center cooling market is predicted to thrive at a CAGR of 13.8% and valued at USD 42.67 billion by 2030. 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.
The global data center cooling market share has been segmented on the basis of component, type of cooling, type of data center, industry vertical and geography. On the basis of component, the market is categorized into solution and service. Solution is sub segmented into air conditioners, air handling unit, chiller, cooling towers, pumps and others. Service is sub segmented into installation & deployment, support & maintenance and consulting. On the basis of type of cooling, the market is segmented into room-based cooling, rack-based cooling and row-based cooling. Based on type of data center, the market is segmented into enterprise data center, colocation data center, wholesale data center, hyperscale data center and others. Based on industry vertical, the market is segmented into BFSI, manufacturing, IT and telecom, media & entertainment, healthcare, government & defense, retail, energy and others. Based on geography the market is segmented into North America, Europe, Asia Pacific 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.
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.