Data Center Cooling Market valuation will reach USD 43.45 billion by the end of 2030
The Global Data Center Cooling Market size is estimated to be USD 10.79 billion in 2019 and is predicted to reach USD 43.45 billion by 2030 with a CAGR of 13.5% from 2020-2030. Data Center Cooling is a system used by the data centers which works 24*7 and process the huge amount of data on a large scale which dissipates the huge amount of heat and to prevent the damage from overheating. This generates the need of cooling which maintains the temperature and avoid the overheating damage to the system and helps it to work efficiently.
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There has been constant increase in the technological advancement over the period of time which is coupled with increased demand of developed infrastructure. Furthermore, there have been tremendous growth in the data based firms which produces large amount of data and process it constantly are expected to support the growth of data cooling centers market.
The other factors include initiatives towards eco friendly and green data centers and increase in the demand of cost effective and efficient data centers to provide uninterrupted service are also expected to promote the growth of data enter cooling market. However, power outage and adaptability issues with respect to requirements are expected to hamper the market growth. Moreover, increase in cloud deployment, IoT and increase in IT infrastructure are expected to create ample opportunities in the data cooling centers market over the forecast period.
Market Segmentations and Scope of the Study:
The global data center cooling market share is analyzed on the basis of component, type of cooling, data centers, industry vertical and geography. Based on component, the market is segmented into services and solutions. On the basis of type of cooling, the market is divided into Room-Based Cooling, Rack-Based Cooling, and Row-Based Cooling. On the basis of data centers, the market is divided into Enterprise Data Centers, Colocation Data Centers, Wholesale Data Centers, and Hyperscale Data Centers. On the basis of industry vertical, the market is divided into BFSI, Manufacturing, IT & Telecom, Healthcare, Government & Defense, Retail, Energy, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America is expected to hold the major market share over the forecast period owing to the developed infrastructure coupled with advanced technology. Furthermore, increase in data based firm with huge amount of data and increase in eco friendly and cost-effective data centers are expected to accelerate the market growth.
Asia Pacific is expected to develop tremendously over the forecast period with constant increase in market size owing to the increase in IT industry coupled with increased use of IoT with wide applications and increase in advanced technology are further expected to augment the growth of data center cooling market.
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The data center cooling market, which is highly competitive, consists of various market players. Some of the major market players include Black Box Corporation, Schneider Electric Se, Emerson Electric Co., Nortek Air Solutions, LLC, Rittal Gmbh & Co. Kg, Hitachi, Ltd., Stulz Gmbh, Fujitsu Ltd., Asetek and Vertiv, among others.
Over the period of time there have been various developments taken place in the past and will further takes place in the near future. For instance, in April 2019, Nortek Air Solutions, LLC, has announced the use of its patented StatePoint Technology in two buildings at the Facebook data center in Clonee, Ireland. Facebook announced the Clonee Data Center will continue to be one of the most advanced, energy efficient data centers in the world and will be supported by 100% renewable energy.