Data Center Cooling Market to Attain 12%+ Growth to 2024
SELBYVILLE, Del., Nov. 27, 2018 /PRNewswire-PRWeb/ -- The global data center cooling market is set to grow from its current value of USD 8 billion to over USD 20 billion by 2024. A rapid increase in the number of data centers across the world has resulted in a consistent demand for cooling equipment, fueling the market. A rise in the number of internet users and related devices has resulted in the need for enterprises increasingly focusing on expanding their data centers. There has been a rising focus among the enterprises to increase the efficiency of the data centers, promoting cost-saving operations. These factors are pushing the market growth.
The increasing trends of applications for green data centers are anticipated to increase the demand for data center cooling market. Green data centers rely on renewable sources of energy for operation and cooling of the data centers, not hampering the environment. Additionally, government initiatives across the world to reduce the power consumption and control the environmental hazards caused by the data centers have resulted in the growing demand for green data centers, and thereby the market.
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The services segment is expected to witness growth in the data center cooling market due to the demand from the customers to efficiently manage the facility and gain insights for better management. The maintenance service providers help in minimizing the maintenance of the underutilized equipment so that the Power Usage Effectiveness (PUE) can be lowered. They also carry out the inspection under the raised floor as most of the cooling equipment is kept there. This makes the operators more aware of any kind of potential issues such as rodent, water droppings, any loose floor foundations and openings in the surrounding walls.
The rack/row based technique is predicted to witness a high growth over the forecast timeline in the data center cooling market owing to the need to provide precise cooling as the airpaths are smaller. It also helps in ensuring cooling capacity and redundancy to be targeted to actual needs of specific rows. Rack/row-based technique provides advantages such as high speed, flexibility, and density with less cost. In addition, the electricity costs for a row-based are generally lower than the room-based practice as the CRAH components are closely sized and coupled with the load.
Liquid cooling techniques are anticipated to show the highest growth in the data center cooling market during the forecast timespan. These solutions utilize technologically-advanced engineered coolants that decrease the overall carbon footprint, making them environment-friendly. Additionally, these solutions offer a more effective cooling for high-powered and intense data center operations.
The colocation application segment is predicted to grow substantially in the market due to high demand for scalability, price transparency and edge connectivity benefits offered by the facility. In addition, the ability to offer scaling of the capacity easily and lower the network latency will also fuel the industry demand.
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The BFSI application segment will grow at a significant rate in the data center cooling market due to the rising inclination of the consumers for online banking services resulting in rise in enormous amount of data to be managed, fueling the demand for a greater number of data center. The trend toward on-demand services and infrastructure consolidation will also fuel the demand. The wide scale adoption of smart devices and consumer demand to protect the financial assets and information property is anticipated to drive the demand for the market to increase efficiency and cost effectiveness of the infrastructure.
The data center cooling market in Asia Pacific will observe high growth accredited to rising number of data centers in the region due to the increasing demand for digitalization due to the convenience offered. The facilities help in supporting the digitalization trend as it significantly reduces the carbon emissions and overall energy consumption. Many key players such as Equinix are investing to construct these facilities due to the long-term economic prospects and the increasing penetration of the internet in the region. In addition, the flourishing telecommunication industry and the demand for the availability of critical data will fuel the market growth in the region.
Players in the data center cooling market include Rittal GmbH & Co. KG, Black Box Corporation, Airedale International Air Conditioning Ltd., Nortek Air Solutions, Schneider Electric SE, LLC, and AdaptivCOOL. Players are expected to adopt various strategies such as entering into mergers & acquisitions to maintain a strong foothold in the market.
Browse key industry insights spread across 250 pages with 218 market data tables & 33 figures & charts from the report, "Data Center Cooling Market Size By Component (Solution {Chilling Unit, Air Conditioner, Cooling Tower, Control System, Economizer, Liquid Cooling System}, Service {Consulting, Maintenance & Support, Installation & Deployment}), By Cooling Technique (Rack/Row Based, Room Based), By Application (IT & Telecom, BFSI, Retail, Energy & Utility, Healthcare, Colocation), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Russia, Spain, China, India, Japan, Singapore, Australia, Brazil, Colombia, Chile, Peru, Argentina, Bolivia, Venezuela, Saudi Arabia, UAE, South Africa), Application Potential, Competitive Market Share & Forecast, 2017 - 2024" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/data-center-cooling-market
Table of Contents (ToC) of the report:
Chapter 6. Data Center Cooling Market, By Application
6.1. Market share, by application, 2016 & 2024
6.2. IT & Telecom
6.2.1. Market estimates and forecasts, 2013 - 2024
6.3. BFSI
6.3.1. Market estimates and forecasts, 2013 - 2024
6.4. Retail
6.4.1. Market estimates and forecasts, 2013 - 2024
6.5. Energy and utility
6.5.1. Market estimates and forecasts, 2013 - 2024
6.6. Healthcare
6.6.1. Market estimates and forecasts, 2013 - 2024
6.7. Colocation
6.7.1. Market estimates and forecasts, 2013 - 2024
6.8. Others
6.8.1. Market estimates and forecasts, 2013 - 2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/data-center-cooling-market
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