The immersion cooling market is projected to grow from USD 177 million in 2019 to USD 501 million by 2024, at a CAGR of 23.2% from 2019 to 2024
NEW YORK, Oct. 21, 2019 /PRNewswire/ -- The immersion cooling market is projected to grow at a CAGR of 23.2% from 2019 to 2024, in terms of value.
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The immersion cooling market is projected to grow from USD 177 million in 2019 to USD 501 million by 2024, at a CAGR of 23.2% from 2019 to 2024. Increasing server rack density & chip density, new IT use cases, such as harsh edge computing environments, and pressure to reduce energy consumption in data center cooling is expected to drive the immersion cooling market during the forecast period.
The high performance computing segment is projected to lead the immersion cooling market during the forecast period
Based on application, the high performance computing segment led the immersion cooling market in 2018 in terms of value.Growth of this segment can be attributed to the fact that the adoption of High Performance Computing (HPC) is gaining traction as enterprises across various industry verticals focus on scaling-up their complex applications.
However, this will increase server rack densities and result in making conventional cooling systems redundant and is expected to lead HPC customers to switch from traditional cooling methods to immersion cooling solutions.
The single-phase type segment is projected to lead the immersion cooling market during the forecast period
Based on type, the single-phase immersion cooling segment is estimated to account for the largest share of the immersion cooling market in 2019.In single-phase immersion cooling, the coolant never changes state, that is, it never boils or freezes and always remains in liquid form.
The coolant is pumped to a heat exchanger where heat is transferred to a cooler water circuit. This technique uses open baths, as there is little (or no) risk of the coolant evaporating.
Asia Pacific region is projected to grow the highest CAGR in the immersion cooling market during the forecast period
The Asia Pacific region is projected to grow at the highest CAGR in the immersion cooling market from 2019 to 2024.Increasing use of technologies, such as high-performance computing, artificial intelligence, edge computing, cloud computing, cryptocurrency mining, and enterprise computing, are leading to an increase in server rack and chip density.
This has resulted in high demand for energy for data center cooling.The costs and logistics of conventional cooling systems have become more challenging and are forcing data center operators to switch from traditional cooling methods to immersion cooling solutions.
The market is projected to grow rapidly in the Asia Pacific region, owing to the increased demand for immersion cooling from cryptocurrency miners in countries, such as China, Japan, India, and South Korea.
Profile break-up of primary participants for the report:
-- By Company Type: Tier 1 - 20%, Tier 2 - 55%, and Tier 3 - 25%
-- By Designation: C-level Executives - 50%, Directors - 25%, and Others - 25%
-- By Region: Asia Pacific - 10%, Europe - 20%, North America - 60%, the Middle East & Africa- 5%, and South America - 5%
Furthermore, as a part of the qualitative analysis of the immersion cooling market, the research provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing the growth of the market across the globe. It also discusses competitive strategies adopted by leading market players, such as Fujitsu Limited (Japan), Green Revolution Cooling Inc. (US), Submer Technologies (Spain), Allied Control Ltd. (Hong Kong), Asperitas (The Netherlands), Midas Green Technologies (US), Iceotope Technologies Limited (UK), DCX - The Liquid Cooling Company (Poland), LiquidCool Solutions (US), DownUnder GeoSolutions Pty Ltd. (Netherlands), ExaScaler Inc. (Japan), and Horizon Computing Solutions (France).
Research Coverage:
The report defines, segments, and projects the size of the immersion cooling market based on application, type, type of cooling fluid, and region.It strategically profiles the key players and comprehensively analyzes their market share and core competencies.
It also tracks and analyzes competitive developments, such as expansions, new product developments, partnerships, and collaborations undertaken by them in the market.
Reasons to Buy the Report:
The report is expected to help market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the immersion cooling market and its segments.This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the positions of their businesses and make suitable go-to-market strategies.
It also enables stakeholders to understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.
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