Market Overview
As per the recent research, the global Data Center Cooling Market Size in 2019 is registered at $10,541.8 million and is estimated to grow at a significant CAGR of 12.8% with market size of $27,308.7 million during the forecast period 2020-2027.
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Datacenter cooling is highly demanded by the data center operators for its beneficial features like energy-efficient, eco-friendly, and cost-effective nature. Owing to the rise in usage of 4G LTE networks, there is a rise in the number of data centers which further leads to a rise in demand for data center cooling solutions that reduces the overall IT cost for data centers. In data centers to maintain the temperature within a permissible limit, the cooling solutions are used by the data center operators. To process the huge chunks of data, there is a requirement of data centers working efficiently 24/7. During the data processing, there is a requirement for cooling the equipment to prevent damage due to overheating. Air-based and water-based are two types of cooling systems.
Rising public pressure, environmentalists, and government agencies for taking the initiatives of preserving the environment leads to adopting the eco-friendly solutions by most of the companies, accelerating the growth of the market. Growing awareness for green data, efficiency improvement in data centers, and rising construction of data centers in the Asia-Pacific are boosting the market growth.
The Data Center Cooling Market Size opportunities are increasing humidity control, high airflow, remote monitoring, troubleshooting, improvement in air filtration, high-temperature control, and instant accuracy in temperature control.
Market Segmentation:
The Data Center Cooling Market Size is analyzed into four segments based on the components, cooling type, service, and organization.
Component Segmentation: The Data Center Cooling Market Size components are trifurcated into chillers, economizers, and server cooling.
Cooling Type Segmentation: Based on the cooling type, the Data Center Cooling Market Size is bifurcated into liquid and air.
Organization Segmentation: By organization, the Data Center Cooling Market Size is sectioned into SMEs, Vertical, Large Enterprises, BFSI, and energy.
Service Segmentation: The Data Center Cooling Market Size is partitioned into two forms professional service and managed service.
Regional Analysis:
By the latest report, the global Data Center Cooling Market Size based on the region is divided into four major regions such as North America, Europe, Asia-Pacific, and the Rest of the world. Among them, North America is holding the highest market share as the primary source of revenue comes from Texas and Virginia states. The usage of economizer or evaporative cooling systems is increased during the peak winter and summer which is fueling the market growth in this region. Asia-Pacific is expected to be the fastest-growing region due to the rising use of IoT in consumer electronics and smartphones.
The data center cooling market’s key competitors are The Mitsubishi Group (Japan), Hitachi, Ltd (Japan), Degree controls (U.S), Fujitsu, Ltd. (Japan), HP Development Company, L.P.(U.S), and others.
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Industry News:
According to the latest updates, the global Data Center Cooling Market Size forecast states that this service is expected to grow at a significant rate due to the rising investment in R&D, collaboration, product launches, mergers, and acquisition. Vertiv VRC-S, a rack cooling system with integrated equipment related to infrastructure support.
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