Data Center Cooling Market
Data Center Cooling Market: Global Market Size, Trends, Competitive, Historical & Forecast Analysis, 2020 – 2030- The increasing penetration of 4G and 5G networks along with surge in number of data centers are the key driving factors of the data center cooling market.
The Global Data Center Cooling Market was valued at USD 10.49 billion in 2019 and is predicted to reach USD 34.02 billion by 2030 with a CAGR of 11.2% during the forecast period.
Improvement in IT infrastructure coupled with rise in the usage of cloud-based applications has increased the demand for data centers. Increase in the number of data center establishments has paved the way for cooling solutions. Data centers remain active and process data 24*7. The servers and other processing equipment require temperature management in order to maintain the efficient work flow. Also, the penetration of 4G and 5G network has propelled the growth of data center cooling market. The growing popularity of data center cooling solutions has triggered more cost effective and eco-friendly alternatives. Additionally, technological advancements along with improvement in IT infrastructure are also expected to boost the market growth.
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The major market players of the data center cooling are Asetek, Black Box Corporation, Emerson Electric Co., Fujitsu Limited, Hitachi Ltd., Nortek Air Solutions, Rittal GMBH and Co. KG, Stulz GMBH, Schneider Electric, Vertiv Co. and more.
The data center cooling market is segmented on the basis of component, type of cooling, type of data center, industry vertical and geography. Based on component, the market has been segmented into solutions and services. Solutions is further sub segmented into air conditioner, air handling unit, chiller, cooling tower, pumps and other solutions. Service is sub segmented into installation and deployment, support and maintenance and consulting. Based on type of cooling the market has been segmented into room based cooling system, rack based cooling system and row based cooling system. Based on type of data center, the market has been segmented into enterprise data center, colocation data center, wholesale data center, hyper-scale data center and other data center. Based on industry vertical, the market is segmented into BFSI, manufacturing, IT and telecom, media and entertainment, retail, government and defense, healthcare, energy and other industry vertical. In terms of geographical analysis, the market is categorized into North America, Europe, Asia Pacific and Row.
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Recent analysis indicates that North America is leading in the global data center cooling market due to improved infrastructure and technological innovations. However, Asia Pacific is expected to grow rapidly in terms of market size during the forecast period due to the penetration of 4G and 5G networks along with rise in the use of cloud-based applications. Strategic collaborations between big markets players is a commonly adopted strategy used to maintain market dominance.
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