Press release
Data Center Cooling Market Hit $27,308.73 Million by 2027 | Statistics, Growth, Size, Industry Trends, Top Companies.
Data Center Cooling Market
The global data center cooling market size was valued at $10,541.82 million in 2019, and is projected to reach $27,308.73 million by 2027, growing at a CAGR of 12.8% from 2020 to 2027.
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Increase in the demand for efficient and cost-effective data centers, green initiatives for eco-friendly data center solutions, substantial growth with data center and power density drive the market growth. However, requirement of specialized infrastructure and higher investment cost and cooling challenges during power outage is expected to hamper the growth of the global data center cooling market during the forecast period. Furthermore, emergence of liquid-based cooling and portable cooling technologies and growth in requirement for modular data center cooling approach are anticipated to provide lucrative opportunities for the market growth.
The hyperscale data center segment is expected to grow at the highest CAGR during the forecast period, owing the advent of cloud computing that in turn is expected to increase the need for cooling solutions.
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Competitive Analysis:
The competitive environment of Data Center Cooling Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Data Center Cooling Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Key Players:
Schneider Electric Se
Black Box Corporation
Nortek Air Solutions, LLC
Airedale International Air Conditioning Ltd.
Hitachi, Ltd.
Rittal Gmbh & Co. Kg
Fujitsu Ltd.
Stulz Gmbh
Vertiv Co
Asetek and Many More
Region wise, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
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Demand for data center cooling is on the rise across various industries as it enables maintaining environmental conditions suitable for information technology equipment (ITE) operations. Awareness around edge computing has increase across various industries and the COVID-19 pandemic is acting as a major driver to get industrial companies more interested in benefits related to edge computing in supporting remote operations, real-time control, and enhanced data-crunching capabilities.
Large enterprises are affirming their readiness to invest in edge strategies, establishing a market beyond telecom companies and content players. Further, some companies are inclined toward revamping their existing data center cooling systems to make it less water-dependent.
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