Pune, India, Feb. 12, 2021 (GLOBE NEWSWIRE) -- The global data centers cooling market size is projected to reach USD 11.97 billion by 2028. The increasing industrialization across the world will create several growth opportunities for companies operating in this market. According to a report published by Fortune Business Insights, titled “Data Center Cooling Market Size, Share & Industry Analysis, By Product (Air Conditioners, Precision Air Conditioners, Chillers, Air Handling Unit, and Others), By Data Center Type (Large Scale DC, Medium Scale DC, and Small Scale DC), By Cooling Technique (Room Based Cooling, Rack Based Cooling, and Row Based Cooling), By Industry (BFSI, IT and Telecommunication, Manufacturing, Retail, Healthcare, and Others) and Regional Forecast, 2021-2028,” the market size was USD 6.27 billion in 2018 and will exhibit a CAGR of 8.5% during the forecast period, 2021-2028.
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Data centers are physical network drives that store large data for companies and related organizations. The constantly rising IT sector has provided a massive potential for the growth of the market in recent years. The huge investments in the development of existing systems, as well as the emphasis on incorporating newer technologies, will have a direct impact on the growth of the market. The benefits offered by data cooling centers have led to wider product adoption. They help avoid data losses and subsequently minimize financial losses. The increasing adoption of data centers by leading companies across the world will have a direct impact on the growth of the market.
The report provides an in-depth analysis of the global data center cooling market. It highlights the latest product launches and recent innovations in the market and states their impact on the growth of the market. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years. Forecast values have been provided for the market for the period of 2021-2028. The factual figures have been obtained through trusted sources. Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals.
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Increasing Number of Product Launches Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Due to the huge potential held by the market, several companies are looking to better their existing portfolios. In August 2021, Schneider Electric announced the expansion of its data center solutions portfolio with the integration of enhanced and digitized versions of critical facility operations. These solutions are specifically designed for large data center operators. With benefits such as increased operational efficiency, lower risk, and maximum uptime, and efficient IT planning, the product is wet to witness huge demand in the coming years.
North America to Witness Considerable Growth; High Investments in Product Development to Aid Growth
The report analyzes the ongoing data center cooling market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these regions, the market in North America will emerge dominant in the coming years. The growing investment in data centers by large scale companies based in the United States will aid the growth of the market in this region. Besides North America, the market in Asia Pacific will witness considerable growth in the coming years, owing to the presence of several large scale companies across this region.
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Some of the leading companies that are operating in the global data centers cooling market are:
- ABB Ltd.
- Airedale Air Conditioning
- Asetek, Inc.
- Black Box Corporation
- Commscope
- Cormant, Inc.
- Device42, Inc.
- Emerson Electric Co.
- FNT GmbH
- Nlyte
- Nortek Air Solutions, LLC
- Optimum path Inc.
- Panduit
- Rackwise
- Schneider Electric
- Sunbird Software, Inc.
- Vertiv Group Corp.
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Industry Developments:
November 2021 - Sunbird Software announced the accessibility of its ‘dcTrack’. dcTrack is a data center infrastructure management (DCIM) operations software.
Table Of Content
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Porters Five Forces Analysis
- Global Data Center Cooling Market Analysis, Insights and Forecast, 2015-2028
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Product (Value)
- Air Conditioners
- Precision Air Conditioners
- Chillers
- Air Handling Unit
- Others (Air Economizers, Heat Rejection and Others)
- By Data Center Type (Value)
- Large Scale DC
- Medium Scale DC
- Small Scale DC
- By Cooling Technique (Value)
- Room-based Cooling
- Rack-based Cooling
- Row-based Cooling
- By Industry (Value)
- Banking, Financial Services, and Insurance
- IT and Telecom
- Manufacturing
- Retail
- Healthcare
- Others (Government & Defence, Energy, and Others)
- By Geography (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- By Product (Value)
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