Press Release Description

Global Data Center Cooling Market Hit USD 12.35 Billion in 2023 & is Set to Record a CAGR of 13.8% During 2024-30

The Global Data Center Cooling Market size was valued at USD 12.35 billion in 2023 and is projected to grow at a CAGR of around 13.8% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. The industry is experiencing rapid growth driven by the exponential increase in global data generation and consumption. Bandwidth-intensive applications, cloud computing, and Internet-of-Things (IoT) devices drive greater demand for data centers, necessitating advanced cooling solutions for optimal performance, energy efficiency, and environmental sustainability.

As digital services become integral to various sectors and IT infrastructure expands, there is a pressing need for innovative cooling equipment to prevent downtime and meet eco-friendly standards, driving expansion in the market to align with emerging digital trends. Moreover, the market is witnessing significant growth, with modular & containerized cooling systems emerging as key drivers. These solutions offer adaptability & scalability, making them popular among operators looking to expand or modify their infrastructure easily. Hence, this trend towards flexible thermal management solutions enhances efficiency and performance across data centers.

Furthermore, the demand for data center cooling solutions is fueled by their ability to reduce carbon emissions and operational costs, promoting environmental and financial sustainability. Precise temperature and humidity regulation are crucial for optimizing server and networking equipment performance within data centers. By ensuring optimal environmental conditions, such as temperature and humidity levels, data centers can improve response times and overall operational efficiency. This focus on precision cooling solutions is expected to drive market expansion as organizations prioritize the reliability and performance of their data center infrastructure.

Besides, innovations like liquid cooling & AI-based optimization, are addressing the demand for enhanced and eco-friendly cooling methods. These advancements align with the evolving market landscape, bolstering the growth and importance of data center cooling solutions, further states the research report, “Global Data Center Cooling Market Analysis, 2024.”

Global Data Center Cooling Market

Global Data Center Cooling Market Segmentation Analysis

Research & Educational Institutes to Contribute Significantly to the Market Share

Based on the vertical segment, the market is further bifurcated into BFSI, IT and Telecom, Research & Educational Institutes, Government & Defense, Retail, Energy, Healthcare, and Others. Throughout the forecast period, the Research & Educational Institutes segment is projected to hold a substantial market share within the Data Centers Cooling Market. This prominence is driven by the escalating utilization of data centers by these institutions, augmented investments in technological enhancements for such facilities, and the imperative to curtail carbon emissions while conserving energy. Additionally, the mounting pressure stemming from ongoing digital evolution exacerbates existing infrastructure demands, thereby amplifying the growth prospects within this specific sector over time.

Asia-Pacific Dominating the Global Data Center Cooling Market

Asia Pacific dominated the Data Center Cooling Market by holding the largest market share. This region has seen tremendous growth due to its digitalization of business processes which increases productivity and reduces errors caused by manual intervention. The adoption rate is also high as tasks are migrated onto cloud computing platforms for vast storage capabilities and down-scaled routine workload management activities. Moreover, the Data Center Cooling Market in Asia-Pacific is increasing emphasis on IoT technologies has led to a significant surge in temperature control requirements to ensure uninterrupted equipment operation. This heightened demand has sparked a substantial growth wave in recent years, benefiting markets across the region.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Modine, STULZ Gmbh, Vertiv Group Corp., Fujitsu, Black Box, Green Revolution Cooling Inc., Submer, Asperitas, Iceotope Technologies Limited, Dug Technology, DCX Liquid Cooling Systems, Rittal Gmbh & Co. Kg, Schneider Electric, Munters, Asetek, Inc., Nortek Air Solutions, Llc, and Others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the Data Center Cooling Market?
  3. What key factors would propel and impede the industry across the globe?
  4. How has the industry been evolving in terms of geography and product & service adoption?
  5. How has the competition been shaping across the regions?
  6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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