At an estimated value of over USD 11.95 billion in 2020, the global data center cooling market is predicted to thrive at a CAGR of 13.8% and valued at USD 42.67 billion by 2030.
The introduction of 4G and 5G networks along with the massive growth in data generation and processing have led to the surge in data centers. This increased number of data centers has created an extensive demand for data center cooling solutions. Cooling solutions are used in data centers to maintain the temperature. Since most of the data centers work 24*7 to process large amount of data, the processing equipment need to be cooled down in order to prevent overheating, which might damage the equipment.
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Lucrative growth opportunities makes the data center cooling market extremely competitive. Some of the major players in the market include 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 many more. Strategic alliances and acquisitions adopted by companies are among key strategies exercised to maintain market dominance. For instance, In August 2019, Schneider Electric announced the integration of improved and digitized versions of critical facility operations with intensions to expand its data center solutions portfolio. In November 2019, Digital Realty Trust, Inc., a company known for providing colocation, data center, and interconnected solutions, announced the establishment of its third center in Toronto, Canada.
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Market Segmentations and Scope of the Study:
The global data center cooling market share has been segmented on the basis of component, type of cooling, type of data center, industry vertical and geography. On the basis of component, the market is categorized into solution and service. Solution is sub segmented into air conditioners, air handling unit, chiller, cooling towers, pumps and others. Service is sub segmented into installation & deployment, support & maintenance and consulting. On the basis of type of cooling, the market is segmented into room-based cooling, rack-based cooling and row-based cooling. Based on type of data center, the market is segmented into enterprise data center, colocation data center, wholesale data center, hyperscale data center and others. Based on industry vertical, the market is segmented into BFSI, manufacturing, IT and telecom, media & entertainment, healthcare, government & defense, retail, energy and others. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.
North America is anticipated to hold the lion share of the market due to the presence of improved infrastructure and faster adoption of advanced technologies in this region. Companies in this region are focusing on implementing eco-friendly and cost-effective ways of cooling solutions. Also, the increased number of data centers in the U.S. and Canada is expected to contribute to the market growth. The Asia Pacific region is predicted to show rapid and consistent growth in market share within the forecast period due to the surging number of smartphones, laptops, and PCs as a result of booming population in this region, which in turn generates huge chunks of data and thereby raise the demand of data centers as well as cooling solutions. Moreover, countries in Asia-Pacific region such as India, China, Australia and Japan among others are focusing on data localization. Data localization efforts by various governments in this region, puts obligation on IT companies to store all the data collected in a particular country inside its national boundaries.
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