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By 2024, Data Center Cooling Market Growth Will be Driven by Rising Consumer Demand to Protect the Financial Assets and Information Property

Author : Ronak Bora | Published Date : 2019-04-02 

Data Center Cooling Market was over USD 8 billion in 2016 growing at a CAGR of over 12% over the forecast timeline. This growth is accredited to the rising sum of data centers worldwide to manage the enormous amount of data generated from various industries. The cooling equipment helps in removing excessive heat from the facility which is generated by the different IT equipment delivering a functionable environment.

The penetration of advanced cooling technologies such as liquid cooling solutions and hot/cold aisles will also offer opportunities to the industry. Furthermore, the increase in the unpredictable scaling capacities of the facility also demand an efficient cooling infrastructure which will boost the data center cooling market demand.

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The services segment is expected to witness growth in the data center cooling market due to the demand from the customers to efficiently manage the facility and gain insights for better management. The maintenance service providers help in minimizing the maintenance of the underutilized equipment so that the Power Usage Effectiveness (PUE) can be lowered. They also carry out the inspection under the raised floor as most of the cooling equipment is kept there. This makes the operators more aware of any kind of potential issues such as rodent, water droppings, any loose floor foundations and openings in the surrounding walls.

Moreover, these services are needed for the efficient management of the equipment and reduce the costs associated with equipment repair or failure. Efficient monitoring and management of tools can directly affect the data availability which makes the data center operators more inclined towards such services.

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The BFSI application segment will grow at a significant rate in the data center cooling market due to the rising inclination of the consumers for online banking services resulting in rise in enormous amount of data to be managed, fueling the demand for more number of data center. The trend toward on-demand services and infrastructure consolidation will also fuel the demand.  The wide scale adoption of smart devices and consumer demand to protect the financial assets and information property is anticipated to drive the demand for data center cooling market to increase efficiency and cost effectiveness of the infrastructure.

The data center cooling market in Asia Pacific is expected to witness significant growth owing to the flourishing financial sector in developing economies such as India. The rising requirement for cost effective and energy efficient solutions to minimize the energy consumption levels will have a positive impact on the industry in the region. Furthermore, the demand for cloud data centers will also augment the demand in the region.

Key players participating in the data center cooling market comprise Schneider Electric, Nortek Air Solutions, LLC, Rittal GmbH & Co. KG, Black Box Corporation, Airedale International Air Conditioning Ltd., and AdaptivCOOL.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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