Rapid penetration of digital services across industries spurring deployment of hyperscale data centers; rise in demand in multiple industries steering revenue generation in data center rack market
Wilmington, Delaware, United States, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Expansion of cloud computing services by numerous leading IT companies has propelled the adoption of various types of racks in data center. Burgeoning big data analytics, especially hinged on rising volumes of unstructured data, has nudged businesses in end-use industries to adopt data center rack layout best practices with aim to optimize space in data centers. The global data center rack market is projected to clock a CAGR of 12.8% from 2022 to 2031 (forecast period).
Focus of players to optimize server cabinet rack space in order to gain cost savings has propelled demand for products in data center racks and cabinets market. The TMR study on the data center rack market found that growing deployment of rack-mounted servers and blade servers has spurred solution providers to unveil advanced designs for housing cooling systems and telecom and networking equipment.
A number of data center racks manufacturers are leaning on offering racks that fits well into modular data center infrastructure, found the analysts for this TMR study. This has enabled prominent companies operating hyperscale data centers to adopt high density server racks, such as Google, Microsoft, and Amazon, observed the study authors.
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Key Findings of Data Center Rack Market Study
Advancements in Server Rack Configuration to Lead to Large Efficiencies: Growing investments on adopting data center rack management solutions has led to an uptick in demand for data center racks. Advancements in server rack configurations such as open racks are enriching the data center rack market prospects. Rise in number of whitespace installations in data centers is expanding avenues.
Rising Adoption among Businesses in IT & Telecom Sectors to Generate Sizable Revenues: Businesses in end-use industries notably IT & telecom sectors are keenly spending expanding data centers capabilities. Need for digitalization of services is generating impetus to this trend, which eventually will create lucrative demand in data center rack market. Key industries are also leaning on adopting colocation racks, observed the analysts.
Hyperscale Data Centers Drives Need for Efficient Data Center Rack Management: A perceptible shift from public cloud data centers to hyperscale data centers is unlocking new revenue streams in data center rack market. Solution providers are tapping into the incredible demand emerging from hyperscale data centers, underpinned by the trend that data center rack solutions have contributed to large cost and efficiency gains.
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Data Center Rack Market: Key Drivers
Massive push toward digitalization of services sector in several countries globally is a key driver of data center rack market. Rapid strides in cloud-based services in various industries have spurred the commercialization prospects of various types of data center racks.
Stridently growing development and deployment of hyperscale data centers worldwide will fuel the growth prospects of the data center rack market.
Data Center Rack Market: Regional Growth Dynamics
The TMR study found that North America is estimated to hold a key market share by 2022-end. The growth is propelled by sizable spending made by data centers by IT and telecom companies in the U.S. and Canada. Massive deployment of data centers has led to enormous lucrative opportunities in North America data center rack market over the past few years.
Asia Pacific market is replete with opportunities. Rapid expansion of the IT sector has created abundant opportunities for market players to tap into in recent years. Growing adoption of modular data center infrastructure by end-use industries in emerging economies will spur the demand for data center racks during the forecast period.
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Data Center Rack Market: Competition Landscape
Most key players in the data center rack market are spending sizably on R&D activities to power their product innovation strategies. Some of the key ones are Hewlett Packard Enterprise (HPE), Schneider Electric, Rittal GmbH & Co. KG, Oracle Corporation, Legrand SA, Huawei Technologies Co., Ltd., IBM Corporation, Fujitsu Limited, Eaton Corporation Plc, Dell Inc., Chatsworth Products, Inc., and Cisco Systems, Inc.
Data Center Rack Market Segmentation
Services (Design, Installation, Support & Maintenance)
43U to 52U
IT & Telecom
Energy & Utilities
Middle East & Africa
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