The global data center cooling solutions market size is expected to grow by USD 4.55 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced the latest market research report titled Global Data Center Cooling Solutions Market 2020-2024 (Graphic: Business Wire)
The expanding adoption of advanced technologies, such as cloud-based services and big data analytics has stimulated the demand for data centers among CSPs, government agencies, and telecommunications organizations. In terms of the market, the developed countries are witnessing higher investments in data center construction, while the need for modern technological solutions is triggering the growth of data centers in developing countries. Moreover, data center operators are renovating their existing facilities to operate as green data centers by reducing both power consumption and greenhouse gas (GHG) emissions. Therefore, data center operators are expected to adopt a variety of advanced cooling techniques that are cost-effective and consume less power. Thus, the increased demand for data centers will drive the growth of the market during the forecast period.
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As per Technavio, the rising need to reduce OPEX will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Data Center Cooling Solutions Market: Rising Need to Reduce OPEX
Data center infrastructure has evolved considerably in the past few years owing to an increase in the use of modern technologies that has triggered the growth of application workloads in data centers. Despite extensive R&D in the data center space to bring about a reduction in OPEX, data center operators have struggled to develop an infrastructure that consumes less power and requires minimal maintenance. Cooling systems consume an estimated 40% of the power supplied to data centers. This is driving the demand for efficient cooling solutions that can offer adequate cooling to data center environments at low costs and reduce power consumption. Enterprises and government agencies have been working on designing new data centers with effective cooling solutions. Free cooling is an emerging technology that has seen considerable adoption among data centers in many regions as it delivers maximum efficiency and consumes less power. The technology has paved the way for the introduction of innovative cooling solutions, thereby driving the market growth.
"Factors such as the growing traction toward immersion cooling solutions, and the increase in the design of containment cooling solutions will have a significant impact on the growth of the data center cooling solutions market value during the forecast period," says a senior analyst at Technavio.
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Data Center Cooling Solutions Market: Segmentation Analysis
This market research report segments the data center cooling solutions market by geography (APAC, North America, Europe, South America, and MEA) and application (air conditioning, economizers, cooling towers, chillers, and other).
The APAC region led the data center cooling solutions market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the exponential growth in data traffic, and the high concentration of mobile computing device OEMs.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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