PORTLAND, Oregon, Sept. 30, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Data Center Cooling Market by Component (Solution and Service), Type of Cooling (Room-Based Cooling, Rack-Based Cooling, and Row-Based Cooling), Type of Data Center (Enterprise Data Center, Colocation Data Center, Wholesale Data Center, and Hyperscale Data Center), Industry Vertical (BFSI, Manufacturing, IT & Telecom, Media & Entertainment, Retail, Government & Defense, Healthcare, Energy, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025". According to the report, the global data center cooling market was pegged at $8.38 billion in 2017 and is projected to reach $23.22 billion by 2025, registering a CAGR of 13.7% during the forecast period.
Prime determinants for growing market
Rise in demand for efficient and cost-effective data centers, green initiatives for eco-friendly data center solution, and substantial growth with data center and power density have boosted the growth of the global data center cooling market. However, requirement of specialized infrastructure and higher investment cost coupled with cooling challenges during power outage hamper the market. On the contrary, advent of liquid-based cooling and portable cooling technology and growth in requirement for modular data center cooling approach are expected to create lucrative opportunities in the near future.
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Solutions segment dominated the market
By component, the solution segmented dominated the market in 2017, accounting for nearly two-thirds of the market, owing to rise in adoption of energy-efficient, environment-friendly, and cost-effective cooling solutions due to the stringent environment safety rules imposed by government. However, the services segment is projected to manifest the fastest CAGR of 15.6% during the forecast period, as implementation of services ensures the effective functioning of solutions with transparency and control throughout the process.
Room-based cooling held the lion's share
The room-based cooling segment held the largest share in 2017, contributing nearly half of the market, owing to its low investment and increased adoption in high raised floor data centers as it facilitates better air circulation in such data centers. However, the rack-based cooling segment is projected to register the fastest CAGR of 16.5% through 2025, owing to its ability to provide precise conditions in close proximity, which is targeted at the banks with server cabinets.
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North America ruled the market
The market across North America held the largest share in 2017, contributing nearly half of the market, owing to growth in big data and cloud adoption and presence of companies such as Google and Microsoft. However, the market across Asia-Pacific region is projected to register the fastest CAGR of 18.2% during the forecast period, owing to rapid industrialization in developing countries in regions such as India and China and increased number of data centers. The report includes analysis of the market across other regions such Europe and LAMEA.
Torchbearers of the market
- Schneider Electric Se
- Nortek Air Solutions, LLC
- Black Box Corporation
- Hitachi, Ltd.
- Emerson Electric Co.
- Fujitsu Ltd.
- Rittal Gmbh & Co. Kg
- Stulz Gmbh
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SOURCE Allied Market Research