Data Center Cooling Market To Reach USD 36.7 Billion By 2032 | DataHorizzon Research
The data center cooling market size was valued at USD 12.2 Billion in 2023 and is projected to reach USD 36.7 Billion by 2032 at a CAGR of 13.1%.
Fort Collins, Colorado, May 06, 2024 (GLOBE NEWSWIRE) --*The demand for data cooling centers is rising rapidly in several business sectors.*
The global demand for data centers is rising rapidly alongside the exponential increase in data generation worldwide. However, data centers, while essential for managing this data influx, come with high power consumption, leading to significant heat generation. This necessitates the urgent implementation of cooling equipment within data centers. Given the immense heat generated during data center operations, maintaining an ambient temperature is crucial. Excessive heat from processors can potentially harm servers and other critical systems, disrupting the flow of information and risking data loss. Consequently, data centers require consistent and efficient cooling to mitigate these risks, thereby driving the anticipated growth of the global *data center cooling market.*
The primary focus of top companies in the data center cooling sector lies in research and development (R&D) expenditures aimed at innovating energy-efficient products with optimal operational efficiency. These market leaders prioritize enhancing product performance to effectively meet customer demands. Manufacturers dedicate significant efforts to providing customers with fully functional cooling systems that seamlessly integrate with existing infrastructure. Additionally, they emphasize negotiating with suppliers to mitigate risks associated with future raw material acquisitions. While many market participants engage in some degree of vertical integration across design, production, and assembly stages, most manufacturers concentrate on specific segments of the value chain.
Amidst growing pressure from environmentalists, the general public, and governmental bodies, data center cooling manufacturers are committed to producing lucrative and sustainable cooling technologies. There's an increasing demand for cost-effective and eco-friendly cooling solutions, driving the expansion of the data center cooling market.
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*Segmentation Overview:*
*The data center cooling market has been segmented into solution, service, industry, and region.*
*MSMEs registered a massive growth in 2023 and is projected to retain a leading position in the coming years.*
· Based on solution, the data center cooling market segmentation comprises Installation, support, and maintenance. Installation services witnessed huge demand in the past few years and accounted for a dominant market share in 2022. Moreover, MSMEs have substantially invested in hardware to keep their data centers intact and other vulnerabilities.
*IT is the leading industry for data center cooling and is projected to retain a leading position in the coming years.*
· The data center cooling market is segmented by industry into IT, BFSI, healthcare, and government. The IT industry has been a pioneer in using cooling centers to maintain its servers. The IT sector has also been spending huge amounts to implement robust methods to keep its data safe on servers.
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*Data Center Cooling Market Report Highlights:*
· The data center cooling market growth is anticipated at a *CAGR of 13.1% by 2032.*
· The primary component of the business strategies of the top companies in this sector is research and development expenditures aimed at creating innovative, energy-efficient goods with optimal operating efficiency. The major players in the market look for ways to enhance product performance and effectively satisfy customer demands.
· North America emerged as a market leader and accounted for positive market share in 2022, based on the presence of data-intensive companies and start-ups in the region.
· Some prominent players in the data center cooling market report include Mitsubishi Electric Corporation, Johnson Controls International Plc, Schneider Electric S.E., Asetek Inc., Rittal GmbH, Nortek Air Solutions, Vertiv Co, Munters Group AB, Liquid Cool Solutions Inc., STULZ GMBH.
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