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The global data center cooling market size touched USD 13.51 billion in 2022 and is predicted to reach USD 14.85 billion in 2023. The market is anticipated to touch USD 30.31 billion by 2030, recording a CAGR of 10.7% over 2023-2030.
Fortune Business Insights™ presents this information in its latest report titled “Data Center Cooling Market Size, Share & COVID-19 Impact Analysis, By Product (Air Conditioners, Precision Air Conditioners, Liquid Cooling, Air Handling Unit, and Others), By Data Center Type (Large Scale, Medium Scale, and Small Scale), By Cooling Technique (Room-based Cooling, Rack-based Cooling, and Row-based Cooling), By Industry (BFSI, IT and Telecom, Manufacturing, Retail, Healthcare, Energy and Utilities, and Others), and Regional Forecast, 2023-2030”.
Data centers can help companies increase their productivity by offering centralized networking, storage, and backup solutions. The demand for better computing capacity of the computing networks is rising at a notable rate as there has been a considerable growth in the quantity of virtual data being generated each year. Data center cooling solutions can help organizations measure, monitor, and control data center resources and energy consumption of IT equipment. This equipment includes network switches, infrastructure components, and servers, and storage devices. More end-users are becoming aware of the advantages of these solutions, thereby augmenting the data center cooling market growth.
COVID-19 Pandemic Favored Product Adoption Due to Growing Preference for Cloud-based Servers
The COVID-19 pandemic had a favorable impact on the expansion of the market as many organizations migrated their services to various cloud platforms to reduce their spending on office hardware. Since the outbreak had forced companies to impose strict social distancing rules, it was difficult for companies to shift their physical servers, shut down their buildings, and open a new space to resume their operations. However, since companies saved a lot by using cloud services, it allowed them to spend more on their IT infrastructure. These factors drove the data center cooling market share.
Rising Demand for Sustainable Technologies to Augment Market Growth
A growing percentage of data center managers are realizing the impact their data centers can have on the environment since these centers produce a lot of heat and carbon emissions. This factor has prompted them to make environmental sustainability and energy efficiency their top priority. Companies can achieve strong business growth with the help of data centers as well by making optimum use of space, reducing their electricity consumption, and improving their cooling capacities. The trend of commercializing data centers has gained major traction as more companies are opting for outsourcing services to help them focus on core business activities. These developments will help the market grow.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/industry-reports/data-center-cooling-market-101959
Competitive Landscape
Market Players Use Key Growth Strategies to Boost Market Presence
Some of the prominent organizations working in this industry are trying to increase their customer base by implementing many corporate growth strategies, such as partnerships, mergers, and acquisitions. They are also focusing on expanding their existing product portfolios by investing in advanced technologies to develop new products.
Notable Industry Development:
List of the Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 10.7% from 2023 to 2030 |
Unit | Value (USD Billion) |
Segmentation | By Product, Data Center Type, Cooling Technique, Industry, and Region |
By Product |
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By Data Center Type |
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By Cooling Technique |
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By Industry |
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By Region |
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