Emergence of liquid-based cooling and portable cooling technologies and growth in requirement for modular data center cooling approach are anticipated to provide lucrative opportunities for market growth. An increase in the demand for efficient and cost-effective data centers, green initiatives for eco-friendly data center solutions, substantial growth with data center and power density drive the market growth.
The global data center cooling market size was valued at $10,541.82 million in 2019, and is projected to reach $27,308.73 million by 2027, growing at a CAGR of 12.8% from 2020 to 2027.
Key industry players – the global data center cooling market size was valued at $10,541.82 million in 2019, and is projected to reach $27,308.73 million by 2027, growing at a CAGR of 12.8% from 2020 to 2027.Demand for data center cooling is on the rise across various industries as it enables maintaining environmental conditions suitable for information technology equipment (ITE) operations. Awareness around edge computing has increase across various industries and the COVID-19 pandemic is acting as a major driver to get industrial companies more interested in benefits related to edge computing in supporting remote operations, real-time control, and enhanced data-crunching capabilities. Large enterprises are affirming their readiness to invest in edge strategies, establishing a market beyond telecom companies and content players. Further, some companies are inclined toward revamping their existing data center cooling systems to make it less water-dependent.
Based on component, solution dominated the data center cooling market in the year 2019 and is expected to dominate the market in coming years, owing to the increase in number of energy efficient cooling solutions. Furthermore, air conditioners under solution sub-segment had the largest market share due to its energy-efficiency and cost-effectiveness. Moreover, with increase in number and higher density in data centers, there is a need for efficient cooling. Air conditioners with the help of air ducts circulate air in the high-density racks to maintain temperature within permissible limit. However, services in the component segment witnessed high CAGR growth in the data center cooling industry.
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Room-based cooling dominated the overall data center cooling market share in 2019 and is expected to continue this trend during the forecast period as it provides effective cooling at less cost. Furthermore, room-based cooling is anticipated to maintain large market share owing to the least use of pipes and ducts compared to other cooling types. Conversely, air conditioners and other air-based cooling circulate air to maintain temperature in data centers within permissible limit. Therefore, room-based cooling is gaining ground due to its energy-efficient cooling.
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