Data Center Cooling Systems Market to be Dominated by BFSI Sector Through 2028
Data center cooling systems are being more widely used on a
worldwide scale owing to the increasing number of internet users and the rising
demand for digital services.
According to
TechSci Research report, “Data Center Cooling Systems Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028,” the global data center cooling
systems market is expected to grow at a significant rate in the upcoming years
due to the increasing adoption of cloud computing and the Internet of Things
(IoT). Data center cooling systems provide protection to data and devices at
the edge of the network, enabling businesses to mitigate security risks and
prevent unauthorized access to their systems.
The key drivers of the global
data center cooling systems market include the growing number of connected
devices and the increasing demand for real-time data processing. Organizations
are increasing their expenditures in the construction of new data center
facilities as a result of the ubiquity of cloud services, the increasing
significance of big data, and the rising penetration of connected devices. For
the next eight years, it is predicted that all of these variables will favor
the need for data center cooling systems. As a result, the need for cooling
solutions increases in direct proportion to the growth of data center
facilities throughout the world. The increasing spending on IT
infrastructure is opening up opportunities for new and expanded data center
construction across the world. Moreover, software-based data centers boost
industry expansion by offering a higher level of automation. The drive towards
digital transformation has increased the demand for scalable, secure, and
flexible data center infrastructure. As a result, the demand for the data
center cooling systems is expected to grow as expenditures in new data center
facilities increase.
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The Global Data Center
Cooling Systems market can be segmented by Cooling Strategies, End-Use Type, Service,
End User Industry, Region and Competitive Landscape.
On the basis of Cooling
Strategies, the market is segmented
into Free Cooling, Air Containment
and Closed Loop Cooling.
On the basis of End-Use
Type, the market is segmented into Tier-1, Tier-2 Tier-3
and Tier-4. In 2023, the biggest
market share is projected for the Tier 1 sector. The scales are now tipped in favor
of outsourced colocations due to commoditization and the constant evolution of
data center design. Colocation services have
the advantage of having a wealth of experience when it comes to constructing
facilities, which enables them to offer services at a competitive rate due to
the benefits of economies of scale. As a result,
electricity, energy, and cooling are provided at prices that are unavailable to
small businesses that build their own data centers. As a result, colocation
service providers run their facilities much more profitably. Businesses who are
building their own essential project facilities are no longer supported by the
return-on-investment paradigm. The sharp increase in demand for higher power
densities is another key factor in the development of the new IT network.
Problems have been brought on by virtualization and the ongoing attempt to fit
more workloads into the same footprint. Have created problems for existing data
centers designed for the purpose.
On the basis of Service, the market is further divided
into Installation/Deployment Services and Maintenance Services & Monitoring
Software.
On the basis of End User
Industry, the market is further split into oil & gas energy, BFSI, healthcare, government &
defense, IT & telecom, and others. By 2023, the IT& Telecommunications
sector is projected to hold the highest market share in the data center cooling
system market.. The IT & Telecom industry is forced to maintain its
facilities because of the rapid growth in demand for efficient data centers.
Moreover, dependability, energy use, and maintenance are being impacted by
this. The market for data center cooling systems is growing due to the demand
for effectively regulating thermal loads in telecom facilities and electronic
enclosures. Moreover, increased data center cooling system utilization enables
telecom clients to deploy additional communication hardware.
Key market players in the global
data center cooling systems market include:
- Siemon Company
- Asetek, Inc
- NTT Limited
- Schneider Electric SE
- STULZ GmbH
- Rittal GmBH & Co. KG
- Cisco Systems Inc
- Emerson Network Power
- Fujitsu Limited
- Vertiv Group Corp.
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“A data center cooling system
is a critical component of the data center industry, responsible for maintaining
the temperature and humidity levels required for optimal performance of IT
equipment. The global data center cooling systems market is driven by the need
for energy efficiency, cost savings, and emerging technologies such as AI and
IoT. However, the market also faces challenges, such as complexity, high cost,
and competition from alternative cooling solutions. The global data center
cooling system market is expected to continue to grow as the demand for cloud
computing services and digital transformation increases, and new technologies
emerge to provide more efficient and sustainable cooling solutions.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Data Center Cooling Systems Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Cooling
Strategies (Free Cooling, Air Containment and Closed Loop Cooling), By End-Use
Type (Tier-1, Tier-2, Tier-3, and Tier-4), By Service (Installation/Deployment
Services, Maintenance Services & Monitoring Software), By End User Industry
(Oil & Gas energy, BFSI, Healthcare, Government & Defense, IT &
Telecom, Others), By Region,” has
evaluated the future growth potential of global data center cooling systems
market and provides statistics and information on market structure, size, share,
and future growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the global data center
cooling systems market.
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