Data Center Cooling Market is Set to Significant Growth with High CAGR Value by 2027
Data center cooling market are witnessing significant demand across the globe, owing to the increased burden of accommodating the excessive amount of data generated through online mediums. A substantial rise in the number of data centers and their growing storage capabilities is driving the deployment of cooling solutions.
Environmental concerns related to emissions, caused by data centers are influencing authorities to enforce norms for the adoption of emission-efficient cooling systems. In order to fall in line with emission control measures, data center operators are favoring the use of liquid cooling technology.
According to Global Market Insights, Inc., report, global data center cooling market size is expected to cross over US$30 billion by 2027. Below mentioned are some factors propelling the adoption of various solutions across data center facilities.
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Enhanced data center cooling services
The maintenance and support services segment of the data center cooling industry is predicted to grow at a notable pace in the forthcoming years. A reliable, secure, and efficient cooling system plays a key role in maintaining maximum efficiency and optimal performance of data center facilities. The regular maintenance and service of the solutions eliminate the instances of system downtime, capacitor or battery failure, clogged air filters, outdated firmware, welded relays, and helps in reducing the extra cost of repair and component replacement.
Adoption across BFSI sector
The data center cooling industry share from the BFSI sector is slated to witness exponential expansion by 2027. The BFSI sector, which comprises commercial banks, non-banking financial companies, insurance companies, cooperatives, and other financial entities, heavily relies on data center facilities to securely store a large amount of confidential data. The recent trends in online banking services, such as Unified Payment Interface (UPI), online fund transfer, mobile banking, digitalization, and others, are putting extra burden on data centers, resulting in the high adoption of efficient cooling systems.
Demand for evaporative cooling towers
The cooling towers segment is expected to register a considerable market share across the data center cooling market by 2027, owing to the soaring demand for energy-efficient technologies. Datacenter operators favor the deployment of evaporative cooling towers, as they reduce water requirements in cooling down the facilities.
These cooling towers are mostly deployed in low humidity and high-temperature environment and can lower the temperature up to 15°C. Lower maintenance cost, reduced noise pollution, and higher efficiency are some notable features of the equipment, which increase their adoption over mechanical cooling systems.
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Presence of large datacenter operators in South America
The South America data center cooling industry share in the global market is slated to grow significantly, on account of the surging number of regional data center facilities. Various tax incentive schemes are attracting datacenter owners and colocation operators to expand their businesses in the region. For example, Google LLC, in May 2021, acquired a building situated in a duty-free tax zone in the Canelones, Uruguay. Evidently, soaring construction of data center facilities by private players is likely to boost the deployment of data center cooling solutions across South America.
Coolcentric, Airedale International Air Conditioning Ltd., Nortek Air Solutions, Black Box Corporation, Liquid Cool Solutions, Inc., T-Systems SA, CenturyLink, and Asetek AS, are some prominent companies operating in global data center cooling market. These industry players are eyeing on leveraging technologies to develop nature-friendly, affordable, and energy-efficient cooling technologies. Moreover, the emergence of modern technologies, such as IoT, 5G, AI, and ML, and the growing penetration of e-commerce businesses will inadvertently have a positive impact on the industry.
Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Scope & definitions
1.2 Methodology & forecast parameters
1.3 Impact of COVID-19
1.3.1 North America
1.3.2 Europe
1.3.3 Asia Pacific
1.3.4 South America
1.3.5 MEA
1.4 Data sources
1.4.1 Secondary
1.4.2 Primary
Chapter 2 Executive Summary
2.1 Data center cooling market 360º synopsis, 2017 – 2027
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Component trends
2.1.4 Cooling technique trends
2.1.5 Application trends
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