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Data Center Cooling Market Growing at a CAGR of 13.17% - Top Impacting Growth Factors
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Amongst all verticals, telecom and IT, are the major contributors to the market revenue of the data center cooling market. The growing number of applications in healthcare and retail sector have a good scope in the data centre cooling solutions. A large amount of data processing is required due to the rapid increase in e-commerce sites and growth in hospital data. Banking, financial services and insurance (BFSI), Energy and others sector will prove as a moderate contributor, in terms of revenue, for the global data centre cooling market. The cooling technology giant, Emerson, launched an extended-size version of the ultra-silent outdoor coil condenser for data centre cooling systems which features an increased capacity of 220KW.
Comprehensive and Competetive Analysis of Dominating Market Players
•Emerson Electric
•Schneider electric
•International Business Machines Corporation
•Hitachi Ltd.
•HP Development Company L.P.
•AdaptivCOOL
•Rittal GmbH & Co. KG
•Stulz USA
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Increase in data volume and cloud adoption are the major market drivers for the growth of this market. The North American region will prove to be a major revenue contributor in the data center cooling market during the forecast period. However, with the rise in industrialization, the Asia-Pacific market would also be a key region in the cooling market.
The growth of the data center cooling market is supplemented by big data processing which requires more cooling solutions. Companies like Emerson, Schneider, and Rittal are enhancing their cooling capacity to reduce extra power consumption. In order to gain higher market share, companies are adopting product launches along with acquisition and partnership as prime strategies.
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