Data Center Rack Market Research Report | Industry Size USD 9.5 Billion by 2031

The report estimates that the global data center rack market earned $3.9 billion in 2021 and would grow at a CAGR of 9.7% from 2022 to 2031 to reach $9.5 billion.

The adoption of data center rack technology by businesses to improve operations and efficiency, as well as the rising popularity of server virtualization and remote control, are what are driving the worldwide data center rack market. Data security, UPS battery failures, and poor power management, however, limit industry expansion. On the other hand, in the upcoming years, the worldwide graphene electronics market will experience new growth prospects due to strict security requirements and rising need for more portable and scalable server kinds.

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On the basis of rack type, the cabinets/enclosed racks segment contributed to the largest share of around two-thirds of the global data center rack market revenue, and is expected to retain its dominance by 2031. Also, the same segment would portray the fastest CAGR of 10.6% during the forecast period. This is due to the rise in prominence of data center racks and cabinets as essential components of the IT infrastructure of business.

Based on component, the solution segment garnered the highest share in 2021, holding more than two-thirds of the global data center rack market revenue, and is expected to retain its dominance by 2031. This is due to advances in technologies enabling data center rack to transform industries including manufacturing, healthcare, and others. However, the service segment is projected to witness highest CAGR of 11.5% from 2022 to 2031. The adoption of data center rack services enhances software implementation, maximize the value of existing installation by optimizing it, and minimize the deployment cost and risks. These factors are projected to fuel the segment's growth.

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Key Trends in the Data Center Rack Market:

• Growing demand for high-density racks: As data centers become increasingly complex, there is a growing need for high-density racks that can accommodate more equipment per square foot. These racks are designed to handle higher power and cooling requirements, allowing data centers to maximize their capacity and efficiency.

• Rise of edge computing: Edge computing is becoming increasingly popular as more devices and applications generate data at the edge of the network. This has led to a need for smaller, more compact racks that can be easily deployed in remote locations.

• Modular and scalable designs: Data center operators are looking for racks that can be easily expanded or reconfigured to meet changing needs. Modular and scalable designs offer flexibility and allow for easy upgrades and changes without having to replace the entire rack.

• Increased adoption of liquid cooling: Traditional air cooling methods are becoming less efficient as rack densities increase. Liquid cooling systems are becoming more popular as they offer greater cooling efficiency and can reduce energy consumption.

• Growing focus on sustainability: With concerns around climate change and energy consumption, data center operators are looking for more sustainable solutions. Racks made from environmentally-friendly materials, as well as those that use energy-efficient cooling methods, are becoming increasingly popular.

• Advancements in rack management software: The rise of software-defined data centers has led to increased demand for rack management software that can monitor and control power usage, cooling, and other key metrics in real-time.

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In terms of region, the data center rack market was dominated by North America in 2021. There will be attractive potential for the market in this area as a result of the adoption of data center racks developing rapidly in response to the rising expectations from today's enterprises to better their business processes and the customer experience.

The key players that operate in the data center rack market analysis are Black Box, Eaton Corporation, Great Lakes Data Racks & Cabinets, Oracle Corporation, Schneider Electric, Hewlett Packard Enterprise Development LP, Fujitsu, Dell Technologies Inc., Rittal GmbH & Co. KG, Samsung Electronics Co., Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the data center rack industry.

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