Press release
Data Center Rack Market to Witness Major Traction as a Result of Growing Adoption of Cloud Computing and Growing Investments in Data Center Infrastructure
Data Center Rack Market 2023
According to a report by SNS Insider, the value of Data Center Rack Market reached USD 4.97 billion in 2022 and is projected to reach USD 9.84 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.9% during the forecast period from 2023 to 2030.
A data center rack is a structure used to house and organize computer equipment, such as servers, network switches, storage devices, and other hardware components within a data center facility. It is designed to efficiently utilize space, provide cooling, and facilitate easy management and maintenance of the equipment.
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Major Key Players Included are:
• Schneider Electric SE
• Belden Inc
• Cisco Systems
• Chatsworth Products
• Dell Inc
• Hewlett Packard Development LP
• Oracle Corporation
• Rittal
• Fujitsu Limited
• Vertiv Group Corp
• Others
Market Analysis:
One of the key factors driving the future prospects of the data center rack market is the rapid adoption of cloud computing. Cloud service providers and enterprises are continuously expanding their data center infrastructure to meet the increasing demand for cloud-based services, including storage, computing power, and software applications. This expansion requires the deployment of a large number of data center racks to accommodate the growing server and networking equipment.
Impact of Recession:
Recessions can have a negative impact on the data center rack market due to reduced overall IT spending, postponed or canceled data center projects, and longer equipment replacement cycles. However, certain factors such as the demand for colocation services, cloud computing, and emerging technologies can mitigate the decline in rack demand. As the economy recovers, the market may experience a rebound driven by pent-up demand for infrastructure expansion.
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Segmentation Analysis:
The data center rack market is experiencing a notable shift in dominance, with the solutions and healthcare segments emerging as dominant forces. Integrated solutions that optimize power, cooling, and space utilization are in high demand across industries. Simultaneously, the healthcare sector's data-intensive nature and stringent regulatory requirements have made it a significant contributor to the growth of the market. As businesses continue to embrace digital transformation and prioritize data security, the solutions and healthcare segments are set to dominate the market in the coming years.
Market Segmentation and Sub-Segmentation included are:
On The Basis of Component:
• Solutions
• Services
On The Basis of Rack Type:
• Cabinets
• Open Frame
On The Basis of Data Center Size:
• Large Data Centers
• Small and Mid-sized Data Centers
On The Basis of Industry Verticals:
• Healthcare
• Transportation
• Energy & Utilities
• IT & Telecommunication
• Banking, Financial Services and Insurance (BFSI)
• Government & Defense
• Media & Entertainment
• Others
Regional Status & Analysis:
The Asia Pacific region has emerged as a powerhouse in the global data center rack market, driven by rapid infrastructure development, a robust digital transformation landscape, and a conducive business environment. With its large-scale data center deployments, thriving emerging markets, and a focus on sustainable solutions, APAC is set to maintain its dominance in the foreseeable future. Data center rack manufacturers and vendors aiming to succeed in this evolving market must prioritize the unique demands and requirements of the Asia Pacific region.
Conclusion:
The market is poised for a promising future. The increasing demand for data storage, cloud computing, edge computing, and energy-efficient solutions will continue to drive the growth of this market. Technological advancements and innovative designs will further enhance the capabilities and functionalities of data center racks, making them an essential component of modern data center infrastructure.
Frequently Asked Questions:
Q1) What is the projected outlook for data center rack market growth?
Ans: The market is projected to surpass a value of USD 9.84 billion by the year 2030.
Q2) What are the major factors influencing the data center rack market?
Ans: The market is also witnessing advancements in technology, such as the integration of intelligent features and modular designs.
Q3) Who are the leading players in the data center rack market?
Ans: Schneider Electric SE, Belden Inc., Fujitsu Limited, Hewlett Packard Development LP, Oracle Corporation, Cisco Systems, Inc., Chatsworth Products, Dell Inc., Rittal, and Vertiv Group Corp.
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Table of Contents - Major Key Points:
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1. COVID-19 Impact Analysis
4.2. Impact of Ukraine- Russia war
4.3. Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
8 Data Center Rack Market Segmentation, by Component
9. Data Center Rack Market Segmentation, by Rack Type
10. Data Center Rack Market Segmentation, by Data Center Size
11. Data Center Rack Market Segmentation, by Vertical
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion
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Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
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About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Our staff is dedicated to giving our clients reliable information, and with expertise working in the majority of industrial sectors, we're proud to be recognized as one of the world's top market research firms. We can quickly design and implement pertinent research programs, including surveys and focus groups, and we have the resources and competence to deal with clients in practically any company sector.
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