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Data Center Cooling Market Demand, Growth Factors, Size, Share And Insights Report 2024 To 2033
Data Center Cooling Market
The Business Research Company offers in-depth market insights through Data Center Cooling Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The data center cooling market size has grown rapidly in recent years. It will grow from $14.66 billion in 2023 to $17.09 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to rapid growth in data centers, high-density computing, energy efficiency concerns, regulatory compliance, globalization of data storage, increased heat load per rack.
The data center cooling market size is expected to see rapid growth in the next few years. It will grow to $31.93 billion in 2028 at a compound annual growth rate (CAGR) of 16.9%. The growth in the forecast period can be attributed to renewable energy integration, focus on water conservation, heat recovery systems, modular data center solutions, integration of immersive cooling. Major trends in the forecast period include liquid cooling solutions, free cooling techniques, AI-driven cooling management, high-density cooling systems, edge data center cooling solutions, and cooling-as-a-service models.
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Market Segmentation:
The data center cooling market covered in this report is segmented -
1) By Data Centre Type: Large Data Centers, Enterprise Data Centers, Mid-sized Data Centers
2) By Cooling Technology: Rack/Row-Based, Room-Based
3) By Component: Solution, Service
4) By Industry: Banking, Financial Services and Insurance (BFSI), Information Technology (IT) And Telecom, Research And Academic, Government And Defense, Retail, Energy, Manufacturing, Healthcare, Other Industries
Major Driver - Eco-Friendly Solutions In The Data Center Market
Green initiatives for eco-friendly data center solutions are driving the growth of the data center cooling market. Data centers consume a lot of energy and hence are responding and are beginning to emerge as potent change agents, contributing significantly to the reduction of environmental impact. They're becoming more aware and strategic about how they run their facilities, from the energy they buy to how they cool the data center and everything in between. Commitments to novel green and renewable solutions, such as green electricity, water reclamation, zero water cooling systems, recycling, and waste management, are being used to build the most sustainable data centers. They don't have any outdated methods (such as fixed or underutilized servers) and make use of newer, more efficient technologies. According to Science Direct, the data center energy use might account for 2.13% of worldwide electricity supply by 2030. Moreover, in 2021, Microsoft implemented this technology in its Azure datacenters. A Microsoft Azure, eco-friendly data center is a one-of-a-kind physical structure with its power, cooling, and networking infrastructure that houses thousands of physical servers. Therefore, green initiatives for eco-friendly data center solutions are driving the data center cooling market growth.
Competitive Landscape:
Major companies operating in the data center cooling market report are Hitachi Ltd., Mitsubishi Electric Corporation, Schneider Electric SE, Fujitsu Limited, ABB Group, Hewlett Packard Enterprise Company, Daikin Industries Ltd., Johnson Controls International plc, Eaton Corporation, Emerson Electric Co., Trane Technologies plc, Climaveneta Climate Technologies S.p.A., Vertiv Group Corporation, Alfa Laval AB, Rittal GmbH & Co. KG, Ebullient Inc., Munters Group AB, Black Box Corporation, Nortek Air Solutions LLC, Coolcentric Inc., Airedale International Air Conditioning Limited, Asetek Inc., Usystems Inc., Midas Green Technologies Inc., Liquid Cool Solutions LLC, Green Revolution Cooling Inc., Submer Technologies Inc., Delta Power Solutions, Adaptivcool Ltd., Interxion Holding NV
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Top Trend - Revolutionizing Data Center Cooling With Immersion Cooling Technology
Major companies operating in the data center cooling market are launching new technology such as immersion cooling technology to increase their profitability in the market. Immersion cooling technology in data center cooling involves submerging IT hardware components, such as servers and other electronic equipment, in a non-conductive liquid coolant to dissipate heat generated during operation. For instance, in September 2022, Dow Inc., a US-based material science company launched DOWSIL Immersion Cooling Technology. The data center cooling technology is focused on sustainability and efficiency and emphasizes single-phase cooling systems for simplicity and affordability. The DOWSIL Immersion Cooling Technology features the ICL-1000 Fluid, is designed to absorb heat exceptionally efficiently, with up to 95% decrease in the power required for server cooling and a 50% decrease in operational costs. This also aligns with Dow's 3-S obligation to sustainability, stability, and safety thus minimizes water usage compared to conventional cooling methods. As a silicone-organic hybrid fluid, it offers superior heat conduction, aiming to reduce a data center's energy consumption by 60% and enhance scalability across applications.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Data Center Cooling Market Characteristics
3. Data Center Cooling Market Trends And Strategies
4. Data Center Cooling Market - Macro Economic Scenario
5. Data Center Cooling Market Size And Growth
…..
27. Data Center Cooling Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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