Data center cooling market contributed over USD 2 billion and is anticipated to cross over USD 5 billion by 2022. Worldwide augmentation in several data intensive organizations is increasing data center cooling market demand globally. Furthermore, expansion in IT sector has led to innovative technologies along with increasing number of projects shifting to cloud computing, which will drive the market demand further. Also, requirement to attain energy efficiency is expected to fuel the industry growth. Rising prices of electricity in several countries like U.K, U.S and India is also projected to drive the market demand to gain cost efficiency.
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Strict regulations in European region are expected to boost industry growth in the region over the coming years. The requirement for proficient cooling is of paramount importance to ensure improved server operation and eradicate system downtime. Moreover, augment in number of enterprises coupled with high data volumes shifting towards cloud computing is estimated to boost the overall industry over the coming years. Escalating energy cooling systems that are technological advanced are experiencing high demand primarily due to traditional systems that sustain high operational cost owing to improved power expenditure.
IT& Telecom is anticipated to contribute significantly towards the industry share over the coming years. Also, rising number of external IT infrastructures service providers who administer business critical applications and information is expected to augment the demand. Furthermore, Smartphone proliferation with the proliferation of BYOD phenomenon has also impacted the overall IT industry.
Precision air conditioners are likely to go through substantial growth over the coming years. Organizations nowadays face various challenges concerning high-set up cost linked with cooling solutions due to which precision air conditioners are favored as they are extremely cost efficient. The data center cooling market in APAC is anticipated to grow rapidly across all the regions .China is the leading market for data center and is estimated to grow at rapid rate of 17% further. Furthermore, Asian data centers are outsourced to collocation hosted service and approximately 64% of them are managed in-house. Key firms operating in the industry are CSF Malaysia, equinox, digital reality and global switch. Although, the key challenge confronted by data center cooling market is the high electricity consumption and set up cost associated to cooling systems. Moreover, the service providers are offering greener cooling solutions to make firms more energy efficient.
Information Source: Grand View Research