A Comprehensive Study On Global Data Center Cooling Market
Global data center cooling market is projected to grow at a decent CAGR during the forecast period(2015 to 2021). The rising number of data centers worldwide, owing to increasing demand for additional storage space to store data is the key factor driving the data center cooling market.
Growing power consumption is leading to the growing demand for efficient and low power consuming data center cooling solutions. A shift being towards cloud computing solutions is further spurring the demand for these solutions and technologies.
Expansion Of Data Centres Globally
The rapid growth of the cloud computing market across the globe is catalyzing the expansion of data centers globally. To meet the growing demands of the end-users, cloud providers are continuously focusing on the expansion of data centers. This is driving the demand for data center cooling solutions among them, thus boosting the market growth. Industries are witnessing a continuous shift in trend towards colocation services. To avoid the costs associated with owning and running their own data centers, industry players are moving towards colocation services. Although this is limiting the growth of privately held data centers to some extent, its impact on the global expansion of data centers is marginal.
Expansion of data centers will continue to increase as colocation service providers continue to expand their existing facilities and open new facilities to meet the surging demand. Many large enterprises still continue to store huge volumes of data in their own data centers owing to the sensitive nature of information and its immense impact on their revenue. Growth of such enterprises is fueling the expansion of data centers by the business owners. This is further driving the demand for cooling solutions for data centers, thus augmenting the market growth.
Data Center Cooling Market By Geography
Geographically, global Data Center Cooling market is segmented as North America, Europe, Middle East and Africa, and Asia. North America and Europe accounted for the major market share in 2015 owing to the high number of data centers in these regions coupled with high concerns regarding energy consumption. However, APAC will witness the fastest regional market growth due to rapid digital transformation at the workplace with booming demand for cloud computing and data storage in countries like India.
North America is the major market for data center cooling solutions in the Americas region as well as globally. North America data center cooling market is anticipated to grow to US$3.498 billion by 2021, from US$2.275 billion in 2015 at a CAGR of 7.44%. The U.S. is the biggest market for data center cooling solutions in the region owing to robust data center market as well as the presence of some of the world’s biggest enterprises.
The U.S. is the biggest data center cooling market globally and in the Americas region with a market share of 85.78% of America's data center cooling market. The total revenue generated by the data center cooling companies in the region was estimated to be $2.071 billion in 2015. This market is expected to expand at a CAGR of 7.27% over the forecast period to reach $3.156 billion by the end of 2021.
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