The global data center cooling market size is expected to reach values over $8 billion by 2023, growing at a CAGR of approximately 6% from 2017 to 2023, according to ResearchAndMarkets.com.
The global data center cooling market is being driven by increased construction of facilities across developing countries such as Latin America, MEA and Southeast Asia (except Singapore), India, and South Korea. The growing need to enhance the operational efficiency of facilities, reduce power consumption, and decrease carbon emissions will lead to the introduction of innovative systems in the market.
The report considers the present scenario of the global data center cooling market and its market dynamics for the period 2018-2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the data center cooling market.
In December, research from Market Study Report said the global market for data center cooling technologiesis expected to reach $20 billion by 2024. It shows the growth of the market rising at a steady 12% CAGR to 2024.
The report stated that increasing adoption for liquid cooling systems — due to the ability to consume less energy — will fuel the data center cooling market. The rising number of racks installed in the facilities and the increasing rack power density has enabled many operators to opt for liquid cooling systems. The maintenance and support services will grow at the highest rate due to the need to execute and manage the infrastructure to ensure reliable and scalable infrastructure. The service also helps in the management of servers, virtualization hypervisors and also look after the on-premise hybrid data center infrastructures.