Data Center Cooling Market Estimated to Reach $29.6 billion by 2030 Globally, at a CAGR of 12.8%, says MarketsandMarkets™
MarketsandMarkets Research Pvt. Ltd.
5 min read
MarketsandMarkets Research Pvt. Ltd.
Delray Beach, FL, Nov. 04, 2024 (GLOBE NEWSWIRE) -- TheData Center Cooling Market is projected to grow from USD 12.7 billion in 2023 to USD 29.6 billion by 2030, at a CAGR of 12.8% during the forecast period, as per the recent study by MarketsandMarkets. The market is witnessing robust growth worldwide due to increasing demand for cost-effective data center solutions and the rising importance of eco-friendly data center solutions.
Row/rack-based cooling systems are expected to experience the fastest growth rate in the cooling segment from 2023 to 2030.
Research and Academic Sector Poised for Highest Growth in Data Center Cooling Market between 2023 and 2030 among various industry segments.
Based on data center type, mid-sized data centers look to expand faster in the coming years.
Asia Pacific region is projected to register the fastest CAGR during the forecast period, driven by rapid digitalization across India, Japan, and China.
By component, the solution segment of the data center cooling market is estimated to dominate the global data center cooling market. Energy-efficient data center air cooling solutions and liquid cooling solutions with lower carbon footprints are witnessing a growth in demand across all industries due to their cost-effectiveness and efficient performance.
By solution, the air conditioning segment is projected to lead the global data center cooling market, during the forecast period. The trend toward higher data center density, driven by technological advancements and the rise of high-performance computing (HPC), has led to increased heat generation. Air conditioning systems are crucial in efficiently cooling densely packed server racks and preventing equipment from overheating.
By services, the maintenance & support services segment is projected to dominate the global data center cooling market, during the forecast period. The market's growth is supported by the increasing adoption of eco-friendly data center solutions and notable government measures to enhance energy efficiency in data centers. The demand for support and maintenance services is expected to rise as businesses and organizations seek to optimize their data center operations and reduce their environmental impact. As a result, the maintenance and support segment will likely experience significant expansion, driven by the ongoing need for reliable and sustainable cooling solutions in the data center industry.
By type of cooling, the room-based cooling segment is projected to lead in the global data center cooling market, during the forecast period. The growth of larger and denser data centers, driven by the rising demand for computing power and storage capacity, contributes to the demand for room-based cooling solutions. These solutions are designed to manage the overall climate within the data center space, ensuring optimal conditions for IT equipment.
By data center type, a large data center segment is projected to dominate the global data center cooling market, during the forecast period. Large data centers often have high server density, with numerous racks and servers densely packed within the facility. This high-density configuration increases the heat load, necessitating sophisticated and scalable cooling solutions to prevent thermal issues and ensure optimal performance.
By industry, the IT & telecom segment is projected to dominate the global data center cooling market, during the forecast period. The continuous rise in data traffic, driven by the proliferation of digital services, cloud computing, and the Internet of Things (IoT), is a significant factor. IT and telecom data centers need robust cooling solutions to handle the escalating heat generated by high-density server equipment.
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