Report: Global Data Center Cooling Market is Expected to Reach $11.65 Billion by 2020
According to a new report by Allied Market Research titled, "Global Data Center Cooling Market - Size, Share, Global Trend, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation, and Forecast 2014 - 2020", the global data centre cooling market is expected to reach $11.65 billion by 2020, registering a CAGR of 13.17% during 2014-2020. Precision Air Conditioning (PAC) would drive the market significantly by the year 2020, as its setup cost is comparatively less than Precision Air Handling Unit (PAHU). The data centre cooling system market primarily includes two components chillers and air conditioners. Chillers contributed to 70% of total global data centre cooling market in 2013.
Amongst all verticals, telecom and IT, are the major contributors to the market revenue of the data center cooling market. The growing number of applications in health care and retail sector have a good scope in the data centre cooling solutions. A large amount of data processing is required due to the rapid increase in e-commerce sites and growth in hospital data. Banking, financial services and insurance (BFSI), Energy and others sector will prove as a moderate contributor, in terms of revenue, for the global data centre cooling market. The cooling technology giant, Emerson, launched an extended-size version of the ultra-silent outdoor coil condenser for data centre cooling systems which features an increased capacity of 220KW.
Increase in data volume and cloud adoption are the major market drivers for the growth of this market. The North American region will prove to be a major revenue contributor in the data centre cooling market during the forecast period. However, with the rise in industrialization, the Asia-Pacific market would also be a key region in the cooling market.
Key findings of the study:
The global data centre cooling market is growing due to increasing adoption of data centres across key verticals such as Telecom & IT, retail, healthcare, BFSI and government during the forecast period (2014 - 2020)
Telecom & IT is amongst the major contributors towards the growth of the data centre cooling market during 2014-2020
North America enjoys the biggest share in the global data centre cooling market and also holds a significant position in revenue generation
The growth of the data center cooling market is supplemented by big data processing which requires more cooling solutions. Companies like Emerson, Schneider and Rittal are enhancing their cooling capacity to reduce extra power consumption. In order to gain higher market share, companies are adopting product launches along with acquisition and partnership as prime strategies. Prominent companies profiled in the report include Emerson, Schneider, Rittal, Stulz, IBM, HP, AdavtiveCOOL, and Hitachi.