FORT COLLINS, Colo., May 6, 2024 (Globe Newswire) —
The demand for data cooling centers is rapidly increasing in several business sectors.
With the rapid increase in global data generation, the global demand for data centers is rapidly increasing. However, while data centers are essential to managing this influx of data, they consume high power and generate a lot of heat. Therefore, there is an urgent need to install cooling equipment within data centers. Considering the tremendous amount of heat generated during data center operations, maintaining ambient temperature is extremely important. Excessive heat from the processor can damage servers and other critical systems, disrupting the flow of information and risking data loss. Therefore, data centers require consistent and efficient cooling to mitigate these risks, thereby facilitating the expected growth worldwide. data center cooling market.
The main focus of leading companies in the data center cooling field is on research and development (R&D) expenditures aimed at innovating energy-efficient products with optimal operational efficiency. These market leaders prioritize improving product performance to effectively meet customer demands. Manufacturers go to great lengths to provide customers with fully functional cooling systems that can be seamlessly integrated with existing infrastructure. In addition, we emphasize negotiations with suppliers to reduce risks associated with future raw material acquisitions. Although many market participants engage in some degree of vertical integration across the design, manufacturing, and assembly stages, most manufacturers concentrate on specific segments of the value chain.
Amid increasing pressure from environmentalists, the general public, and government agencies, data center cooling manufacturers are working to produce profitable and sustainable cooling technologies. The increasing demand for cost-effective and environment-friendly cooling solutions is driving the expansion of the data center cooling market.
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Segmentation overview:
The data center cooling market is segmented into solutions, services, industry, and region.
MSMEs are expected to register significant growth in 2023 and maintain their leading position in the coming years.
- Based on solutions, the data center cooling market segmentation consists of installation, support, and maintenance. Installation services have seen great demand over the past few years and accounted for a dominant market share in 2022. Additionally, MSMEs have invested heavily in hardware to keep their data centers intact and other vulnerabilities.
IT is the leading industry in data center cooling and is expected to maintain its leading position in the coming years.
- Data center cooling market is segmented by industry into IT, BFSI, Healthcare, and Government. The IT industry has pioneered the use of cooling centers for server maintenance. IT departments also spend huge amounts of money implementing robust methods to keep data on their servers secure.
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Data Center Cooling Market Report Highlights:
- Data center cooling market is expected to grow rapidly 13.1% CAGR by 2032.
- The main element of the business strategy of the top companies in this sector is research and development expenditure aimed at creating innovative and energy-efficient products with optimal operational efficiency. Leading companies in the market are looking for ways to improve product performance and effectively meet customer demands.
- North America emerged as the market leader and accounted for a positive market share in 2022 based on the presence of data-intensive companies and startups in the region.
- Some of the prominent players in the data center cooling market report include Mitsubishi Electric Corporation, Johnson Controls International Plc, Schneider Electric SE, Asetek Inc., Rittal GmbH, Nortek Air Solutions, Vertiv Co, Munters Group AB, Liquid Cool Solutions Inc. , includes STULZ GMBH. .
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