The Global Data Center Cooling Market is expected to grow at a CAGR of more than 4% during 2018-2024.
The increased data center construction in developing countries such as Latin America, MEA and Southeast Asia (except Singapore), India, China & Hong Kong, and South Korea is likely to boost to the data center cooling market during the forecast period. Besides, the increased investment by hyperscale companies and rise in the adoption of innovative and energy-efficient cooling infrastructure solutions are likely to contribute to fetching huge profits for the vendors.
The global data center cooling market is witnessing an increased adoption of automation and monitoring solutions. These solutions identify the maintenance requirements of infrastructure to avoid operational failures and provide end-to-end monitoring and automation of facilities. Further, Data Center as a Service or DMaaS, a service based on DCIM solution is likely to gain traction in the market. Vendors offering DCIM solutions to monitor power consumption and carbon dioxide emission will gain a major revenue boost in the coming years. Cryptocurrency is expected to emerge as one of the strongest drivers for data center growth during the forecast period.
Market Dynamics
Growth Enablers
- Increase in Construction of Hyperscale Data Centers
- Adoption of Energy-efficient Systems by Colocation Providers
- Growing Facility Development Targeting PUE of <1.5
- Increased Modular Data Center Deployment
- Increasing Demand for Edge Data Centers
Growth Restraints
- Increase in Power Consumption by Data Center Cooling Systems
- Increasing Water Consumption by Data Centers
- Increased Carbon Emissions from Data Centers
- Higher Procurement Cost for Energy-efficient Infrastructure
Opportunities & Trends
- District Heating by Data Centers
- Growth in Construction of Cryptocurrency Data Centers
- Increased Adoption of Automation & Monitoring Solutions
- Favorable Locations for Data Center Construction & Cooling
- Growing Rack Power Density
- Data Center Innovations Targeting Cooling
