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(I-SoftwareNews.Com, June 24, 2020 ) Global data center cooling market Share is expected to foresee traction in the coming years, with continuously growing demand for data centers deployment, up-gradation in the existing data centers, increasing availability of smart phones, rich internet connectivity, need for reducing operational expenses and technological advancements. In the present scenario, efficient data center cooling has become a critical considerable factor for attaining operational efficiency along with reduced expenditures. It is estimated that around 40% of total energy consumption in a data center is into cooling, constituting a major portion of operational expenditure. Because of these reasons, developing efficient data center cooling technologies has become essential for data center managers.
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Among services, the maintenance and support segment is expected to grow at the highest CAGR during the forecast period. This high growth is due to the rapid adoption of data center cooling solutions in enterprises and large data centers, which require third-party assistance for the maintenance of the cooling infrastructure and additional support for the liquid cooling infrastructure.
North America is estimated to hold the highest share of the data center cooling market in 2016 due to the technological advancements and the higher adoption of data center cooling technologies by large organizations in the region. APAC is expected to grow at the highest CAGR between 2016 and 2021. The primary driving force for this growth is the increasing requirement for energy-efficient and cost-effective solutions in various industries present in the region.
In reference to the industry verticals in the data center cooling space, major portion of market is expected to be contributed by the telecommunication and IT vertical, as substantial traction in the deployment of data centers is expected. Other than Telecom and IT, the Banking, Financial Services and Insurance (BFSI) vertical is also expected to experience significant rise in revenue. Apart from these two verticals, healthcare, manufacturing, retail etc verticals are also expected to foresee growth, as the transition from maintaining manual records to maintaining electronic records in all the verticals is clearly visible. The market for data center cooling is significantly impacted by various geographical regions, because of increasing data center deployments and availability of infrastructure.
MarketsandMarkets expects the Asia-Pacific region to hold the largest portion of total data center cooling market. In spite of small contribution in revenues, the Latin American region is expected to foresee high growth in this market along with Middle East and Africa. MarketsandMarkets expects the data center cooling market to grow from $4.91 billion in 2013 to $8.07 billion by 2018, at a Compound Annual Growth Rate (CAGR) of 10.4%.
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