Technavio has been monitoring the data center cooling solutions market and it is poised to grow by $ 4.55 billion during 2020-2024, progressing at a CAGR of over 8% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
The #Global Data Center Cooling Solutions Market will grow by $ 4.55 billion during 2020-2024, according to @Technavio
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Frequently Asked Questions:
- What are the major trends in the market?
Rising need to reduce OPEX is a major trend driving the growth of the market.
- At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 7.49% and the incremental growth of the market is anticipated to be $ 4.55 billion.
- Who are the top players in the market?
Airedale Air Conditioning Ltd., Black Box Corp., Daikin Industries Ltd., Data Aire Inc., Fuji Electric Co. Ltd., Huawei Investment & Holding Co. Ltd., Mitsubishi Electric Corp., Rittal GmbH & Co. KG, Schneider Electric SE, and Vertiv Group Corp., are some of the major market participants.
- What is the key market driver?
The increased demand for data centers is one of the major factors driving the market.
- How big is the APAC market?
The APAC region will contribute 39% of the market share.
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Airedale Air Conditioning Ltd., Black Box Corp., Daikin Industries Ltd., Data Aire Inc., Fuji Electric Co. Ltd., Huawei Investment & Holding Co. Ltd., Mitsubishi Electric Corp., Rittal GmbH & Co. KG, Schneider Electric SE, and Vertiv Group Corp. are some of the major market participants. The increased demand for data centers will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.