Cooling solutions are used in data centers to reduce the heat generated by the IT equipment. Many CRAC and CRAH units including air conditioners, chillers, cooling towers, economizers, humidifiers, and modern containment systems are used in data centers to furnish rack cooling. These cooling units use air, water, and liquid cooling systems for operation. The cooling process accounts for 40 percent of the electricity consumed in a data center. To reduce the OPEX of a data center, several modern cooling techniques are being adopted by the vendors. These innovations are expected to increase the demand for effective cooling solutions for data centers in the near future. The number of new data center facilities would increase significantly in developing countries, whereas more renovations are expected to be carried out in the developed countries during the forecast period. In addition, considerable increase in the construction of containerized data center is also expected to contribute heavily to the market revenue. Modern data center solutions are developed to enhance environment-friendly and green solutions to monitor energy consumption and minimize the effect on the environment.