Pune, India -- (SBWIRE) -- 02/28/2020 -- The global data centers cooling market size is projected to reach USD 11.97 billion by 2026. The increasing industrialization across the world will create several growth opportunities for companies operating in this market. According to a report published by Fortune Business Insights, titled "Data Center Cooling Market Size, Share & Industry Analysis, By Product (Air Conditioners, Precision Air Conditioners, Chillers, Air Handling Unit, and Others), By Data Center Type (Large Scale DC, Medium Scale DC, and Small Scale DC), By Cooling Technique (Room Based Cooling, Rack Based Cooling, and Row Based Cooling), By Industry (BFSI, IT and Telecommunication, Manufacturing, Retail, Healthcare, and Others) and Regional Forecast, 2019-2026," the market size was USD 6.27 billion in 2018 and will exhibit a CAGR of 8.5% during the forecast period, 2019-2026.

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Some of the leading companies that are operating in the global data centers cooling market are:

ABB Ltd.
Airedale Air Conditioning
Asetek, Inc.
Black Box Corporation
Commscope
Cormant, Inc.
Device42, Inc.
Emerson Electric Co.
FNT GmbH
Nlyte
Nortek Air Solutions, LLC
Optimum path Inc.
Panduit
Rackwise
Schneider Electric
Sunbird Software, Inc.
Vertiv Group Corp.
Key Market Driver –

Growth in 5G technology, penetration of big data and IoT market
Increasing application areas of digital services sites and social media platforms

Key Market Restraint –

Need to obtain authorization from concerned government authority for using modular data center systems and rising cyber-crimes involving risk in handling confidential company data risks

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Key Industry Developments

November 2018: Huawei Technologies Co., Ltd. introduced an advanced cloud modular data center in South Africa, which would be available by the end of 2019. Similarly, in January 2019, the company opened a new data center switch that is powered and backed by an artificial intelligence (AI) chip. This advanced data center is developed with an aim to optimize the overall performance and reduce latency to near zero.
North America to Witness Considerable Growth; High Investments in Product Development to Aid Growth

The report analyzes the ongoing data center cooling market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these regions, the market in North America will emerge dominant in the coming years. The growing investment in data centres by large scale companies based in the United States will aid the growth of the market in this region. Besides North America, the market in Asia Pacific will witness considerable growth in the coming years, owing to the presence of several large scale companies across this region.

Data centers are physical network drives that store large data for companies and related organizations. The constantly rising IT sector has provided a massive potential for the growth of the market in recent years. The huge investments in the development of existing systems, as well as the emphasis on incorporating newer technologies, will have a direct impact on the growth of the market. The benefits offered by data cooling centers have led to a wider product adoption. They help avoid data losses, and subsequently minimize financial losses. The increasing adoption of data centers by leading companies across the world will have a direct impact on the growth of the market.

The report provides an in-depth analysis of the global data center cooling market. It highlights the latest product launches and recent innovations in the market and states their impact on the growth of the market. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years. Forecast values have been provided for the market for the period of 2019-2026. The factual figures have been obtained through trusted sources. Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals.

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Key segments within the market

1. By Product
Air Conditioners
Precision Air Conditioners
Chillers
Air Handling Unit
Others (Air Economizers, Heat Rejection and Others)

2. By Data Center Type
Large Scale DC
Medium Scale DC
Small Scale DC

3. By Cooling Technique
Room-based Cooling
Rack-based Cooling
Row-based Cooling

4.By Industry
Banking, Financial Services, and Insurance
IT and Telecom
Manufacturing
Retail
Healthcare
Others (Government & Defense, Energy and Others)
By Region
North America (U.S. and Canada)
Europe (U.K., Germany, France, Scandinavia, and Rest of Europe)
Asia-Pacific (Japan, China, India, Southeast Asia, and Rest of Asia-Pacific)
Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Latin America (Brazil, Mexico, and Rest of Latin America)

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Increasing Number of Product Launches Will Aid Growth

The report encompasses several factors that have contributed to the growth of the market in recent years. Due to the huge potential held by the market, several companies are looking to better their existing portfolios. In August 2019, Schneider Electric announced the expansion of its data center solutions portfolio with the integration of enhanced and digitized versions of critical facility operations. These solutions are specifically designed large data center operators. With benefits such as increased operational efficiency, lower risk and maximum uptime, and efficient IT planning, the product is wet to witness huge demand in the coming years.

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