Data Center Rack Server Market May Reach to $102.5 Billion by 2024
Data Center Rack Server Market to grow from USD 52.1 billion in 2019 to USD 102.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 14.5%.
Northbrook, IL -- (SBWire) -- 09/14/2021 --According to a new market research report "Data Center Rack Server Market by Form Factor (1U, 2U, and 4U), Service, Tier Type (Tier 1, Tier 2, Tier 3, and Tier 4), Data Center Type (Mid-Sized, Enterprise, and Large Data Centers), Industry, and Region - Global Forecast to 2024" published by MarketsandMarkets™, the data center rack server market size expected to grow from USD 52.1 billion in 2019 to USD 102.5 billion by 2024, at a CAGR of 14.5% during the forecast period.
Major growth factors for the market include an increasing need for high-density servers due to high computation needs and advancement in emerging technologies, such as edge computing, IoT, and big data analytics.
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2U form factor segment to hold the largest market size during the forecast period
The 2U form factor segment is estimated to hold one of the largest chunks of the data center rack server market shares during the forecast period. This is mainly because it facilitates easy adoption in Small and Medium-sized Enterprises (SMEs). The servers require normal coolers and hence are economical. Moreover, 2U rack server solutions enable low-cost deployment for a variety of data center needs. These benefits fuel the demand for data center rack servers in the market.
Mid-sized data centers segment to record the fastest growth rate during the forecast period
The adoption of data center rack servers among mid-sized data centers is estimated to grow at the highest CAGR during the forecast period. Rack servers used in mid-sized data center provides a facility for storing and computing information at a lower cost, which helps organizations in their personal or private usage. Organizations are rapidly adopting these solutions as they provide increased scalability and easy migration from traditional technologies. Vendors can develop specific solutions targeted toward mid-sized data centers to improve their position in the data center rack server market. Furthermore, rising technological proficiency among the mid-sized data centers further compels mid-sized data centers to adopt data center rack servers.
North America to hold the largest market size during the forecast period
Countries that contribute the most to the data center rack server market in North America include the US and Canada; the reason for the dominance of these countries is their well-established economies, which enable investments in new technologies. North America being the most developed region, is home to large industries that are capable of investing in reliable and advanced IT infrastructure for growing data traffic, thereby opening new opportunities for the adoption of data center rack servers.
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Key market players profiled in this report are Hewlett Packard Enterprise (US), Lenovo (China), Dell (US), Cisco Systems (US), Huawei (China), Oracle (US), Fujitsu (Japan), NEC (Japan), Rittal (Germany), Vertiv (US), Schneider Electric (France), Asus (China), Inspur Systems (China), Iron Systems (US), Black Box Corporation (US), and Quanta Computer,. (China).
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