The data center cooling market is predicted to surpass USD $20 billion in value by 2024.
That's according to new Global Market Insights, which identifies an increase in power consumption levels and the need to enhance overall efficiency as the main drivers fueling demand in the data center cooling market.
The report, Data Center Cooling Market Size by Component, identifies a number of factors predicted to drive the market to this value, including:1. The importance of energy efficiency
The findings indicate that the need to offer systems with high efficiency which don't need high energy consumption will increase to become a main driver of the data center cooling market over the next seven years.2. Green data centers
Green data centers are also gaining popularity in the market due to the need for energy-efficient cooling systems as they utilize renewable sources of energy, the report states.3. Containerized data centers
The findings indicate an inclination towards the adoption of containerized data centers while the construction of modular data centers has increased due to their ability to deliver high energy-efficiency.4. Modular data centers
Modular data centers are further driving the cooling market as these buildings can help in reduce energy consumption and carbon emission levels.
Additionally, the research anticipates an increase in the adoption of these data centers by enterprises because of their effectiveness, and their ability to adapt to variations in humidity and temperatures.
On the other hand, concerns around the high costs of this equipment and the maintenance required by them could hamper growth in the data center cooling market.5. Adoption of liquid cooling systems
Increasing adoption of liquid cooling systems due to their ability to consume less energy will fuel the data center cooling market, the report claims.
This increase in adoption is driven by the rising number of racks installed in data centers and the increasing rack power density which has seen many operators opt for liquid cooling systems.6. Colocation application segment
The colocation application segment is expected to grow at a significant rate in the data center cooling market as it offers more flexibility and so that it is easy to scale up the IT environment and align the business at the same time, the report explains.
It also helps service providers focus on their core competencies while focusing less on the management of the data centers. In addition, the report claims it is cost-effective as it reduces the total cost of ownership of the equipment.7. Rack/row technique
The report predicts that the ‘rack/row based' technique will see a high growth over the forecast timeline - owing to the need to provide precise cooling as the airpaths are smaller.
As the report states, this technique helps to ensure that cooling capacity and redundancy meets the actual needs of each specific row.
The electricity costs for a row-based approach are generally lower than the room-based practice, the report finds, as the CRAH components are closely sized and coupled with the load.8. Flourishing financial sectors
The data center cooling market in Asia Pacific is expected to witness significant growth owing to the flourishing financial sector in developing economies such as India.
The rising requirement for cost-effective and energy-efficient solutions to minimize the energy consumption levels will have a positive impact on the industry in the region.
Furthermore, the demand for cloud data centers will also augment the demand in the region.