Data Center Liquid Cooling Market Size
The Business Research Company recently released a comprehensive report on the Global Data Center Liquid Cooling Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
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According to The Business Research Company’s, The data center liquid cooling market size has grown exponentially in recent years. It will grow from $3.41 billion in 2023 to $4.24 billion in 2024 at a compound annual growth rate (CAGR) of 24.5%. The growth in the historic period can be attributed to increased data collection, growth of data center, energy efficiency demands, cloud computing growth, expansion of hyperscale data centers.
The data center liquid cooling market size is expected to see exponential growth in the next few years. It will grow to $10.61 billion in 2028 at a compound annual growth rate (CAGR) of 25.8%. The growth in the forecast period can be attributed to growing need for data storage, edge computing and micro data centers, environmental sustainability, data security and privacy concerns, and regulatory compliance. Major trends in the forecast period include edge computing and micro data centers, ai and machine learning workloads, 5g network expansion, technological innovations, innovative solutions, and strategic partnerships.
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Market Drivers and Trends:
The increasing number of data centers and server density is expected to propel the growth of the data center liquid cooling market going forward. Data centers have become an integral part of business operations in enterprises due to their number of advantages in supporting the business in various aspects such as computation, data storage, network, business applications, and other functions for the smooth functioning of business operations. Due to these advantages, there is an increase in the number of data centers and server density, ultimately raising the demand for liquid cooling systems. For instance, in September 2021, according to an article published by phoenixNAP, a US-based company offering progressive Infrastructure-as-a-Service solutions, technologies such as cloud services, virtualization and containerization, artificial intelligence (AI), machine learning (ML), Internet of Things (IoT), blockchains, and edge computing require high processing power and high-density racks exceeding the traditional 2 to 5kW average. With this increased demand for compute-intensive workloads, the average server density in enterprises and on-premises data centers has increased from 7.3 kW per rack in 2019 to 8.4 kW per rack in 2021. Therefore, the increasing number of data centers and server density are driving the growth of the data center liquid cooling market.
Technological advancement is the key trend gaining popularity in the data center liquid cooling market. The demand for power in data centers is insatiable. They require massive amounts of energy to run and cool their facilities. Recent advancements have witnessed the implementation of a computer room air handler (CRAH), which combines air and liquid cooling in the process. This design allows a data center to preserve temperature, air distribution, and humidity in data centers. Major companies operating in the data center liquid cooling market are focused on developing advanced and better solutions to strengthen their market position. For instance, in May 2021, Super Micro Computer, Inc., a US-based information technology company, introduced a range of cost-effective liquid cooling solutions that enable applications to run with less jitter and at higher CPU frequencies. This liquid cooling solution can reduce data center power usage effectiveness (PUE) and total cost of ownership (TCO) by more than 40% on power costs.
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Major Key Players of the Market:
Asetek Inc., Rittal GmbH & Co. KG, Fujitsu Limited, Vertiv Group Corp, Green Revolution Cooling Inc, Submer Technologies SL, Midas Green Technologies LLC, Schneider Electric SE, Alfa Laval AB, Chilldyne Inc, Iceotope Technologies Limited, CoolIT Systems Inc, 3M Company, Aspen Systems Inc, Mitsubishi Group, IBM Corporation, ExaScaler Inc, Stulz GmbH, Ebullient Inc, Aquila Group Holdings Limited, LiquidStack Inc, KyotoCooling BV, Asperitas B.V., Airedale International Air Conditioning Ltd, Motivair Corporation, Munters Group AB, Aegis Data Ltd, DownUnder GeoSolutions (DUG) Pty Ltd, Delta Electronics Inc.
Data Center Liquid Cooling Market 2024 Key Insights:
• The data center liquid cooling market size is expected to see exponential growth in the next few years. It will grow to $10.61 billion in 2028 at a compound annual growth rate (CAGR) of 25.8%.
• Data Center Liquid Cooling Market Surges Due To Increasing Data Centers And Server Density
• Technological Advancements Drive Progress In The Data Center Liquid Cooling Market
• North America was the largest region in the data center liquid cooling market in 2023
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This release was published on openPR.