Data Center Cooling Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The data center cooling market was valued at USD 10.96 billion last year, and it is expected to reach USD 21.42 billion in the next five years and witness a CAGR of 13.76% over the forecast period. There has been a surge in data centers due to high computational requirements by AI and media applications. Furthermore, the growth is likely to be fuelled by the adoption of edge computing and the increase in IoT devices.
Key HighlightsThe data center cooling market is fragmented as the benefits offered by the technology and support from the government by imposing efficiency regulations on data centers are expected to help the growth of the data center cooling market directly. Market penetration is growing with a strong presence of major players in established markets. With the increasing focus on innovation, the demand for new technologies is growing, which, in turn, is driving investments for further developments. Key players include Vertiv Co., Schneider Electric SE, and STULZ GMBH.
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