DATA CENTER COOLING MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 

Data Center Cooling Market Analysis:

The Data Center Cooling Market is anticipated to experience substantial growth, increasing from USD 16.56 billion in 2023 to USD 34.51 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 15.82% during the forecast period (2023–2028).

The proliferation of data centers has been driven by the high computational demands of Artificial Intelligence (AI) and media applications. Additionally, the adoption of edge computing and the proliferation of Internet of Things (IoT) devices are expected to fuel market growth.

The data center liquid cooling market is poised to exhibit significant gains, propelled by the rise in digitization, which has led to an increase in computing power, necessitating the integration of large chips into data centers. The design of data centers and their cooling requirements are being reshaped by powerful hardware for AI workloads. Manufacturers are introducing large semiconductor chips to optimize performance for AI and High-Performance Computing (HPC) workloads. The use of powerful Graphics Processing Units (GPUs) in AI and HPC environments supports the need for data center cooling technologies.

The growing use of Over-The-Top (OTT) and streaming services has resulted in increased data volumes, fueling market development. The demand for data center cooling systems that deliver effective cooling performance will be driven by the increasing amount of data generated by online streaming services such as Disney+ Hotstar, Hulu, and Netflix. There is a rising need in the market to ensure that data center cooling providers have the capacity and capability to provide high-performance products that can work efficiently during peak traffic periods.

A green data center is one where data is stored, managed, and distributed. The mechanical, lighting, electrical, and computer systems are designed to be as energy-efficient as possible while minimizing their adverse environmental effects. Innovative techniques and technologies are used in building and running green data centers. With the exponential growth and usage of the internet, power consumption in data centers has increased significantly. Companies are under more pressure to adopt a green policy due to the environmental impact, rise in public awareness, higher cost of energy, and governmental action. These factors have made the development of sustainable data centers a direct driver of the data center cooling market.

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