The Cooling management system market has become an important market in order to prevent the excessive heat generation from the server towers and to prevent the interruption caused by overheating of servers. Increasing mobile backers and internet tradition has led to the increasing demand for the space for data storage as data centers create enormous heat which if not dissipated properly may possibly result to severe irretrievable breakdown of the system, thus resulting in the rise of cooling management system market.
A CAGR of 15.1% is expected of the global cooling management system market, due to the growing demand during the forecast period. It is anticipated to be appraised at US$ 14.87 Bn by 2032, up from US$ 3.64 Bn in 2022.
Also increasing concern for environmental issues have obligated the corporate companies to opt for energy proficient and eco-friendly cooling management system. Dealing with huge amount of data and growing dependence on data hubs has led to outsized execution of cooling management system market for data centers in the forecast period.
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Cooling Management System Market: Drivers and Restraints
Amongst all the sectors, IT and Telecom are the major contributors to the cooling management system market. Processing of large amount of data in e-commerce site and in hospital data, energy, banking, financial services and insurance (BFSI) and other sectors requires more cooling management systems to safeguard smooth handling of the data storage server thus driving the market for cooling management system market.
The American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) provide guidelines and technical standards for cooling industry with respect to environment control conventions. The ASHRAE has proposed specific humidity and temperature levels to avoid system failure due to excessive heat which led to drive the installation of efficient cooling management system.
Cloud Computing is becoming more popular these days and it is expected that consumers would store most of their digital data using cloud services which will drive the need for more data space and surplus data center system; thus results in increase in the demand for cooling management system market.
The restraint in the growth of cooling management system market is the high cost for the installation of the setup and huge energy consumption. Considering the environmental issues regarding generation of greenhouse gases, greener cooling system has been introduced.
Cooling Management System Market: Region wise Outlook
Based on the geography, cooling management system market is classified into seven key segments as Asia-Pacific, North America, Latin America, Eastern Europe, Western Europe, Japan, and Middle East & Africa. Amongst all the regions, North America will be expected to be the major contributor in cooling management system for cloud adoption and increase in data volume. Also, with the increasing rate of industrialization in Asia-Pacific region, the market will be expected to become one of the vital region in cooling management system.
Cooling Management System Market: Key Players
Some of the key players in cooling management system market are listed below:
- Emerson Electric Co.
- Rittal GmbH & Co. KG
- Schneider Electric
- Siemens AG
- Johnson Controls Inc.
- Airedale International Air Conditioning Ltd.
- Black Box Corporation
- Stulz GmbH
- Vigilant Corporation
- IT Aire
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, user types, end user industry and solution types.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Cooling Management System Market: Segmentation
The cooling management system market can be segment based on the end use industry:
- IT and telecom
- Banking & Financial
- Healthcare
- Government
- Energy & Power
- Chemical
- Others
The cooling management system market can be segmented based on the solution type:
- Cooling towers
- Air conditioning
- Economizers
- Servers cooling
- Chillers
The cooling management system market can be segmented by the user type:
- Colocation provider
- Cloud provider
- Enterprises
The cooling management system market can be segmented based on the type of cooling:
- Liquid cooling
- In-row cooling
- In-rack cooling
- Overhead cooling
- Rear door cooling
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