Data Center Rack Market Value

Data center rack market is growing due to factors including the rising adoption of data center rack technology by businesses to improve operations & efficiency.

PORTLAND, PORTLAND, OR, UNITED STATES, March 16, 2023 /EINPresswire.com/ -- In 2021, the data center rack market was valued at $3.9 billion, and it is forecast to reach to $9.5 billion by 2031, with a CAGR of 9.7% from 2022 to 2031.

The market is highly consolidated, with major players controlling a sizable portion of it. Throughout the expected period, the level of concentration won't change. The industry's vendors are undertaking a number of measures, such as new product launches and partnerships, to maintain their competitiveness and to solidify their market position.

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What are the drivers for data center rack market?

• Increasing demand for data storage and processing: The growth of cloud computing, big data analytics, and the Internet of Things (IoT) has led to a significant increase in the amount of data generated and processed. This has resulted in a greater need for data center racks to house servers, storage devices, and other equipment.

• Technological advancements: Advancements in technology have resulted in the development of high-performance computing equipment that requires a greater amount of space and cooling. This has led to the need for larger and more advanced data center racks.

• Need for higher power density: With the increasing demand for high-performance computing equipment, there is also a need for higher power density. This has resulted in the development of data center racks that can support higher power densities.

• Growing demand for modular data centers: Modular data centers are becoming increasingly popular due to their flexibility and scalability. This has resulted in a greater demand for modular data center racks that can be easily deployed and scaled as needed.

• Increasing adoption of virtualization: The adoption of virtualization technology has led to the consolidation of servers and other equipment, resulting in a greater need for data center racks that can support a higher number of virtual machines.

• Increasing focus on energy efficiency: As energy costs continue to rise, there is a growing focus on energy efficiency in data centers. This has led to the development of more energy-efficient data center racks that can help reduce energy consumption and costs.

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Key trends in data center rack market:

• Increased adoption of modular and prefabricated data centers: Modular and prefabricated data centers are becoming more popular due to their flexibility, scalability, and ease of deployment. This trend is likely to continue as organizations seek to quickly expand their data center capacity.

• Growing demand for edge computing: Edge computing involves processing data closer to where it is generated, which can help reduce latency and improve application performance. This trend is likely to drive the demand for smaller, more compact data center racks that can be deployed in edge locations.

• Greater emphasis on sustainability: As organizations become more focused on sustainability, there is likely to be a greater demand for energy-efficient data center racks that can help reduce energy consumption and costs.

• Adoption of liquid cooling: Liquid cooling is becoming increasingly popular as a way to cool high-performance computing equipment. This trend is likely to drive the demand for data center racks that are designed to support liquid cooling systems.

• Increased use of AI and machine learning: The adoption of artificial intelligence (AI) and machine learning is likely to drive the demand for data center racks that can support high-performance computing equipment and GPUs.

• Emphasis on security: As cyber threats continue to increase, there is likely to be a greater emphasis on security in data centers. This trend is likely to drive the demand for data center racks that are designed to enhance security, such as those with integrated access control and surveillance systems.

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Which are the key companies in data center rack market?

The key players that operate in the data center rack market analysis are Black Box, Eaton Corporation, Great Lakes Data Racks & Cabinets, Oracle Corporation, Schneider Electric, Hewlett Packard Enterprise Development LP, Fujitsu, Dell Technologies Inc., Rittal GmbH & Co. KG, Samsung Electronics Co., Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the data center rack industry.

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