U.S (New York) – Report Ocean has recently published a comprehensive research report titled “North America Data Center Cooling Market” Research Report 2023-2031. This report delves deep into the market and offers valuable insights into (Key Market Trends, Emerging Technologies, Market Drivers and Challenges of the Industry, Regulatory Policies), company profiles of key players, and their strategies. With over 100+ market data tables, pie charts, graphs, and figures, this global market study is now available. The report provides a thorough evaluation of the market, (Encompassing Future Trends, Current Growth Factors, Expert Opinions, Factual Information), and industry-validated market data, with a forecast extending until 2031.
The North America data center cooling market size was valued at $4,020 million in 2017, and is projected to reach $9,177 million by 2025, growing at a CAGR of 11.0% from 2018 to 2025. The device management segment dominated the overall North America data center cooling market share in 2017 and is expected to continue this trend during the forecast period, due to increase in adoption of these solutions to optimize the performance of network printing devices and to maximize efficiency and take control of costs. Also, it allows network users to share devices more effectively when printing and also help system administrators to achieve enhanced device management efficiency with the benefit of integrated, centralized control. However, document imaging is expected to witness the highest growth rate during the forecast period owing to rise in demand for image capture for big data handing and analytics in many organizations.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Increase in the demand for efficient and cost-effective data centers, green initiatives for eco-friendly data center solutions, substantial growth with data center, and power density drive the market growth. However, requirement of specialized infrastructure and higher investment cost and cooling challenges during power outage is expected to hamper the growth of the North America data center cooling market during the forecast period. Furthermore, emergence of liquid-based cooling and portable cooling technologies and growth in requirement for modular data center cooling approach are anticipated major North America data center cooling market trends.
Based on component, the solution segment dominated the data center cooling market size in 2017 and is expected to dominate the North America data center cooling market in coming years, owing to the increase in number of energy efficient cooling solutions. Furthermore, air conditioners under solution sub-segment had the largest market share due to its energy-efficiency and cost-effectiveness. However, services in the component segment witnessed high CAGR in the data center cooling market as the implementation of services ensures the effective functioning of the solutions with transparency and control throughout the process.
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The room-based cooling segment dominated the overall North America data center cooling market share in 2017 and is expected to continue this trend during the forecast period as it is a traditional approach implemented by various operators as it ensures enhanced cooling capacity and continuous mixing of hot & cold air to maintain adequate temperature level and prevent the occurrence of hot spots. Furthermore, the room-based cooling segment is anticipated to maintain large market share owing its rapid adoption due to less capital cost as the requirement of number of piping and cooling units are less. Therefore, room-based cooling is gaining ground in North America data center cooling market due to its energy-efficient cooling. However, the rack-based cooling segment is expected to grow at the highest CAGR during the forecast period due to its ability to provide precise conditions in close proximity, which is targeted at the banks with server cabinets.
Furthermore, the U.S. dominated the overall North America data center cooling market size in 2017, due to the growth in development of hyperscale and colocation facilities with a power capacity of more than 100 MW. The U.S. controls around 90% of the market share in North America. However, Canada is expected to grow at the highest CAGR due to the presence of large technology giants offering their services globally.
Key Findings of the Data Center Cooling Market:
By type of cooling, the rack-based cooling segment is expected to exhibit highest growth rate during the North America data center cooling industry forecast period.
Based on component, the solution segment accounted for the highest revenue in 2017.
Based on industry vertical, the IT & telecom segment generated the highest revenue in 2017.
Based on type of data center, the enterprise data center segment dominated the overall data center cooling market share.
Based on region, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
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Some of the key market players profiled in the North America data center cooling market report include Schneider Electric Se; Black Box Corporation; Nortek Air Solutions, LLC; Emerson Electric Co.; Hitachi, Ltd.; Rittal Gmbh & Co. Kg; Fujitsu Ltd.; Stulz Gmbh; Vertiv; and Asetek. This study includes the North America data center cooling market analysis along with the trends and future estimations to determine the imminent investment pockets.
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