Global Data Centre Cooling Market Showcase Promising Growth Forecast at CAGR 14.95% During Forecasted Period 2016-2023: Occams Business Research & Consulting Pvt. Ltd.
INDORE, India, September 13, 2017 /PRNewswire/ --
Data centre support infrastructure carries three components that include uninterruptible power source, environmental control, and security systems. According to OBRC Analysis, environmental control accounts for an average 20% of total data centre support infrastructure cost. Data centre environment control framework place an important role in maintaining temperature, humidity and air quality within data centre for optimal performance. Hence, investments in data centre cooling facility is of prime importance for data centre operations. Global data centre cooling market is projected to rise at CAGR of 14.95% for the forecast period 2016-2023. Demand for cloud computing & big data solutions, demand for efficient data centres, demand for cost effective data centre solutions, demand for sustainable data cooling solution, increasing number of data centres, and regulatory compliance are the main factors driving global data centre cooling market for the forecasted period. High investments and requirement of specialized infrastructure are key factors restraining global data centre cooling market for the forecast period 2016-2023.
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Demand for cloud computing solutions: Growth driver
Cloud computing is driving IT industry across all sectors by offering mobility, on demand scalability, cost effective solutions, shifting enterprise focus on operational expenditure (OPEX) from traditional capital expenditure (CAPEX) and offering uninterrupted business process. According to OBRC estimate global cloud computing expenditure is expected to rise six times that of conventional IT spending from 2015. OBRC estimates global cloud computing market to reach revenue of $161.8 billion by 2020, increasing from $66.7 billion in 2015, with year-on-year increase of 18.8%. According to OBRC technology survey more than 72% Chief Financial Officers from technology companies are looking forward to making significant investment in cloud computing by 2019. With increasing adoption of cloud computing, demand for IT infrastructure products for deployment in cloud environments are anticipated to increase year on year by 15% according to OBRC estimate. IT infrastructure spending for FY 2017 to touch is estimated to reach $41.5 billion. Asia Pacific cloud computing market isforecasted to grow fastest at 28% per annum till 2022 according to OBRC analysis. The growth is led by high adoption rate of big data & analytics service, increasing IT infrastructure investment, increasing internet penetration, and adoption of cloud computing across all sectors. India, China, Singapore, Indonesia, South Korea, Taiwan, Australia, New Zealand and Japan are key markets for cloud computing investment in Asia Pacific according to Asia Cloud Computing Association.
North America and Europe: Together dominates market
North America & Europe together dominates data centre cooling market for forecasted period in terms of revenue and technology adoption, according to OBRC analysis.Presence of huge data centres,high adoption of data centre cooling technologies, growing cloud computing market, high degree of data traffic and regulatory compliance are the factors driving data centre cooling market in North America & Europe. According to OBRC studies, North America hosts more than 42% of the global colocation operations, thus requiring presence of large data centres. There are more than 3.5million data centres present in USA as of 2015. That accounts roughly one data centre per 100 people in USA. Similarly, there are more than 1464 data colocation data centres in Europe of which more than 75% are located in Western Europe according to Data Centre Research. Leading colocation data centre markets in Europe are UK, Germany, France, and Netherland. Since 2014, cloud computing technology adoption rates across sectors in North America has increased significantly. According to OBRC research, more than 52% of organizations in North America have deployed cloud solutions on their own. Similarly, OBRC research shows that more than 74% of start-ups in North America since 2015, are looking forward to investing in cloud computing technologies within 2017. Moreover, both North America and Europe are house of world's biggest software companies such as Facebook, Amazon, Google, Microsoft, SAP and so on. Increasing adoption of cloud computing technologies would certainly drive demand for data centres, indirectly supplementing data centre cooling market in the region for the forecasted period.
About Occams Business Research & Consulting (OBRC):
Occams Business Research & Consulting has been in the business (Market Research) for the past three years. OBRC, based in India, is formed by two women analysts, Shyamal Moghe and Sathya Durga, who started the company after years of working as analysts and project managers for companies such as Frost & Sullivan, Smart Analyst, etc. and have an excellent track record for the best customer satisfaction. You can see their professional profile on LinkedIn:
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