SAN FRANCISCO, May 13, 2020 /PRNewswire/ -- The global immersion cooling market size is projected to reach USD 855.2 million by 2027, registering a CAGR of 22.8% during the forecast period, according to a new report by Grand View Research, Inc. Rising investments in data center infrastructure along with the increasing power consumption are expected to surge the product demand.
Key suggestions from the report:
In terms of revenue, the two-phase immersion cooling system is projected to expand at a CAGR of 23.4% owing to higher energy efficiency and energy savings, improved reliability, lower maintenance requirement, and deployment flexibility of the product
High-performance computing contributed 35.8% to the overall market share in 2019 as they provide advantages for organizations that need a vast amount of computing power from their cloud providers
Cryptocurrency mining application segment is expected to witness a CAGR of 24.6% over the forecast period, owing to enhanced transactional security, quick international transfers, decentralized system, and protection from fraud
Asia Pacific is projected to witness robust growth over the forecast period due to the increased demand for data centers, rising power consumption, and an increasing number of AI application-driven startups
The immersion cooling market has been witnessing key developments in terms of technological advancements and sustainability wherein the companies have been optimistic in developing strategies to gain a competitive advantage
With the rapid development of internet of things (IoT), virtual reality (VR), 5G, artificial intelligence (AI) and the commercial application of the new cutting edge technologies, the demand for information interaction and data processing is increasing which has sped up the construction of new data centers resulting in creating opportunities for product manufacturers in recent times.
Rising investments in single assets and portfolios, increasing capitalization rates for stabilized data centers, an increase in the worldwide spending on public cloud services and infrastructure, and various government initiatives such as "Digital India" are expected to stimulate the demand for immersion cooling systems in the forthcoming years.
Single-phase is expected to maintain its dominance over the forecast period, on account of its low system, tank and coolant cost; high coolant heat capacity; high dielectric strength; high biodegradability, and low environmental impact or Global Warming Potential (GWP) in comparison to two-phase immersion cooling systems.
Grand View Research has segmented the global immersion cooling market based on product, application, cooling liquid, and region:
Immersion Cooling Product Outlook (Revenue, USD Million, 2016 - 2027)
Immersion Cooling Application Outlook (Revenue, USD Million, 2016 - 2027)
Immersion Cooling Liquid Outlook (Revenue, USD Million, 2016 - 2027)
Immersion Cooling Regional Outlook (Revenue, USD Million, 2016 - 2027)
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Aerospace Forging Market– The aerospace forging market is set to witness significant growth throughout the forecast period owing to increase in air travel, increasing demand for new aircrafts and hence increasing the demand for the aerospace forged components.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: [email protected]