VANCOUVER, BC, Jan. 3, 2023 /PRNewswire/ -- The data center rack market size reached USD 4.08 Billion in 2021 and is expected to register a CAGR of 8.6% during the forecast period, according to latest analysis by Emergen Research. Rising number of data center facilities coupled with increasing implementation of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and Machine Learning (ML) among others across various end-use industries are a few of the factors driving market revenue growth. Increasing usage of such technologies is leading to a high requirement for storage of vast volumes of data which is boosting the demand for data center racks. High demand for secure and off-site storage, as well as improved connectivity, is driving demand for such data center rack facilities.
Racks consolidate IT equipment, such as servers and network switches, into standardized assemblies that maximize space and other resources. Moreover, helps in increasing power protection, cable management, cooling, device management, mobility, physical security, simplicity of installation, and protection from extreme climatic conditions, which is a few of the factors expected to boost demand for data center racks.
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Organizations may use various IT department functions without making huge investments, whereas medium to large organizations can increase data storage capacity while avoiding overhead and resource-intensive maintenance expenses. Furthermore, colocation enhances security by supplying power, bandwidth, and a public IP address to storage devices. Technologies such as virtualization and containerization, blockchains and cryptocurrencies, edge computing, and cloud services are increasing demand for high processing power and high-density racks.
On 16 December 2022, VNG Corporation, which is a well-recognized global standard for classifying data center performance in electromechanical infrastructure, announced the launch of a new data center in Ho Chi Minh City, marking a significant step forward for VNG in offering a full-tier III facility that is carrier neutral. This new world-class data center is now operational, offering excellent uptime infrastructure for all digital service platforms, secure data storage, and innovative cloud solutions, as well as complementing the company's current cloud services for its Vietnamese clients.
The data center is expected to be critical in delivering strong and secure infrastructure solutions for VNG's clients as well as internal requirements, with the facility constructed to Tier III Uptime standards and equipped with technology to improve energy efficiency and availability.
Drivers:
Development of data-hungry technologies such as IoT, AI, and ML with an increase in data generation are some of the key factors driving demand for data center racks. High demand for computer processing is surging with the increasing reliance on power-extensive workloads such as Business Intelligence (BI) and dashboards, custom and ad hoc analytics, hybrid operational and analytic processing, data science, as well as batch processing among others. Rapid growth of e-sports industry is another key factor contributing to the growth of market owing to requirements of high-performance and low latency.
Recent surge in hyperscale deployments is expected to significantly boost the revenue growth of market. On 29 March 2022, Yondr Group, a global leader, developer, owner-operator, and service provider of data centers, entered the Malaysian market with the acquisition of 72.8 acres of property from TPM Technopark Sdn Bhd, which is a fully owned subsidiary of Johor Corporation. The property is ideally positioned in Sedenak Tech Park, a flagship data center complex spanning 700 acres in Johor, Malaysia.
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Restraints:
Presence of Hyperconverged Infrastructure (HCI) and cooling concerns that lead to overheating are factors that are expected to provide some restraints on the growth of market. Electronic equipment cannot function effectively if the temperature is not properly calibrated, and rack servers require a strong cooling system which contributes to high cost of energy. Furthermore, insufficient scalability of rack servers owing to internal space limitations is expected to drive some reluctance among potential customers over the forecast period.
Growth Projections:
The data center rack market is expected to register a CAGR of 8.6% over the forecast period and revenue is projected to increase from USD 4.08 Billion in 2021 to USD 8.56 Billion in 2030. Rising demand for data center colocation facilities is expected to support the revenue growth of the market.
Current Trends and Innovations:
Various trends such as AI and Light Detection and Ranging (LIDAR) technology are emerging that can help secure data centers. Smart technology has been rapidly adopted by businesses and consumers, resulting in broad device internet connectivity via IoT networks. Data centers are required to meet growing computing power with an increase in blockchain technology and cryptocurrency mining.
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Strategic Initiatives:
Major companies included in the market report are Belden Inc., Schneider Electric, Hewlett Packard Enterprise Development LP, Cisco Systems, Inc., IBM, Legrand, Fujitsu, Oracle, Eaton, and Huawei Technologies Co., Ltd.
- On 9 December 2021, Dell Technologies launched a new Dell EMC PowerEdge building block rack servers and small footprint tower servers for customers in India. New servers are expected to support advanced and business-critical workloads to help organizations adapt, innovate, and grow. Servers are designed with office-friendly acoustics and thermals which are ideal for use inside edge and datacenters environments. The new PowerEdge entry-level rack and tower servers, powered by Intel Xeon E-2300 processors, are designed for small and medium-sized organizations, as well as enterprises, to process data securely and with minimal delay.
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Scope of Research
Report Details | Outcome |
Market size in 2021 | USD 4.08 Billion |
CAGR (2022-2030) | 8.6 % |
Revenue forecast to 2030 | USD 8.56 Billion |
Base year for estimation | 2021 |
Historical data | 2019-2020 |
Forecast period | 2022-2030 |
Quantitative units | Revenue in USD Billion and CAGR in % from 2022 to 2030 |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered | Component, size, service, rack height, rack width, rack type, end-users, and region |
Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
Key companies profiled | Belden Inc., Schneider Electric, Hewlett Packard Enterprise Development LP, Cisco Systems, Inc., IBM, Legrand, Fujitsu, Oracle, Eaton, and Huawei Technologies Co., Ltd. |
Customization scope | 10 hours of free customization and expert consultation |
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Emergen Research has segmented data center rack market on the basis of component, size, service, rack height, rack width, rack type, end-users, and region:
- Component Outlook (Revenue, USD Billion; 2019-2030)
- Services
- Solutions
- Size Outlook (Revenue, USD Billion; 2019-2030)
- Small & mid-sized data centers
- Large data centers
- Service Outlook (Revenue, USD Billion; 2019-2030)
- Installation
- Design & consulting
- Maintenance & support
- Rack Height Outlook (Revenue, USD Billion; 2019-2030)
- 42U and below
- 43U up to 52U
- Above 52U
- Rack Width Outlook (Revenue, USD Billion; 2019-2030)
- 19-inch
- 23-inch
- Others
- Rack Type Outlook (Revenue, USD Billion; 2019-2030)
- Open frame
- Cabinets
- End-Users Outlook (Revenue, USD Billion; 2019-2030)
- Energy & utilities
- IT & telecommunication
- Military & defense
- Healthcare
- Banking, Financial Services and Insurance (BFSI)
- Transportation
- Retail
- Others
- Regional Outlook (Revenue, USD Billion, 2019 - 2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
- UAE
- Saudi Arabia
- Africa
- Rest of Middle East
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