Due to the ongoing transition to paperless assets, the BFSI industry is expected to further push the demand for data centers.
FREMONT, Calif., March 30, 2023 /PRNewswire/ -- BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Data Center Liquid Cooling Market - A Global and Regional Analysis.
According to this study, the growth in remote work, video conferencing, and internet traffic alone caused by the pandemic have been the major factors for the boost of data center capacity, which increased the accelerating transition of regions such as Asia-Pacific and Japan and the Middle East and Africa toward fully digital economies. This has only intensified the rapid evolution of the data center industry.
According to BIS Research's report, as of 2021, the traditional cooling practices accounted for almost 43% of the total data center power consumption; however, efficient cooling systems and replacing existing hydrofluorocarbons (HFC) or hydrochlorofluorocarbons (HCFCs) cooling systems with greener options such as liquid cooling may not only reduce energy consumption but will also help in reducing the carbon footprint of the data centers.
Moreover, the data center has an excellent return on investment, which attracts investors to finance data centers across the globe.
For instance, due to the influence of a few government initiatives, such as the Paris Agreement, data centers and other industries will adopt liquid cooling technologies to decrease the heat that is dissipated, thereby contributing to reducing global warming.
Apart from this, the European Union (EU) has announced to go 100% carbon neutrality in the information and communications technology (ICT) and data center industry, which has encouraged various other economies, such as Japan and South Korea, to adopt similar strategies to tackle the issue of carbon emissions, especially from the ICT industry.
IT and Telecom Sector to be the Leading End-User Segment
The IT and telecom industry is the largest contributor to the demand for the entire data center industry, let alone the market for data center liquid cooling. The industry is driven by data transmission and data processing, with the IT industry producing the largest amount of data from data-intensive applications.
The IT and telecom industry is the backbone of all other industries, as communication is a key factor in the growth of a modern economy. With the establishment of technologies such as improved network speeds, 6G and 5G, virtual and augmented reality operations, and artificial intelligence, the telecommunications industry is developing to cater to huge amounts of data processing. As a result, telecommunication data centers are also transforming to low latency needs and huge data generation.
According to the study conducted by BIS Research on the data center liquid cooling market, out of the total market value of $3.49 billion in 2022, the IT and Telecom sector alone contributed $1.61 billion in revenue. The study further suggests that this trend is expected to continue in the coming years.
Want to learn more about this emerging trend? Request a free sample of the report here à
https://bisresearch.com/requestsample?id=1427&type=download
You can also check out the detailed table of content for this report here à
https://bisresearch.com/requestsample?id=1427&type=toc
Analyst's Take on the Market Projection
According to Debraj Chakraborty, Principal Analyst, BIS Research, "The data center liquid cooling technologies are expected to be a great replacement of the conventional air-based data center cooling techniques. Growing demand for sustainable technologies and ongoing policy changes such as Europe Green Deal, which mandates European Data Centers to become carbon neutral by 2030, are some of the key factors contributing to the growth of this market. Although a promising technology for the industry, many data center operators are reluctant to change. This is majorly due to higher initial cost and lack of standardization."
Speak to an expert analyst for more details.
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
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