Data Centre Rack Market is Expected to Rise at a CAGR of 8.9% During 2021-2028
The Global Data Centre Rack Market was valued at USD 3.9 Billion in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.9% between 2021 to 2028. Large amount of data is generated everyday all over the world. The data centers are very important in IT infrastructure for many businesses and organizations. These data centers effectively manage the data and are responsible for their storage.
Increasing Investments And Deployments Of Data Centers To Spur The Market Growth
Data centers racks are beneficial for cables, switches, host servers and equipment in data centers. They are responsible for managing the infrastructure of the data centers. Moreover, with the advent of technologies the adoption of rack infrastructure and density servers has increased and has become important for data centers. It not only engages in facilitating airflow for tracking optimum performance of these data centers but also effectively manages cables and host servers.
Due to COVID-19 pandemic the production and supply chain disruptions have occurred. It has impacted various sectors and countries all over the world. However, this has increased the use of internet and therefore, increases the dependency on online services and online operations for businesses. This increases the demand for data centers as large amount of data needs to be stored. Therefore, the data centers rack market demand rises as it is responsible for providing infrastructure to data centers.
The data center rack market in segmented on the basis of data center size is bifurcated into large data centers and small & mid-sized data centers. Also, on the basis of verticals the data centers rack market is bifurcated into manufacturing, retail, healthcare, IT & telecom, banking financial services and insurance, transportation & logistics, media & entertainment and energy & utilities.
North America region is expected to grow at a high rate over the coming years and is the dominating region. This is attributable to the growing demand for broadband network and rise in the big data analytics. Moreover, use of cloud-based services has increased in this region. Many small businesses are now moving towards software services and encouraging installations of data centers. Thereby, creating demand for data centers rack.
Some of the major players operating in the global data center rack market includes HPE, Cisco, IBM, Rittal, Dell, Schneider Electric, Vertiv, AGC Networks, Legrand, Oracle, nVent, Great Lakes Data Racks & Cabinets, Tripp Lite, IMS Engineered Products, Rahi Systems, and Chatsworth Products, Eaton, Panduit, Belden, and Fujitsu, among others.