Data Center Rack Market to Cross USD 11.06 Billion by 2030 and exhibit a CAGR of 9.9%
As per the report by Fortune Business Insights, the global Data Center Rack Market size is projected to reach USD 11.06 billion by 2030, at a CAGR of 9.9% during the forecast period.
Data Center Rack Market
Pune, India, Oct. 09, 2023 (GLOBE NEWSWIRE) — According to Fortune Business Insights, global data center rack market size was valued at USD 5.31 billion in 2022 and is projected to reach USD 11.06 billion by 2030, exhibiting a CAGR of 9.9% during the forecast period.
In a data center or server room, a data center rack is a standard frame created to contain and arrange computing equipment, networking devices, servers, and other hardware systems. According to industry norms, they are available in a variety of sizes and specifications. Storage devices, servers, switches, routers, and other IT equipment can be stored safely and efficiently in these racks. Fortune Business Insights™ shares this information in its report titled Data Center Rack Market Forecast, 2023-2030.
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Key Industry Development
April 2023: A novel rack-mounted z16 mainframe was launched by IBM Corporation. The new rack-mounted option is 18U and single-frame models are 42U. These racks would allow clients to increase the size of their data center facilities according to their needs.
Key Takeaways
- Rapid Shift to Remote Work amid the Pandemic Increased Market Growth
- Increasing Need for Data Security Accelerated Demand for Cabinets/Enclosed Racks
- Increased Demand for Remote Work Infrastructure Fueled the Market Growth
- Rise in Adoption of High-density and Modular Rack Designs to Propel the Market Growth
- By Data Center Rack Size Analysis: Growing Demand for Large Data Centers among Businesses Propel the Market Growth
Discover the Leading Players Featured in the Report:
“Companies leading the Data Center Rack Market share are Schneider Electric (France), Eaton (Ireland), Fujitsu (Japan), Cisco Systems, Inc. (U.S), Vertive Group Corp. (U.S), IBM Corporation (U.S.), Dell, Inc. (U.S.), Legrand S.A. (France), Oracle Corporation (U.S.), nVent (U.K.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 9.9% |
| 2030 Value Projection | USD 11.06 Billion |
| Base Year | 2022 |
| Data Center Rack Market Size in 2022 | USD 5.31 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 120 |
| Segments covered | Rack Type, Data, Rack Height, Industry and Geography |
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Drivers and Restraints
Increasing Demand for High-density and Modular Rack Designs is Enhancing Market Development
Increasing adoption of high-density racks in data centers to accommodate more computing power in smaller footprints is driving the market growth. The surging need for energy efficiency and reduced space requirements in hyperscale data centers is driving market expansion. Liquid cooling solutions are widely utilized in high-density racks to maintain the heat generated by servers. With the help of coolant, these solutions can efficiently dissipate heat from servers and other hardware.
Data center racks are gaining traction due to their easy scalability. They are evolving to become more modular, which makes it easier to add or remove equipment as needed, to accommodate shifting business needs. These racks include efficient cable management features to clear the clutter and increase ventilation. The performance of data centers is improved by constant advancements in cable management within racks.
Nevertheless, high maintenance costs of data center facilities are expected to hamper market growth over the forecast period.
Segmentation
By Rack Type
- Cabinets/Enclosed Racks
- Open Frame Racks
By Data Center Size
- Small and Mid-Sized Data Centers
- Large Data Centers
By Rack Height
- 40U and Below
- 41U up to 50U
- Above 51U
By Industry
- BFSI
- Retail
- IT & Telecom
- Government
- Healthcare
- Others
By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
Regional Insights
Increasing Demand for Data Center Racks to Boost Market Growth in North America
North America is predicted to hold a major data center rack market share. Increasing demand for data center racks is driving market growth in the region. Rapid digitalization in several organizations to enhance their services in the U.S. is driving market growth.
Asia Pacific is anticipated to grow at the highest CAGR over the forecast period. Strong data center infrastructure is needed for the expansion of telecommunications services and the installation of 5G networks. Growing focus on the adoption of an advanced data center infrastructure is boosting market development in the region.
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Competitive Landscape
Key Companies Focus on Introduction of Industry-specific Solutions to Extend their Global Footprint
Some market players are concentrating on increasing their geographical presence globally. They are working on offering industry-specific solutions. Leading companies are collaborating and acquiring local players to gain a strong foothold across regions.
FAQ’s
How large is the Data Center Rack Market?
Data Center Rack Market size was USD 5.31 billion in 2022.
How fast is the Data Center Rack Market growing?
The Data Center Rack Market will exhibit a CAGR of 9.9% during the forecast period, 2023-2030.
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