Data centre cooling market to hit $11.85bn by 2020
Revealed as part of recent report published by Research and Markets, demand for cooling technology is on the rise, driven by the increased importance of reducing carbon emissions.
Research and Markets, a US-based market intelligence and research firm, recently released a report projecting significant growth for the global data centre cooling market.
Titled Data Center Cooling Market by Solution, User Type, Vertical: Global Forecast to 2020, the report predicts the market will grow from $6.26bn in 2015 to reach $11.85bn by 2020.
Growing at a compound annual growth rate (CAGR) of 13.6%, Research and Markets points to the growing importance of reducing carbon emissions by organisations as the market’s primary driver.
In addition to curbing the environmental impact of a data centre, cooling technologies can help reduce overall operational costs, which in turn can enhance revenue performance. According to the report, it is estimated that cooling currently comprises of 50% of total data centre power consumption.
With the need to cut back operational costs becoming more and more critical, data centre mangers will likely need to adopt more cost-effective and efficient data centre cooling technologies. The upside is that these potential technologies could reduce energy consumption by 70%.
Research and Markets also put forth the idea of deploying professional assessment techniques. These practices can help data centre managers and owners identify critical hotspots, air flow, and level of emissions in a particular part of the facility. This will in term help operators to deploy the right technology in the right spot.