Dublin, March 27, 2023 (GLOBE NEWSWIRE) -- The "Data Center Rack Market By Component, By Rack Type, By Data Center Size, By Rack Height, By Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to the report the data center rack market was valued at $3.9 billion in 2021, and is estimated to reach $9.5 billion by 2031, growing at a CAGR of 9.7% from 2022 to 2031.
The Data Center Rack Market is likely to experience a significant growth rate of 9.7% from 2022-2031, owing to increasing market demand from BFSI sector.
Organizations have started to think about their infrastructure requirements in terms of their workloads. With most workloads remaining on premises for the foreseeable future, organizations modernize their infrastructure to handle modern data and workload requirements, notwithstanding supply chain and chip shortage issues. However, cloud adoption is likely to continue to grow in the upcoming year, therefore, businesses are investing in proper network infrastructure to manage their workloads efficiently.
On the contrary, the global data center rack market has been witnessing a steady growth worldwide due to the ever increasing volumes of data generated by different industry verticals. Increased usage of internet-based services along with cloud computing services among organizations have significantly fueled the demand for data centers rack across the world.
Moreover, many sectors such as healthcare, BFSI, IT & telecom, and others industries are investing in data center rack solution to increase security and reduce data center expense in organizations, which in turn fuels the growth of the market.
Factors such as increasing the use of AI and increasing demand for more compact and scalable server types drive the growth of the market. In addition, server virtualization is getting popular and remote control gains more attention, such factors strengthen the growth of the market.
However, poor power management, capacity planning, balancing cost controls with efficiency and time-consuming implementation, hamper the growth of the market.Furthermore, stringent security requirement and emergence of server cooling technologies are expected to provide the lucrative growth opportunities for the market during the forecast period.
The data center rack market is segmented into component, rack type, data center size, rack height, industry vertical, and region. By component, it is bifurcated into solution and services. By rack type, it is divided into on- cabinets/enclosed racks and open frame rack. By data center size, the market is segregated into large data centers and small and mid-sized data centers.
By rack height, the market is classified into below 42U, 43U up to 52U and above 52U. By industry vertical, the market is categorized into BFSI, manufacturing, IT & telecom, retail, healthcare, media and entertainment and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA..
The market players operating in the Data center rack market are Black Box, Eaton Corporation, Great Lakes Data Racks & Cabinets, Oracle Corporation, Schneider Electric, Hewlett Packard Enterprise Development LP, Fujitsu, Dell Technologies Inc., Rittal GmbH & Co. KG, Samsung Electronics Co., Ltd. The players in the market have been actively engaged in the adoption various Strategies such as partnership, product launch, collaboration, and acquisition to remain competitive and gain advantage over the competitors in the market.
For instance, in April 2022, Rittal, a global manufacturer and system solutions provider of industrial and IT enclosures, announced a U.S. partnership with TD SYNNEX, a global distributor and solutions aggregator for the IT ecosystem. Through this partnership, Rittal distributes IT rack enclosures, solutions, and accessories to information technology (IT) customers through TD SYNNEX.
Furthermore, in June 2020, Fujitsu announced the expansion of its storage portfolio with four new series of the Fujitsu Storage ETERNUS, that leverage NetApp's advanced data management software. This launch represents the next step of Fujitsu's strategic partnership with NetApp in offering a data management infrastructure that supports digital transformation.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global data center rack market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global data center rack market trends is provided in the report.
- The Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the global data center rack market from 2022 to 2031 is provided to determine the market potential.
Key Market Segments
By Component
- Solution
- Service
By Rack Type
- Cabinets/ Enclosed Racks
- Open Frame Rack
By Data Center Size
- Large Data Centers
- Small and Mid-sized Data Centers
By Rack Height
- 42U and Below
- 43U up to 52U
- Above 52U
By Industry Vertical
- BFSI
- Manufacturing
- IT and Telecom
- Retail
- Healthcare
- Media and Entertainment
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Black Box
- Eaton Corporation
- Schneider Electric
- Hewlett Packard Enterprise Development LP
- Fujitsu
- Dell Technologies Inc.
- Samsung Electronics Co., Ltd
- Rittal GmbH & Co. KG
- Oracle Corporation
- Great Lakes Data Racks & Cabinets
Key Market Insights
By component, the solution segment was the highest revenue contributor to the market in 2021, and is estimated to reach $5,847.82 million by 2031, with a CAGR of 8.7%. However, the service segment is estimated to be the fastest growing segment with the CAGR of 11.5% during the forecast period.
By rack type, the cabinets/enclosed racks segment dominated the global market share in 2021, and is estimated to reach $6,753.97 million by 2031, with a CAGR of 10.6%.
Based on data center size, the large data centers segment was the highest revenue contributor to the market, with $2,614.65 million in 2021, and is estimated to reach $5,806.64 million by 2031, with a CAGR of 8.7%.
Based on Rack Height, the 42U and Below segment was the highest revenue contributor to the market, with $2,232.05 million in 2021, and is estimated to reach $4,636.08 million by 2031, with a CAGR of 7.9%.
On the basis of industry vertical, the BFSI sector was the highest revenue contributor to the market, with $1,016.89 million in 2021, and is estimated to reach $1,531.82million by 2031, with a CAGR of 4.4%.
Region wise, North America was the highest revenue contributor in 2021, and is estimated to reach $3,457.33 million by 2031, with a CAGR of 7.1%
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: DATA CENTER RACK MARKET, BY COMPONENT
CHAPTER 5: DATA CENTER RACK MARKET, BY RACK TYPE
CHAPTER 6: DATA CENTER RACK MARKET, BY DATA CENTER SIZE
CHAPTER 7: DATA CENTER RACK MARKET, BY RACK HEIGHT
CHAPTER 8: DATA CENTER RACK MARKET, BY INDUSTRY VERTICAL
CHAPTER 9: DATA CENTER RACK MARKET, BY REGION
CHAPTER 10: COMPETITIVE LANDSCAPE
CHAPTER 11: COMPANY PROFILES
Companies Mentioned
- Black Box
- Eaton Corporation
- Schneider Electric
- Hewlett Packard Enterprise Development LP
- Fujitsu
- Dell Technologies Inc.
- Samsung Electronics Co., Ltd
- Rittal GmbH & Co. KG
- Oracle Corporation
- Great Lakes Data Racks & Cabinets
For more information about this report visit https://www.researchandmarkets.com/r/8jc3n8
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