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Sep 7, 2020 12:00 PM ET

Data Center Rack Market to Grow at a CAGR of 9.56% During the Forecast Period 2020-2025




iCrowd Newswire - Sep 7, 2020

The market for Data Center Rack is analysed to reach $6.13 billion in 2025, and is estimated to grow at a CAGR of 9.56% during the forecast period 2020 to 2025. The significant rise in the demand for the data centers owing to the rising data traffic, 5G deployment across various regions is analysed to be the major factor boosting the Data Center Rack Market growth rate.

By Rack Type

By rack type, the market is segmented into open frame and cabinet. Open frame racks are easy to install and flexible to use and hold highest share in 2019. The open frame racks cost about 1/3rd of the cabinet ones and has proper ventilation. In 2017, Cyber power has launched a series of racks ideal for data center and back office solutions owing to the rising demand. The product series include rack enclosure series, open frame rack series, wall mount enclosure series. Also Open compute Project organization has launched a rack and power project for the racks deployed in data centers to standardise the data center infrastructure. These factors are set to boost the market growth rate.

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By Application:

BFSI is analysed to be the hold highest market share in 2019, followed by the IT & Telecom. With the gradual shift of deploying cloud models for data storage in banks is certainly contributing to the increasing adoption of data centers. This is set to contribute to the market growth rate as the connected solutions require the data centers. BFSI includes the management of banking services, including, core banking, mutual funds, insurance and others which handles the physical servers and the virtual ones as well which is majorly contributing to the market growth rate. IT and Telecom is analysed to grow at significant rate majorly attributed to the 5G deployment.

Geography – Segment Analysis

APAC is analysed to be the dominant region in 2019 owing to the increasing data traffic from the economies such as China and India. The shifting trend towards the digitalization in India involving the projects such as Digital India, Smart cities and others is set to significantly contribute to the growth of the market. All these require the connected solutions thereby boosting the demand for the data center equipment such as racks, power sources, cable management supplies, network equipment and others. The large banking sector in China is also a major factor contributing to the market growth rate. Adding to this, the growing 5G deployment in many countries is set to further escalate the market growth rate.

Drivers – Data Center Rack market

Increasing data traffic

The increasing data traffic at a global level, with the growing demand from the end user majorly from communication sector is set to escalate the market growth rate. The booming demand for the smart phones, and the communication network for entertainment and so on is set to impact the data traffic thereby contributing to the market growth rate of the data center and the racks deployed.

Availability and adoption of durable racks

The significant rise in the adoption of the durable racks in many firms is set create ample amount of growth opportunities for the data center racks thereby contributing to the growth of the market. As the trend of automation and digitalization is significantly rising, the launch of updated rack systems for the requirements is set to escalate the market growth rate. In March 2019, Rittal has launched new AX compact and KX small enclosures that are embedded within digital processes, making for simpler, faster assembly & component installation, enhanced safety and so on.

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Challenges – Data Center Rack market

Emergence of HCI

The traditional data centers require equipment such as racks, network equipment and so on which incur high costs. The hyper converged Infrastructure provides the support to critical applications as they combine storage, server and so on. This saves the cost and fuss of managing a data center. As the complexities with the data centers are significantly high, the adoption of the HCI is significantly rising which is set to hinder the market growth rate.

Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Data Center Rack market. Data Centre Rack driver market is expected to be dominated by major companies such as Eaton, Cisco, Fujitsu, Schneider Electric, IBM, Vertiv, Legrand, Oracle, Panduit among others.

Acquisitions/Technology Launches/Partnerships

In December 2019, Schneider Electric announced the launch of first integrated rack with immersed, liquid-cooled IT for Data Centres.

Key Takeaways

APAC is analysed to grow at highest rate during the forecast period owing to the increasing developments in the communication and adoption of advanced technologies in BFSI sector.
BFSI sector is analysed to hold highest market share in 2019 owing to the high deployment and management of the servers.

The increasing infrastructure development in the communication sector such as 5G is analysed to be the key driving factor for the market.

Related Reports: 

A. Data Center Market

https://www.industryarc.com/Report/19401/data-center-market.html

B. Data Center Logical Security Market

https://www.industryarc.com/Research/Data-Center-Logical-Security-Market-Research-500661

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