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Data Center Rack Market - Global Industry Analysis, Trends by 2031
The global data center rack market is expected to reach US$ 13.52 Bn by the end of 2031Data center rack is a frame that is designed to house servers, cables, and other data center components. This physical steel and electronic framework allows for the placement and orchestration of devices within a data center facility. Data racks are used in IT & telecom, BFSI, manufacturing, and other industries. Individual mounting structures, such as colocation racks, are used to stack numerous hardware units and services on top of each other. They offer security, cooling, and ease in system troubleshooting.
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Durable data center cabinets are primarily designed to house servers of various form factors such as rack-mounted servers and blade servers. They are also designed to hold other components including telecommunication equipment, networking equipment, cooling systems, and UPS. Each rack is generally prefabricated with slots for connecting electrical, networking, and internet cables. Data center server racks are built according to a systematic design and classified based on their capacity or number of bays.
Big data analytics has been witnessing rapid growth over the last few years, owing to technological advancements in various industries. Big data primarily refers to digital data in the form of texts, geometries, images, videos, and sounds. Data can be collected from several sources such as sensors, digitizers, scanners, numerical modeling, mobile phones, internet, videos, e-mails, and social networks. Big data sources are likely to send massive amounts of data to data centers, thereby increasing inbound bandwidth requirements.
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Big data analytics help manage complex and unstructured organizational data collected from numerous sources, which is processed across multiple data centers. Thus, organizations across the globe are investing in new data centers to store and monitor the collected data. Data centers were previously designed to store rational data. However, data centers with larger capacities are now required to store unstructured and structured data in large volumes. Hence, the data center network infrastructure must be modified or upgraded to accommodate the increase in volume and velocity of data. These opportunities are expected to accelerate advancements in data center storage hardware and network infrastructure; and boost the deployment of innovative methods to manage data centers with big data loads. Thus, rise in traffic of organized and unorganized data is projected to propel the data center rack market during the forecast period.
Expansion in the IT infrastructure of various industry verticals generates considerable amounts of structured and unstructured data. This creates the need for the development of hyperscale data centers to store and secure the generated data with high-security services. Adoption of cloud-based applications and services by IBM, Amazon, Google, and Microsoft helps generate a significant amount of data. This results in the replacement of traditional public cloud data centers with hyperscale data centers to focus on improving their data storage capability. Increase in usage of smartphones, social media websites, and OTT platforms is also generating large volume of data, thereby augmenting the demand for large-sized data centers.
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Governments across the globe are increasingly investing in the development of hyperscale data center infrastructure to address rise in consumer and corporate demand for digital services. Increase in penetration of advanced technologies such as IoT, AI, and ML in different industries further generates a large amount of data that requires hyperscale data centers for storage. Thus, growth in investments in the development of hyperscale data centers is fueling the global data center rack market.
North America is expected to hold prominent share of the global data center rack market by the end of 2022, owing to the increase in development of IT infrastructure as per customer needs of data storage and maintenance. Presence of a large number of IT & telecom companies in countries such as the U.S. and Canada helps increase the deployment of data centers and their services in the region.
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The market in Asia Pacific is expected to grow significantly during the forecast period due to expansion of the IT sector in the region. The market in Europe is expected to generate a revenue of US$ 1.74 Bn by 2031, advancing at a CAGR of 11.3% during the forecast period. The market in South America and Middle East & Africa is driven by the increase in adoption of hybrid cloud solutions and usage of interconnected solutions with the help of colocation services.
The global data center rack market is consolidated, with a few large-scale vendors controlling majority of the share. Most of the firms are investing significantly in comprehensive research and development activities. Expansion of product portfolios and mergers and acquisitions are key strategies adopted by prominent players. Cisco Systems, Inc., Black Box Corporation, Chatsworth Products, Inc., Dell Inc., Eaton Corporation Plc, Fujitsu Limited, IBM Corporation, Huawei Technologies Co., Ltd., Hewlett Packard Enterprise Development LP, Legrand SA, Oracle Corporation, Rittal GmbH & Co. KG, Schneider Electric SE, Belden Inc., and Vertiv Group Corp. are major entities operating in this market.
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