The global data center solutions market is estimated to grow from USD 18.56 Billion in 2015 to USD 32.30 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 11.7% during the forecast period, according to a newly released report.
Factors such as increasing use of smart devices, growing usage of mobile data, and rich connectivity of internet and data storage in various industries is driving the growth of data centers. Enormous data is generated on a daily basis, which requires additional or increased storage space thus leading the growth of the data centers. Additionally, many companies are moving toward cloud-based models due to increasing data storage requirements.
Moreover, data centers are witnessing rapid change and organizations are implementing equipment refresh cycle by adding or removing assets due to the technological advancements. This requirement of storage space increases the demand for associated data center assets and power and cooling solutions. Increasing data centers increases the amount of heat generated in data processing and thus creates the need for efficient data center power and cooling solutions.
Data center professionals and managers are considering effective IT equipment that helps in reducing total data center energy use. There are various government and regularity bodies worldwide that are imposing strict regulations to reduce carbon footprints of data centers. Organizations are working toward implementing such power solutions and practices that are able to deliver energy efficiency with minimum carbon emission.