Data Center Rack & Enclosure Market Size, Share, Growth, and Industry Analysis, By Type (36U, 42U, 45U & 48U and Others), By Application (BFSI, Colocation, Energy, Government, Healthcare, Manufacturing, IT & Telecom and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Data Center Rack & Enclosure Market REPORT OVERVIEW

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The global data center rack & enclosure market size is expanded rapidly in 2022 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2022 to 2031.

Data centre racks and enclosures are basic devices that aid in the prevention of tangling of cords, wires, and other external items. They are also utilised to provide uniform ventilation so that interior innovations and equipment put in cabinets are not affected by temperature changes. End-clients are predicted to continue interested in networking goods that have creative strategies, technology, and the ability to perform many functions. Telecommunication equipment, cooling frameworks, networking equipment, and UPS are all commonly housed in data centre racks and enclosures. They are pre-assembled with slots for networking, electrical connections, and Internet connections. They also help to decrease clutter and keep things running smoothly.

COVID-19 Impact: The Pandemic Upsurged the Data Center Rack & Enclosure Market Growth

Because of the global disruption caused by the coronavirus, the adoption of digital banking solutions is projected to expand to include additional technologies such as containerization, cloud computing, microservices, APIs, and blockchain. As a result, the financial and banking industries are likely to give several chances for data center rack & enclosure to flourish.

Efficient and efficient services that meet new needs while also combating change and difficulties have become a strategic and operational requirement for data centres. Two major factors are driving the enormous increase in demand. The widespread migration of many businesses and institutions to working from home increased the demand for processing capacity. The importance of digital infrastructure to the global economy has never been greater.

LATEST TRENDS

"A Key Component in IT Infrastructure, Cloud Computing, Big Data Analytics to Attract the Market Share"

Data centres have become an important component of many firms' IT infrastructure. With massive volumes of data generated every day, businesses rely on data centres to handle data and storage efficiently. As a result, the increasing deployment of data centres worldwide is the primary driving factor impacting datacenters rack utilisation. The growing demand for technology services, as well as investments from significant corporations, are influencing data center rack & enclosure market growth.

Furthermore, the main factors driving the data center rack & enclosure market expansion are Big-data analytics and IT infrastructure modernization trends. Big data analytics assists in the management of complex and disorganised organisational data that is processed across various data centres. During the projected period, rising cloud demand and data traffic flowing from and within data centres are likely to boost global data center rack & enclosure demand.

Data Center Rack & Enclosure Market SEGMENTATION

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• By Type Analysis

Based on type, the data center rack & enclosure market is subdivided into 36U, 42U, 45U & 48U and others.

The 36U is the leading part of the type segment.

• By Application Analysis

Based on the applications, the data center rack & enclosure market is subdivided into BFSI, Colocation, Energy, Government, Healthcare, Manufacturing, IT & Telecom and others.

The BFSI is the leading part of the application segment.

DRIVING FACTORS

"The Extensive Applications in the Leading BFSI Segment to Amplify the Market Share"

Because of the substantial presence of BFSI in developed nations such as North America and Europe, digital service penetration has expanded. This is partly due to a higher level of knowledge about digitalization in these places. Together with this, Asia-Pacific is rapidly expanding due to a large user base for these services. Economies such as China and India are seeing a significant move towards cloud services in the banking sector. The expansion of online payment expands the demand for data centres in the BFSI sector. Customers' information is safely stored by banks and financial institutions in on-premise and cloud data centres, as well as on trading floors and in branch operations.

"Rapid Growth in Number of Organizations and Digitalization to Advance the Market Share"

Increasing global growth in the number of organisations has resulted in an increase in the number of facilities for efficiently storing and processing information. Digitalization is boosting demand in advanced cabinets across many industries, including IT and telecom, BFSI, healthcare, manufacturing, retail, and government. A large amount of data being produced has increased interest in creative systems networking equipment for storing the information, hence bringing relevance to the data centre rack & enclosure market. The growing popularity of high-thickness cabinets, together with the growing importance of cooling, force, and proficiency, has highlighted the necessity for productive cabinets.

RESTRAINING FACTORS

"Higher Maintenance and the High Cost of Devices to Restrain the Market Growth"

Increasing maintenance costs for data centre racks and enclosures, as well as the increasing availability of containerized data centres, may function as market restrictions. A significant hurdle for market expansion is the demand for highly skilled labour for item creation. Concerns include a lack of uniform standards and interoperability challenges. Server hardware demand is declining as a result of consolidation.

Data Center Rack & Enclosure Market REGIONAL INSIGHTS

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"North American Region to Lead  With Presence of Large Number of Data Centres and Major Key Players"

The rapid rise of mobile broadband, as well as an increase in big data analytics and cloud computing, are some of the drivers driving demand for new data centre infrastructures in the North American region. The region also has a large number of data centres. Several businesses are shifting from hardware to software-based services, and this is expected to create an addressable market for data centre deployments. The United States has the most data centres in the world, and it is experiencing rapid expansion in terms of the volume of big data and traffic as the number of hyperscale data centres grows. To attract more customers and obtain a larger data center rack & enclosure market share, the main manufacturers provide an integrated power, cooling, and IT infrastructure.

KEY INDUSTRY PLAYERS

"The Prominent Players Contributing in the Market Growth"

The market's worldwide, regional, and local participants are diverse, and the data center rack & enclosure market is moderately competitive. Nonetheless, due to their strong brand names and extensive distribution networks, a few important worldwide corporations dominate a large amount of the sector. Businesses have been discovered investing in cutting-edge technology in order to provide their clientele with a digital transformation.

List of Market Players Profiled

• Eaton Corporation (Ireland)
• Fujitsu Ltd. (Japan)
• IBM corporation (U.S.A)
• Schneider Electric SE (France)
• Crenlo (Emcor) (U.S.A)
• Dell Inc. (U.S.A)
• Delta Power Solutions (U.S.A).

REPORT COVERAGE

The report examines elements affecting the demand and supply sides and estimates dynamic market forces for the forecast period. The report offers drivers, restraints, and future trends. After evaluating governmental, financial, and technical market factors, the report provides exhaustive PEST and SWOT analysis for regions. The research is subject to alteration if the key players and probable analysis of market dynamics change. The information is an approximate estimate of the factors mentioned, taken into consideration after thorough research.