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Data Center Rack and Enclosure Market Revenue 2021 | Global Industry Trends and Forecast to 2027: Global Market Insights Inc.
Data Center Rack & Enclosure Market Growth Predicted at 9% Through 2027: GMI
The BFSI sector is likely to create promising new opportunities for the data center rack and enclosure market during the forecast timeline as internet banking, smart cards, and digital wallets continue to grow in popularity.
The data center rack and enclosure market size is anticipated to record a valuation of USD 5 billion by 2027, according to the most recent study by Global Market Insights Inc. Market growth will be sustained by the rise in data center installations across developing regions. Currently, there is a massive demand for robust IT infrastructure solutions that can pack various IT components such as servers, networking equipment, and storage in a compact space. The industry will also benefit from the budding popularity and modular and micro data centers.
Racks and enclosures offer active ventilation to IT components and ensure that the equipment doesn't overheat. Their demand is increasing with the emergence of new hyperscale cloud data centers in developed as well as emerging countries. Leading cloud providers such as IBM, AWS, Google Cloud, Microsoft, and Oracle are likely to invest in high-quality, robust racks and enclosures for future data center expansions.
Highlighted below are some of the major upcoming trends in the data center rack and enclosure market.
Open frame racks - a top notch solution for increasingly complex infrastructures
Racks and enclosures are available in a variety of sizes that depend on the size of the IT components to be placed within them. Open frame racks are likely to experience notable demand over the coming years. The growing complexity of data center infrastructures is a key factor driving this demand.
Open frame racks are typically designed without sides or doors and find application where the rack doesn't need to control airflow or offer physical security. They are ideal for distribution frame and network wiring applications, which have high-density cabling as they provide convenient access and ample open space for managing cables.
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Increasing internet penetration fosters APAC data center rack and enclosure market
Demand for efficient data center infrastructure solutions such as racks and enclosures in Asia Pacific is increasing because:
- Internet penetration in the region is increasing led by constant government efforts to boost internet availability. For instance, the Asia Pacific Information Superhighway is an initiative to enhance the affordability and accessibility of internet by strengthening the internet infrastructure.
- APAC is a major hub for some of the world's largest tech developers. These companies are leveraging cloud computing, AI, IoT, and other advanced technologies for designing smarter and more efficient solutions, generating massive amounts of data each hour.
The exponentially rising volumes of data generated, and continuous data center expansion will propel the Asia Pacific data center rack and enclosure market forward over the forecast period.
Emerging opportunities in manufacturing sector with rise of industrial automation
Today, the manufacturing sector is increasingly driven by industrial automation. The deployment of AI and robotics to power smart factory operations and the penetration of IoT is intensifying data storage demand. High-performance IT and network infrastructures are required to support AI, robotics, IoT, and connected technologies.
On account of these factors, hyperscale data center adoption in the manufacturing sector is gathering pace. It is estimated that the manufacturing sector will capture a substantial share of data center rack and enclosure market by 2027.
The BFSI sector is likely to create promising new opportunities for the market during the forecast timeframe as internet banking, smart cards, and digital wallets continue to grow in popularity. The recent COVID-19 pandemic has fueled the adoption of cashless payments significantly, resulting in surging amounts of digital data. The trend will only gain momentum in coming years, positively impacting the data center rack and enclosure market value.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Original Source: Data Center Rack and Enclosure Market Revenue 2021 | Global Industry Trends and Forecast to 2027: Global Market Insights Inc.
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