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Jan 18, 2022, 08:30 ET
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NEW YORK, Jan. 18, 2022 /PRNewswire/ — According to the research report "Data Center Rack Market by Type and Geography – Forecast and Analysis 2021-2025", the market will witness a YOY growth of 10.37% in 2021 at a CAGR of 11.74% during the forecast period. The report is segmented by type (server rack and network rack) and geography (North America, Europe, APAC, South America, and MEA).
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Data center rack market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
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Geographical Market Analysis
APAC will provide maximum growth opportunities in the data center rack market during the forecast period. According to our research report, the region will contribute 29% of the global market growth and is expected to dominate the market through 2025. APAC will generate growth across all the years of the forecast period between 2020 and 2025. The year-on-year growth will be 10.37% during this period.
China and Australia are the key markets for data center rack in APAC. With a market share of 29 percent in 2020, North America dominated the data center rack market among other regions. The increasing number of data center establishments in North America is the key reason for this supremacy. As a result, IT infrastructure, network equipment, and other gadgets are in high demand.
On the other hand, rising demand for 5G-enabled Internet of things (IoT) solutions, as well as industry requirements for high connection with low latency, are likely to boost data center rack demand in North America. Content and digital media, as well as banking, financial services, and insurance, are key industries (BFSI).
Furthermore, countries such as the US, China, UK, Australia, and Germany are expected to emerge as prominent markets for the data center rack market during the forecast period.
Know more about this market’s geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/data-center-rack-market-industry-size-analysis
Key Segment Analysis
The increasing need for servers and storage devices from organizations to support crucial trends such as Big Data analytics is one of the major reasons for the server rack market segment’s growth. The practice of analyzing huge and diverse data sets to uncover patterns and trends that will aid stakeholders in making the best business decisions is known as big data analytics. As a result, the demand for the creation of highly efficient server systems to support exceptionally rapid processing speeds and large amounts of data is growing. This would result in more money being invested in Big Data analytics. As a result, there will be a natural desire to combine high-performance computing (HPC) and Big Data analytics. As a result, demand for servers and storage systems will increase.
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Key Market Drivers & Challenges:
Several companies have been forced to create their data centers or lease data center space due to the tremendous increase in data generated. The growing popularity of cloud computing will increase the demand for data centers. Many businesses are investing in the development of new data centers. The expanding demand for servers and storage devices is reflected in the growing investments in data center building. This would propel the global data center rack market forward. Market vendors are continually developing new rack product portfolios to meet the current and future needs of businesses building data centers. These factors would increase investments in data centers, which, in turn, would boost the adoption of data center racks during the forecast period.
Several businesses are thinking about transferring their operations to the cloud. To establish greater control over business-critical functions, these companies are incorporating an SDDC. To handle network services efficiently, several CSPs and telecommunication providers are using software-defined network/network function virtualization systems. The demand for HPC server infrastructure will rise as a result of this.
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Data Center Rack Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 11.74%
Market growth 2021-2025
USD 1.80 billion
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
APAC at 29%
Key consumer countries
US, China, UK, Australia, and Germany
Leading companies, competitive strategies, consumer engagement scope
Belden Inc., Eaton Corp. Plc, Fujitsu Ltd., Hewlett Packard Enterprise Co., Legrand SA, Oracle Corp., Rittal GmbH & Co. KG, Schneider Electric SE, The Siemon Co., and Vertiv Group Corp.
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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