The data center rack & enclosure market in Asia Pacific is projected to experience substantial growth and will reach USD 1 billion by 2024 owing to the rise in the number of businesses coupled with the shifting trend toward digitalization of all processes. Rapid urbanization in India, growth in the internet penetration, and the expanding telecommunication sector will lead to a mounting pressure to handle the increasing amount of data. In addition, the advanced electronics industry of Japan will provide strong growth opportunities for the Asia Pacific data center rack & enclosure market. The proliferation of technologies, such as AI, IoT, and cloud, in the manufacturing sector will further contribute to the demand for innovative infrastructure.
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With data centers touted to be the miracle machines supporting critical IT infrastructure, data center rack and enclosure market seems to have registered an impressive growth in the recent years. Owing to the rapidly proliferating connected lifestyles, the use of data and connected devices has been staggering lately. In the United States, the number of devices and connections was 7.3 per person in 2015 and is expected to grow to over 12 per person in 2020. The popularity of video continues to grow more than ever, with internet video reaching 4.8 exabytes by 2020 – more than a fourfold growth as compared to figures in 2015.
Growth drivers of data center rack & enclosure market: –
- Growing demand for seismic cabinets for critical environment
- Increasing usage of online services in North America and Europe
- High investment in data center upgrades in the U.S.
- Rapid infrastructure development of various end-use segments in Europe
- Growth of mega and hyperscale data centers in Nordic countries
- Increasing deployment of data center facilities across Asia Pacific
- Widespread adoption of cloud computing and IoT in China and India
- Increase in construction of new data centers and replacement of existing facilities in parts of South America
- Flourishing services industry in South America
- Penetration of colocation data centers in Brazil
- Development of smart cities in the Middle East
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The hardware segment accounted for over 80% of the data center rack & enclosure market and will experience growth owing to the growing demand for high-quality infrastructure from several domains such as BFSI, healthcare, government, manufacturing, IT & telecom, colocation, and government. Infrastructural upgrading in the facilities and the growing importance for a high-density server environment are driving the data center rack & enclosure market. Moreover, increasing efforts directed toward ensuring rack level physical security are expected to aid the industry growth. Racks equipped with cooling systems are gaining significance owing to the growing demand for enhanced cooling solutions. The infrastructure operators are stressing on building sensors and camera-infused rack level security systems.
The growth of data center rack & enclosure market is dominated not only by developed countries but also emerging economies in Asia-Pacific which have been a home for thriving IT industry. For the record, APAC data center rack and enclosure market is estimated to surpass USD 1 billion by 2024. South America is another region entailing a booming data center rack and enclosure industry expansion, with reportedly 88 colocation facilities in numerous locations. Brazil is leading the South American data center rack and enclosure market as it enables companies to build facilities at lower cost and the improved telecommunication sector offering enhanced connectivity.
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The requirement for the expansion of the existing infrastructure due to rapid progress of virtualization, adoption of IoT, high performance computing and enhanced data processing capabilities will create widespread opportunities for data center rack and enclosure market players. Powered by the rapidly changing demands of today’s tech-savvy consumers, data center rack & enclosure market is expected to cross USD 5 billion by 2024.