Data Center Rack Market Size Flourishes with the Proliferation of Cloud and Edge Data Centers

The Data Center Rack market is driven by escalating data volumes, cloud adoption, edge computing growth, and the need for efficient infrastructure.

PORTLAND, OREGON, UNITED STATES, October 26, 2023 /EINPresswire.com/ -- The data center rack market was valued at $3.9 billion in 2021, and is estimated to reach $9.5 billion by 2031, growing at a CAGR of 9.7% from 2022 to 2031.

The concept of data center rack has gained attraction nowadays due to the increase in need for additional data storage capacity to meet the requirements of internal and external IT services. The data center rack has emerged as a lucrative option to enhance the business continuity and to increase the existing data center capacity. Many enterprises, especially small- and medium-sized enterprises, prefer using data center rack technology rather than investing huge capital in developing their own data centers.

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Furthermore, the market is considerably concentrated with major players consuming significant market share. The degree of concentration will remain the same during the forecast period. The vendors operating in the market are taking several initiatives such as new product launches and partnership to stay competitive in the market and to strengthen their foothold in the market. In addition, companies are heavily investing in R&D activities to develop advanced data center solutions, which is opportunistic for the data center rack industry.

On the basis of industry vertical, the BFSI sector dominated the data center rack market size in 2021 and is expected to continue this trend during the forecast period. Increase in trend among banking and insurance firms to adopt next generation server solutions such as data center rack for their extensive business goals to ensure efficient and effective use of their servers is a major factor that drives the adoption of data center rack in the BFSI sector.

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The manufacturing sector highest growth market share in the upcoming year. The adoption of data center rack technologies in the manufacturing sector is driven by need to maintain closer control of the supply chain, increase productivity through automation, and use data processing to thoroughly manage manufacturing processes. In addition, advanced functions of modular data centers are rapidly being used to consolidate operations as well as to integrate diverse manufacturing & service functions.

Region-wise, North America dominated the market share in 2021 for the data center rack market. Adoption of data center rack growing steadily to meet increasing demands from today’s businesses to enhance their business process and improve the customer experience will provide lucrative opportunities for the market in this region. Moreover, surge in need of data analytics and low cost data storage shifting the inclination of customer service from traditional way of commercial interaction. Data center rack provides opportunities for service providers to set up service based on the latest advanced technology being developed for the data centers.

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Asia-Pacific is expected to exhibit highest growth during the forecast period. This is attributed to increasing demand of data center rack across Asia-Pacific, due to emergence of high-end technologies such as artificial intelligence, high speed 5G network and growing need of low cost and high speed data processing and data storage system and major shift toward digitization impact positively on the data center rack market forecast. In addition, the IT & telecom, BFSI as well as retail sector in Asia-Pacific is actively investing in data center rack, which is expected to drive the growth of the market.

The key players that operate in the data center rack market analysis are Black Box, Eaton Corporation, Great Lakes Data Racks & Cabinets, Oracle Corporation, Schneider Electric, Hewlett Packard Enterprise Development LP, Fujitsu, Dell Technologies Inc., Rittal GmbH & Co. KG, Samsung Electronics Co., Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the data center rack industry.

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