The universal data center cooling market is estimated to reach $17.78 billion by 2024, according to a study by Grand View Research, Inc. The rising demand for cooling solutions and system upgrades for facilities in healthcare, cloud technology, retail, telecom & IT, and energy have contributed tremendously to growth in the industry.
FMs looking to keep their data centers running efficiently have invested or plan to invest in air conditioners, precision air conditioners, chillers, and air handling units, as these are the most purchased items to keep machines from over-heating. Precision air-conditioners make up 20 percent of the data center cooling market, offering humidity controls and automatic AC bursts.
With rising energy costs and the need to cool off more data center components as the infrastructure increases, facilities are expected to spend billions worldwide. Telecommunications providers are the biggest investors, making up 20 percent of the cooling market revenue. The increased demand for Wi-Fi and other wireless communications signals even greater potential for cooling system revenues as technology infrastructure increases and expands.