With frequent advancements in technologies these days, every aspect of the IT industry from applications to infrastructure is constantly evolving. To keep up with the pace of this evolution, the data also need timely renovation to prevent them from being outdated. Besides, it increases the available space and boosts the performance of the underlying facility infrastructure, supporting IT load requirements. Moreover, it also reduces the need for maintenance and administration, and meets the growing demand for data centers. To curb carbon emissions, businesses and governments are taking drastic measures such as encouraging the use of renewable energy to power data centers. In addition, cutting-edge technological developments are expected to improve efficiency of data centers. These factors are assuring influential growth across the data center renovation market in the coming years.
Significant Rise in Data Generation Volume to Prolong Market Expansion
Individuals worldwide are increasingly consuming content through social media and various OTT platforms. This is due to the growing adoption of connected devices and enhanced internet access. As a result, demand for big data analytics and cloud-based service has grown at a record pace. In order to store and manage cloud-related documents, various sectors are advancing towards cloud-based products, realising the advantages of data center services. This has contributed to the rise of the Internet of Things (IoT), thus, triggering the need for data centers around the globe. Therefore, the proliferation of the volume of data generated is projected to drive the demand for storage. This, in turn, is creating new revenue opportunities for the data center renovation market.
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Installation of Cooling Products to Build Momentum for the Data Center Renovation Market
Data centers are operated 24/7 and create a huge amount of heat. The need to mitigate the heat and ensure that the IT equipment functions properly is creating the demand for optimal and cooler atmosphere. To this end, a cooling system is installed in every data center that manages the extra heat generated by IT equipment including CPUs servers. In addition to this, the cooling systems are also responsible for protecting IT and electrical equipment from corrosion and maintaining the stability of humidity levels. A proper working environment reduces the chances of downtime and data loss, thus, ensuring that the data centers run efficiently. The cumulative force of these notable factors is expected to create strong growth prospects for the data center renovation market.
North America to Sustain its Lead with Increased Data Centre Construction
North America has emerged as a suitable region for the establishment of data centers due to increased metro infrastructure development. The ongoing and planned data centers projects are expected to expand the data center renovation market in the region. Being the regional hub of major cloud services companies, the United States is expected to experience the highest during the forecast period. These companies are making significant efforts to expand data storage and processing capacities by substantially investing in the construction of mega facilities. Against this backdrop, the data center renovation market in North America is anticipated to flourish throughout the projection timeframe.
Prominent Market Players
Some of the most competitive players in the data center renovation market include APL Data Center, Schneider Electric, Cisco Systems, Vertiv Co., Inc, Black & Veatch Holding Company, Eaton Corporation, Panduit Corporation, Dorsalys (Eiffage Energie Systèmes'), and IBM Corporation.
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