Growing cyberattacks and digital financial transactions are also boding well for the overall demand for sophisticated data center racks. These factors, coupled with a constant demand for big data analytics and hyperscale data centers is giving impetus to the growth of the global data center rack market. In the modern era of digitalisation and IT technologies, the capacity to reliably handle ever-growing data storage and security needs is the need of the hour. Several economies, businesses, and other organisations are working tirelessly to tackle these challenges. In such a business environment, data centers have emerged as a vital part of the infrastructure to meet these needs. Data center racks are set up mainly to monitor the infrastructure and they hold servers and other equipment. Growing employment of high-density servers is proceeded by cutting-edge data center racks to keep up with the technology’s evolution.
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Increasing Interest in Big Data to Nurture Opportunities for Data Center Rack Market
As technological advancements continually alter the course of several industries, the importance and viability of data science methodologies grow simultaneously. Against this backdrop, the demand for big data analytics has showcased tremendous promise. Data is being produced in the form of texts, photos, videos, audio, and geometrics among others. Big data is an umbrella term used to define this insurmountably large and complex data. As the use of the internet, social media, sensors, scanners, digitizers, smartphones, and emails become more profound, investments in more cutting-edge data management infrastructure are imminent. To this end, the global data center rack market is poised to burgeon in the foreseeable future.
Soaring Demand for Hyperscale Data Centers to Sustain Positive Trajectory of Data Center Rack Market
In the midst of paced adoption of next-gen data science technologies across industries, a large amount of structured and unstructured data is being produced. To manage this challenge, hyperscale data centers are employed to store and safeguard this data. Many cloud-based service providers are investing in focused research and development activities to surmount these data needs. Hyperscale data centers have better storage and security capabilities than conventional data centers. Several government bodies are also funding the construction of hyperscale data center infrastructure to future-proof their economies. Such developments are leading the global data center rack market to greater heights of success.
North America to Lead Data Center Rack Market Owing to Mature Regional IT Industry
On the account of significant data consumption and the high concentration of key market players, North America is dominating the data center rack market. The region is showcasing tremendous promise amidst high investment in data science technologies, growing internet penetration, and supportive government norms. The region’s mature IT industry and robust research and development activities shall function as a long-term fuel for the regional market’s expansion. Moreover, the advent of high-performance computing (HPC), AI and IoT technologies are forecasted to unlock novel opportunities throughout North America in the projection period.
Notable Market Entities
The most prominent players in the global data center rack market include Oracle (US), Dell (US), Schneider Electric (France), Cisco (US), IBM (US), Rittal (Germany), Fujitsu (Japan), HPE (US), Eaton (Ireland), Vertiv (US), Legrand S.A. (France), nVent (UK), Belden (US), Panduit (US), Tripp Lite (US), AGC Network (India), Rahi Systems (US), IMS Engineered Products (US), Chatsworth Products (US), and Great Lakes Data Racks & Cabinets(US).
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