Data Center Equipment Market Research Report By Component (Solution and Service), By Rack Type (Cabinets/ Enclosed Racks and Open Frame Rack), By Data Center (Large Data Centers and Small and Mid-Sized Data Centers), By Vertical (IT and Telecom, Banking a

According to MRFR, the Global Data Center Rack Market has grown in recent years. It is estimated to reach USD 10,730.38 million by 2032, growing at an 8.86% CAGR over the forecast period (2024-2032).

The data center equipment market is a dynamic landscape shaped by several main trends. The increased adoption of cloud computing and digital infrastructure is a primary driver, with cloud providers and organizations expanding their data centers to meet rising data storage and processing demands. Furthermore, the proliferation of IoT devices and the expansion of data-intensive applications are driving up demand for data center equipment.

Market Segment insights
The worldwide Data Center Rack market is divided into several segments, including component, rack type, data center size, rack height, industrial vertical, and geography.

The market is divided into two categories based on component: solution and service. In 2023, the solution segment will hold the greatest market share. This is due to the growing need for improved cooling solutions, rack management systems, and PDUs, which are driven by the requirement for efficient and dependable data center operations.

By rack type, the market was divided into cabinets/enclosed racks and open frame racks. The cabinets/enclosed racks segment has a significant market share in 2023 and is predicted to grow at a CAGR of 9.01% throughout the forecast period, owing to its security features and good cooling management, making them ideal for large data centres and companies with high security requirements. The open frame rack category is predicted to grow at a CAGR of 8.93% throughout the forecast period.

The market is divided into large, small, and medium-sized data centers. The large data centers category will account for the majority of the market in 2023, driven by rising demand for big data analytics, cloud services, and business applications that require substantial infrastructure.

The market was divided into three categories based on rack height: 42U or lower, 43U to 52U, and 52U or higher. The 43U to 52U segment leads the market due to its balance of capacity and manageability, making it ideal for both mid-sized and large data centers.

The market was divided into industry verticals such as BFSI, manufacturing, IT and telecom, retail, healthcare, media and entertainment, and others. The IT and telecom segment has the biggest market share because to the continued development of digital infrastructure, telecommunications networks, and cloud computing.

Regional Analysis
The data center rack market is segmented into five regions: North America, Europe, Asia-Pacific, and the Rest of the World. North America dominated the data center rack market in 2023; Asia Pacific ranked second in terms of market share and is predicted to develop at the fastest rate during the forecast period 2024-2032.

Major Players
Siemens, Emerson Electric Co., S Electric, Schneider Electric, Dell Technologies, IBM, General Electric, Eaton, ABB, Emerson Electric, Hewlett Packard Enterprise, Rittal, Vertiv, Cisco Systems, and Huawei Technologies are among the data center equipment market's key players.