Data Center Rack Market is expected to hit US$ 7,664.06 Bn by 2027- Credence Research

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Data Center Rack Market is expected to hit US$ 7,664.06 Bn by 2027- Credence Research
The market for data center rack is expected to grow from US$ 4,301.8 million in 2021 to US$ 7,664.06 billion by 2027 with a CAGR of over 8.6% during the forecast period from 2021 to 2027.

The latest market report published by Credence Research, Inc. “Global Data Center Rack Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The market for data center rack is expected to grow from US$ 4,301.8 million in 2021 to US$ 7,664.06 billion by 2027 with a CAGR of over 8.6% during the forecast period from 2021 to 2027.

Global Data Center Rack Market, 2020 – 2027 (USD Million)

Browse the full report at  – https://www.credenceresearch.com/report/data-centre-rack-market

Investments in Data Centers

Innovations in information technology for data centers improve performance and hence boost expenditures in data center upgradation and modernization. With increased investment in IT infrastructure, the global data center rack market is expanding. According to the Chief Information Officers Council, federal spending on IT infrastructure was $88.7 billion in 2016, with IT accounting for 43 percent of this total ($34.7 billion). Government expenditure on data centers is increasing in order to improve the government’s cyber security posture, save money, and reduce data center energy use. The government spent $4,444 million on data centers in 2016.

Asia Pacific is expected to grow at the highest CAGR during the forecast period

During the forecast period, the Asia Pacific data center rack market is expected to expand at the fastest CAGR. China, Japan, India, South Korea, and Australia are among the major countries driving the market in this region. China is one of the most important markets in the Asia-Pacific data center rack industry. The China data center rack market has grown at an exponential rate as a result of significant investment by international businesses in industries such as healthcare, FMCG, telecommunications, and information technology. Businesses required cloud computing and networking technology to store and manage data on a real-time entity basis. Furthermore, India is expected to grow at the fastest CAGR during the forecast period. India is one of the most influential countries, with a favorable environment for the amount of investment in the IT industry. The Indian government also recognized the importance of data centers and established a number of data centers under the umbrella of the National Informatics Center.

Global Data Center Rack Market key Players:

Some of the key players operating in the global data center rack market are Oracle Corporation, Fujitsu Ltd, Cisco, Hewlett-Packard Company, Huawei Technologies, Eaton Corporation Plc, Emerson, Rittal Gmbh & Co. Kg, Lenovo, Schneider Electric, Tripp Lite, Black Box Corporation, NEC Corporation, Quanta Computer Inc, Dell, Inc. Most companies have launched various products in the market in order to increase their business in a competitive market. Products are used in a variety of industries. This will help to increase sales and enter potential markets, generating revenue for the organization.

Market Segmentation

Global Data Center Rack Market by Component, 2015 – 2027

  • Solutions
  • Services
    • Professional Services
    • Managed Services

Global Data Center Rack Market by Rack Type, 2015 – 2027

  • Open Frame
  • Cabinets

Global Data Center Rack Market by Rack Height, 2015 – 2027

  • 42U and Below
  • 43U up to 52U
  • Above 52U

Global Data Center Rack Market by Rack Width, 2015 – 2027

  • 19 Inch
  • 23 Inch
  • Others (24 Inch and 28 Inch)

Global Data Center Rack Market by Data Center Size, 2015 – 2027

  • Small and Mid-sized Data Centers
  • Large Data Centers

Global Data Center Rack Market by Industry, 2015 – 2027

  • Banking, Financial Services, and Insurance
  • Energy and Utilities
  • Government and Defense
  • Healthcare
  • IT and Telecom
  • Manufacturing
  • Retail
  • Others

Global Data Center Rack Market by Company, 2015 – 2027

  • Black Box Corporation
  • Cisco
  • Dell, Inc
  • Eaton Corporation Plc
  • Emerson
  • Fujitsu Ltd
  • Hewlett-Packard Company
  • Huawei Technologies
  • Lenovo
  • NEC Corporation
  • Oracle Corporation
  • Quanta Computer Inc
  • Rittal Gmbh & Co. Kg
  • Schneider Electric
  • Tripp Lite

Browse the full report at  – https://www.credenceresearch.com/report/data-centre-rack-market

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