Data Center Rack & Enclosure Market to grow at 10% CAGR from 2018 to 2024: Global Market Insights Inc.
Data Center Rack & Enclosure Market size was valued at over USD 2 billion in 2017, and is set to hit USD 5 billion by 2024; according to a new research report by Global Market Insights, Inc. Data center rack & enclosure market will experience a substantial growth over the forecast timespan owing to the rapid increase in the number of data centers globally. The rise in the number of enterprises has led to a high demand for high-performance facilities that cater to the growing needs of businesses. Increasing number of businesses and enterprises is replacing traditional paper-based documents with digital records to ensure ease-of-operations and the protection of critical information. The cabinets support the networking and IT equipment, such as routers, switches, networks, and networking equipment, in a facility. The demand for high-quality networking equipment from businesses will propel the data center rack & enclosure market.
Technological advancements and the increasing adoption of IoT for various industrial processes are supporting growth of the data center rack & enclosure market. Rapid growth in cloud-based solutions, virtualization, enhanced data processing capabilities, high-performance computing solutions, and the requirement to expand the existing infrastructure are the key factors generating a high demand for the facilities. The enclosures offer advantages such as enhanced cable management options, airflow management capacities, security, and stability over open frame racks. Moreover, factors such as the rise in online activities that tend to generate large amounts of customer-related information, such as financial data, historical preferences, and related data, are causing companies to invest in the construction and modernization of new facilities, thereby driving the data center rack & enclosure market.
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