Data Center Renovation Market - By Product (Cooling, Power, IT Racks & Enclosures, Networking Equipment, LV/MV Distribution, DCIM), By Application (BFSI, Colocation, Energy, Government, Healthcare, Manufacturing, IT & Telecom) & Forecast, 2022-2028

Industry Trends

Data Center Renovation Market size exceeded USD 15 billion in 2021 and is projected to expand at over 20% CAGR from 2022 to 2028. The rising number of expansion plans by data center providers will propel the market growth.
 

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Service providers are enhancing their existing set-ups to cater to the large customer base. In April 2020, Netrality Data Centers announced the completion of a series of substantial infrastructure upgrades & renovations to its interconnected data center in Kansas City. The company invested in cooling, power, and mechanical improvements to increase primary & backup power generation. It created additional meet-me-rooms, new floor cage spaces, uninterrupted power supply arrangements, and colocation cabinets. The upcoming expansion projects will lead to the growing demand for UPS, racks & enclosures, and cooling systems, thereby escalating the industry growth.
 

The outbreak of COVID-19 moderately affected the market in 2020. The market witnessed a steady growth in 2021, since, as the pandemic accelerated, the existing data centers faced challenges in meeting the rising data storage demand. Hence, to cater the growing demand, the companies emphasized making the necessary changes in their solution offerings. It is expected in the coming years that the data center industry participants will focus on increasing their investment to construct and upgrade the existing data center facilities to meet the growing data storage demand.
 

Demand for reduced power consumption in data centers will fuel the market progression for cooling solutions in Germany

The Germany data center renovation sector is predicted to observe over 15% growth rate till 2028 due to increasing R&D investments. The enhanced demand for advanced back-end IT systems can be attributed to the rising dependency on digital platforms for payment, entertainment, and shopping purposes. This encouraged market players to improve their existing portfolios.
 

For instance, in June 2021, Schneider Electric launched all-in-one liquid cooling module. The solution features a chassis-level precision immersion cooling, enabling the deployment of various kinds of GPU & CPU with better reliability in remote & harsh environments. The cooling module is applicable for the industrial manufacturing, military, automotive, oil & gas, mining, and telecom sectors. The market will grow owing to the introduction of new & high-end market solutions.
 

Digitalization in the BFSI sector is boosting the demand for data center infrastructure upgrades in Japan

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The Japan data center renovation market accounted for around USD 1 billion in 2021led by the growing digitalization across the BFSI sector. With a rapid increase in the use of digital services, such as online banking, mobile wallets, and UPI payments, several companies are emphasizing on upgrading their existing structures for effectively catering to customer needs. The rising focus on enhancing customer experience will spur the need for solutions, such as UPS, networking equipment, and DCIM, for upgrading current data center facilities, subsequently stimulating data center renovation sector growth.
 

Government initiatives to limit data center power consumption will drive the market expansion in North America region

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North America data center renovation market held 40% of revenue share in 2021 impelled by the rising concerns from government bodies related to data center energy usage. As per the U.S. Office of Energy Efficiency & Renewable Energy, data centers need nearly 10 to 50 times extra energy as compared to a regular commercial office building in terms of energy consumed per floor space. Significant electricity requirements have encouraged government authorities to implement stringent rules to reduce energy consumption.
 

Partnerships and launch of new solutions are key penetration and customer acquisition strategies implemented by market players

The key participants operating in the market are Vertiv Co., Eaton Corporation, Schneider Electric, Cisco Systems, Inc, APL Data Center, Black & Veatch Holding Company, Panduit Corporation, Dorsalys (Eiffage Énergie Systèmes'), and IBM Corporation. These leaders are focusing on collaborations to surge the R&D activities and increase their market presence across multiple locations.
 

Market research report on data center renovation includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2028 for the following segments:

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Market, By Product

• Cooling
• Power
• IT racks & enclosures
• Networking equipment
• DCIM

Market, By Application

• BFSI
• Colocation
• Energy
• Government
• Healthcare
• Manufacturing
• IT & telecom
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Poland
  • Benelux
• Asia Pacific
  • China
  • India
  • Japan
  • Singapore
  • Australia
  • Indonesia
• South America
  • Brazil
  • Colombia
  • Chile
  • Peru
  • Argentina
• MEA
  • GCC
  • South Africa