Data Center Rack Market Growing at 9.7% CAGR | Reach USD 9.5 Billion by 2031 Globally
Data Center Rack Market Value
The global data center rack market was valued at USD 3.9 billion in 2021, and is projected to reach USD 9.5 billion by 2031, growing at a CAGR of 9.7% from 2022 to 2031.
Driving Factors Data Center Rack Market
Rise in popularity of server virtualization & remote control, and increase in adoption of data center rack technology across enterprises to enhance the operation & productivity drive the global data center rack market. Stringent security requirement and increase in demand for more compact and scalable server types will present new growth opportunities for the global graphene electronics market in the coming years.
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Market Segmentation Data Center Rack Market
The data center rack market is segmented into component, rack type, data center size, industry vertical, rack height and region. By component, it is bifurcated into solution and service. By rack type, it is divided into cabinets/ enclosed racks and open frame rack. By data center size, the market is segregated into large data centers and small and mid-sized data centers. Basis of rack height, market is classified into below 42U, 43U up to 52U and above 52U. By industry vertical, the market is classified into BFSI, manufacturing, IT & telecom, retail, healthcare, media and entertainment and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Players Data Center Rack Market
The key players that operate in the data center rack market analysis are Black Box, Eaton Corporation, Great Lakes Data Racks & Cabinets, Oracle Corporation, Schneider Electric, Hewlett Packard Enterprise Development LP, Fujitsu, Dell Technologies Inc., Rittal GmbH & Co. KG, Samsung Electronics Co., Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the data center rack industry.
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North America Leads, Asia-Pacific Emerges as Fastest-Growing Region
In 2021, North America dominated the global data center rack market, capturing nearly 50% of the total revenue. This regional leadership is expected to continue through 2031, driven by growing investments in advanced technologies aimed at enhancing both operational efficiency and customer experience. The adoption of modern data center rack solutions is anticipated to unlock significant growth opportunities for businesses across the region.
On the other hand, the Asia-Pacific region is projected to record the highest compound annual growth rate (CAGR) of 12.6% during the forecast period. This rapid expansion is attributed to the increasing digitalization and accelerated adoption of advanced technologies across industries, which are fueling demand for modern data center infrastructure.
Rack Type Analysis
By rack type, the cabinets/enclosed racks segment emerged as the market leader in 2021, accounting for approximately two-thirds of global market revenue. This segment is expected to maintain its dominance through 2031 and is also projected to grow at the fastest CAGR of 10.6%. The increasing importance of enclosed racks and cabinets as critical components of IT infrastructure is a key driver behind this growth, particularly in enterprise and hyperscale data centers.
Rack Height Insights
In terms of rack height, the 42U and below segment held the largest market share in 2021, contributing nearly 60% of global revenue. This dominance is largely due to its compatibility with a wide range of servers and rack-mountable networking equipment, making it a flexible and widely adopted solution.
However, the 43U to 52U segment is expected to witness the fastest CAGR of 12.0% throughout the forecast period. As organizational data needs grow, larger rack sizes are being adopted to accommodate higher-density equipment and maximize space efficiency within data centers.
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COVID-19 Scenario:
● The COVID-19 outbreak positively impacted the data center rack market, as data center rack technologies helped enterprises to address the extensive capacity demand data storage.
● Moreover, the pandemic was opportunistic for the data center rack market forecast, as organizations across the globe adopted data center rack to enable their business objective during work from home initiatives.
● On the other hand, the demand for data center rack services decreased in some nations. For instance, in the Middle East, the simultaneous effects of COVID-19 and significant drops in oil prices had a variety of economic consequences throughout the Gulf region. They significantly provoked the demand shock of a hydrocarbon industry, which reduced the demand for data center rack service in the region.
● However, surge in investments in data analytics, rise in adoption of AI and ML, advent of autonomous vehicles & drones, and rise in need for tracking real-time information are expected to boost the data center rack market trends in the post-pandemic.
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