Dublin, Aug. 02, 2024 (GLOBE NEWSWIRE) — The "Data Center Rack Market – Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com’s offering. The data center rack market, a crucial component of information technology infrastructure, is witnessing an exponential growth trajectory. It is anticipated to expand from US$4.268 billion in 2022 to US$8.426 billion by 2029, flourishing at a Compound Annual Growth Rate (CAGR) of 10.2%. This robust growth can be attributed to the accelerating demand for data centers around the world, as enterprises confront the surge in cloud networking and big data applications. Growing big data volumes, along with increased digitization and IoT applications across diverse industries, are creating a massive demand for modernized data center facilities. This demand is not merely for expansion but also for efficiency, given the prevailing focus on environmental sustainability and reducing power consumption. Moreover, the availability of cost-effective rack solutions has stimulated market growth. Enhancements and innovations in data center rack offerings are expected to sustain market development over the coming half-decade. The market’s upswing is also fueled by the increasing data traffic from connected devices, burgeoning internet penetration, and significant investments in 5G technology. Furthermore, the urge for enhanced […]
Click here to view original web page at www.globenewswire.com
