The airflow management market is projected to grow from USD 475.2 Million in 2017 to reach USD 807.3 Million by 2023, at a CAGR of 9.24% between 2017 and 2023.
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Factors such as increasing number of data centers worldwide and improving cooling efficiency and thermal management in data centers are driving the growth of the airflow management market.
The airflow management market has been segmented on the basis of offerings, which is further classified into component and service. The service market is expected to grow at a high rate.
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Services support customers and partners in the effective implementation and application of products by capitalizing on emerging opportunities and developing strategies to deliver value to clients.
By component, the market for containment is expected to experience high growth between 2017 and 2023. Containment solutions can prevent the mixing of hot air and cold air as well as eliminate hot spots and enhance energy savings in data centers.
In 2016, the IT and telecom industry accounted for the largest share of the airflow management market. However, the BFSI industry is expected to grow at the highest CAGR during the forecast period.
The growing demand for cloud services and data storage in the banking sector has contributed to the increased adoption of airflow management solutions in the BFSI industry.
Increasing investments in advanced technologies, growing data center infrastructure, and increasing focus on commercial and IT and telecom industries are driving the growth of the airflow management market in APAC.
The key factor restraining the growth of the airflow management market is requirement of specialized infrastructure. Key players in the ecosystem of the airflow management market profiled in this report are Upsite Technologies (US), Kingspan Group (Ireland), Schneider Electric (France), Eaton Corporation (Ireland), Subzero Engineering (US), Polargy, Inc.
(US), Geist (US), etc.
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