How big is the liquid cooling systems market?

The liquid cooling systems market size crossed over USD 6 Billion in 2023 and is anticipated to register more than 6.2% CAGR between 2024 and 2032, driven by the rise of cloud computing, big data, and the Internet of Things (IoT).

What is the value of liquid cooling systems market in 2023?

Liquid Cooling Systems Market was valued at USD 6 Billion in 2023 and is likely to attain 6.2% CAGR from 2024 to 2032. The rise of cloud computing, big data, and the Internet of Things (IoT) has led to an increased demand for efficient and effective cooling solutions in data centers.

Why is the liquid cooling system market a constrained market?

The liquid cooling systems market is constrained by the liquid cooling systems can involve higher upfront costs compared to traditional air-cooling systems. This may act as a deterrent for some budget-conscious consumers and businesses which acts as restraints on market growth.

What is liquid cooling system?

Liquid cooling systems play a crucial role in maintaining optimal temperatures for edge computing devices. Based on product type, the liquid heat exchanger systems segment held about 62% of the market share in 2023.

Which region dominated the liquid cooling systems market in 2023?

North America region dominated nearly 30% share of the liquid cooling systems market in 2023. This leading position is attributed to the increasing interest in liquid cooling systems as expansion of electrification and urbanization have expanded in the region.

Why do data centers need a liquid cooling system?

The rise of cloud computing, big data, and the Internet of Things (IoT) has led to an increased demand for efficient and effective cooling solutions in data centers. Liquid cooling systems are seen as a more efficient alternative to traditional air-cooling methods, as they can dissipate heat more effectively which can drive market growth.