Blockchain Press Releases
Data Center Cooling Market to Reach USD 12.64 Billion Year-Over-Year by 2028, A USD 65 Billion Opportunity Over the Next 6 Years- Arizton
CHICAGO, July 13, 2023 /PRNewswire/ — According to Arizton’s latest research report, the global data center cooling market will grow at a CAGR of 6.36%.
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Browse In-Depth TOC of the Data Center Cooling Market
142 – Tables
186 – Charts
478 – Pages
The global data center cooling market is going through a massive growth phase. The rise in demand for AI & ML applications among data center operators has accelerated the demand for cooling systems. A significant increase in self-built data center deployments by hyperscale operators worldwide has propelled the demand for efficient cooling infrastructure.
Around 15% to 25% of overall investments in data center construction are attributed to cooling systems. IT infrastructure and cooling systems are the major power consumers inside data centers. As more data center operators move toward carbon neutrality, innovation is being kept at the forefront while choosing cooling systems that ensure less power consumption, higher efficiency, and lower carbon emissions. Several data center operators have acquired innovative and energy-efficient cooling infrastructure solutions to reduce power consumption by up to 50%. The rise in water consumption and power usage are a few prominent challenges due to the higher rack capacities, which have fueled the demand for efficient cooling systems in the global data center cooling market.
Data Center Cooling Market Report Scope
Report Attributes |
Details |
Market Size (2028) |
USD 12.64 Billion |
Market Size (2022) |
USD 8.73 Billion |
CAGR by Revenue (2022-2028) |
6.36 % |
Base Year |
2022 |
Forecast Year |
2023-2028 |
Market Segmentation |
Infrastructure, Cooling Systems, Cooling Technique, Tier Standards, and Geography |
Geographic Analysis |
North America, Latin America, Western Europe, Nordics, Central & Eastern Europe, Middle East, Africa, APAC, and Southeast Asia |
Market Dynamics |
· District Heating Growth · Big Data & IoT Driving Data Center Investments · Growth In Data Centers Targeting PUE<1.4 |
Key Insights
- Data centers follow cooling standards that dictate the design, adoption, and operation of cooling systems and equipment to ensure optimal cooling. ASHRAE provides industry-standard guidelines and recommendations for installing these cooling systems.
- Operators seek cost-effective and sustainable solutions to improve their cooling systems while conserving space and reducing power consumption.
- Hybrid liquid cooling, plant-based immersion cooling, waterless cooling, and river water cooling are some of the efficient solutions in the data center cooling market that operators are considering reducing their CAPEX and OPEX.
- CRAC and CRAH units dominate the cooling systems market, accounting for around 35% of the overall data center cooling market share. CRAH units are becoming increasingly popular among operators as they operate without a compressor, resulting in higher efficiency and lower power consumption than CRAC units. This makes them an excellent choice for operators looking to incorporate sustainability into their facilities and is expected to drive the market for CRAH units during the forecast period.
- Moreover, operators are also focusing on sustainability in immersion cooling systems by using eco-friendly fluids. One is Cargill’s NatureCool, a carbon-neutral plant-based fluid that can be used for immersion cooling purposes in data centers and other industrial IT applications.
- In line with this sustainability trend, Nanyang Technological University (NTU Singapore), the National University of Singapore (NUS), and stakeholders in the Singapore data center market have established a test-bed data center facility. The facility aims to develop sustainable and innovative cooling systems for facilities in tropical regions, which will help to reduce the carbon footprint and energy consumption.
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Geographical Analysis
The North American market leads the growth in the overall data center industry, with early availability and adoption of innovative technologies and investments from colocation service providers, hyperscale data center operators, enterprises, and government agencies. The region is a key driver and acts as an incumbent for technological innovations in the data center space. The major contributors to market growth in North America include Facebook, Google, Equinix, Digital Realty, Compass Datacenters, Cologix, Vantage Data Centers, NTT Global Data Centers, QTS Realty Trust, CoreSite, CyrusOne, and Switch. North America also leads the global data center cooling market, dominated by the US, followed by Canada, with investments in billions by colocation providers, hyperscale data center operators, enterprises, and government agencies in data center facilities and adopting redundant power backup infrastructure. In 2022, the US accounted for around 25% of the data center investments worldwide regarding the number of facilities and emerged as one of the largest contributors to the global data center power market. Virginia, Texas, and California are the major markets for data center operations, followed by Illinois, Georgia, Nevada, and Oregon. Canada is an upcoming market owing to the accessibility to renewable energy sources and average power costs of around $0.05 per kWh. Ontario is a data center hub in Canada, followed by Montreal, with abundant availability of renewable energy.
Market Vendors
Key Data Center Cooling Infrastructure Vendors
- Airedale International Air Conditioning
- Rittal
- Schneider Electric
- STULZ
- Vertiv
Other Prominent Data Center Cooling Infrastructure Vendors
- 3M
- 4ENERGY
- Airsys
- Alfa Laval
- AAON
- Aqua Cooling Solutions
- Aquila Group
- Asetek
- Austin Hughes Electronics
- Canovate Electronics
- Carrier
- Chilldyne
- Citec International
- ClimateWorx
- Cooler Master
- Condair Group
- Coolit Systems
- Daikin Applied (Daikin Industries)
- Data Aire
- DCX (LIQUID COOLING COMPANY)
- Degree Controls
- Delta Group
- ebm-papst
- EMICON INNOVATION AND COMFORT
- Envicool
- FlaktGroup
- Fuji Electric
- Green Revolution Cooling (GRC),
- HiRef
- Huawei Technologies
- Iceotope
- ION
- Johnson Controls
- Kelvion Holding
- KyotoCooling
- Legrand
- Lennox International
- LiquidCool Solutions
- LiquidStack
- Menerga
- Midas Green Technologies
- Minkels
- Motivair Cooling Solutions
- Munters
- Nortek Air Solutions
- nVent
- OceanAire
- QCooling
- Renovo Zhuhai
- Shanghai Shenglin M&E Technology
- SPX Cooling Technologies
- Stellar Energy
- Submer
- Swegon Group
- SWEP International
- Systecon
- Trane (Ingersoll Rand)
- United Metal Products (UMP)
- Upsite Technologies
- USystems
- Vigilant
- Wakefield-Vette
Market Segmentation
Infrastructure
- Cooling Systems
- Other Mechanical Infrastructure
Cooling Systems
- CRAC & CRAH Units
- Chiller Units
- Cooling Towers, Condensers, and Dry Coolers
- Economizers & Evaporative Coolers
- Other Cooling Units
Cooling Technique
- Air-based Cooling Technique
- Liquid-based Cooling Technique
Tier Standards
- Tier I & II
- Tier III
- Tier IV
Geography
- North America
- The US
- Canada
- Latin America
- Brazil
- Mexico
- Chile
- Colombia
- Rest of the Latin American Countries
- Western Europe
- The UK
- Germany
- France
- Netherlands
- Ireland
- Switzerland
- Italy
- Spain
- Belgium
- Other Western European Countries
- Nordics
- Sweden
- Denmark
- Norway
- Finland & Iceland
- Central & Eastern Europe
- Russia
- Poland
- Other Central & Eastern European Countries
- Middle East
- The UAE
- Saudi Arabia
- Qatar
- Israel
- Other Middle Eastern Countries
- Africa
- South Africa
- Kenya
- Nigeria
- Egypt
- Other African Countries
- APAC
- China
- Hong Kong
- Australia
- New Zealand
- India
- Japan
- Taiwan
- South Korea
- The Rest of APAC
- Southeast Asia
- Singapore
- Indonesia
- Malaysia
- Thailand
- Philippines
- Vietnam
- Other Southeast Asian Countries
Key Questions Answered in the Report:
- How big is the data center cooling market?
- What is the growth rate of the global data center cooling market?
- Which region holds the most significant global data center cooling market share?
- What are the key trends in the data center cooling market?
- Who are the key vendors in the global data center cooling market?
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Blockchain Press Releases
Bybit Champions Web3 Innovation and Strengthens Ties with Asia’s Crypto Community at Taipei Blockchain Week
DUBAI, UAE, Dec. 24, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange, debuted at the Taipei Blockchain Week Dec. 12 to 14, 2024, spotlighting the vibrant Web3 innovations on its platform alongside a dynamic roster of its strategic Layer 1 ecosystem partners.
Featuring side events in collaboration with the Solana Foundation, the Sui Foundation, and a dazzling lineup of multichain projects, Bybit Web3 dedicated the Taipei tour to building up communities and deepening connections with Web3 ecosystem partners. The Bybit delegation also took the stage to uncover the latest insights on Web3, building with a purpose, and the future of blockchain utilities and DeFi.
Purpose, Innovation, and Partnerships
Representing Bybit at the conference were MK Chin, Core Contributor for Blockchain for Good Alliance and Head of Marketing of Bybit Web3, and Angela Huang, Bybit VIP Relationship Manager, at various panels.
Expanding on blockchain technology’s potential in building better realities for all, Chin joined as a panellist in the session Marketing Web3: Strategies to Engage and Onboard the Next Billion Users. Chin shared learnings and actionable insights from the Bybit-supported Blockchain for Good initiative (BGA), elaborating on both real-world utilities of blockchain technologies and the trickling down of benefits to grassroot communities.
Meanwhile, Angela Huang moderated three sessions closely tied to Bybit’s mission, steering conversations on crucial industry topics:
- The panel Bridging TradFi and DeFi: The Exchange’s Role in User Onboarding on Dec. 12 examined how exchanges could elevate access to the digital economy for users at scale.
- On Dec. 13, Networked Intelligence: The Rise of Decentralized AI explored the intersection of blockchain and AI, showcasing their potential to transform and democratize finance.
- The Building for Impact: How Female Founders Drive Purpose-Driven Innovation panel on Dec. 14 highlighted the evolving role of women leaders in driving solution-oriented innovation.
Another highlight at the event was amplified globally via Bybit Livestream. Collaborating with the Sui Foundation, Ondo, DeepBook, Scallop, NAVI, and other leading projects, Bybit Web3 led a critical debate on the future of Sui’s growth strategy: Sui Ecosystem Showdown: Mass Adoption vs. Native Growth. Hosted by Emily Bao, Head of Web3 and Spot at Bybit, the livestream attracted over 6,500 viewers live at the Taipei Blockchain Week and globally on Dec. 13.
Deepening Bonds: Key Web3 Ecosystems and Communities
Bybit Web3 brought the local community closer to its world-class ecosystem partners with engaging community events, co-hosting Taiwan DeFi Flow with Sui and Scallop on Dec. 12, and Solana Ecosystem Taipei Greetings with the Solana Foundation and Solar with the support of Orderly Network, Zetachain, Jupiter, and Sonic, on Dec. 14. Through collaborations and innovation, Bybit Web3 opens up new on-chain possibilities for partners and stakeholders to expand the Web3 universe.
These relaxed evening gatherings provided a convivial backdrop for like-minded builders and entrepreneurs to network, exchange ideas, and celebrate their shared enthusiasm for DeFi and dApps in Asia’s growing Web3 innovation hub.
“It’s been an incredible experience connecting with the builders, believers, users, creators, and supporters driving innovation on Solana and Sui. These moments remind us of the heart and spirit of Web3—a vibrant ecosystem shaped by collaboration and shared vision. I’m deeply proud to witness this growth, grateful for every connection made, and excited for the road ahead,” said MK Chin, Core Contributor for Blockchain for Good Alliance and Head of Marketing of Bybit Web3.
“Taipei Blockchain Week showcased the immense growth and potential of Web3 innovation in Asia. Representing Bybit, I had the honor to collaborate with industry leaders to explore Web3’s limitless possibilities, from DeFi and AI to real-world applications. Together, we are shaping a more inclusive global crypto community,” said Angela Huang, Bybit VIP Relationship Manager.
In the past year, Bybit has seen exponential growth in its user base, surging to over 60 million by the end of 2024. It has also invested in vertical growth through community engagements across the world. Connected by the passion for the future of crypto, blockchain, and Web3, the Bybit family is on track to building an inclusive and sustainable path to growth for the industry.
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 50 million users globally.
Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit Web3, please visit Bybit Web3.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
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Blockchain
UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System
The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.
Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.
“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”
ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.
“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”
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Blockchain Press Releases
Compass Mining Scales Texas Operations with 25 MW Bitcoin Mining Facility, Plans Further Expansion
Energizes Over 50 MW in 2024 Across Six States, with 35 MW Coming Online by January 2025
WILMINGTON, Del., Dec. 20, 2024 /PRNewswire/ — Compass Mining (“Compass” or the “Company”), a leading provider of Bitcoin mining hardware, hosting, and operational solutions, proudly announces the addition of a new 25 megawatts (MW) Bitcoin mining facility in Texas to its growing network of North American operations. The facility is already fully built out and will be operational with an initial 5 MW of capacity by year’s end, scaling to 25 MW in early January 2025. Compass also plans to expand the facility’s capacity to 60 MW by Q3 2025.
The new Texas facility will house a mix of relocated machines from Compass’s existing sites, as well as newly deployed units, ensuring continuity for current customers while offering new clients a seamless and turnkey Bitcoin mining experience. By January 2025, new customers purchasing machines through Compass’s platform will have the option to deploy them at the “Texas 6″ site.
“Our new Texas facility represents another milestone in our mission to make bitcoin mining more accessible for everyone,” said Paul Gosker, CEO of Compass Mining. “We bring a wealth of experience from successfully operating at multiple locations across Texas, navigating the unique grid dynamics and leveraging local resources. For this site, we will provide our support and expertise, including assisting our site partner in hiring expert technicians who meet Compass’s high standards. This ensures high uptime and reliability, delivering the quality our customers expect.”
Compass’s strategy combines vertical integration through proprietary facilities, such as the new Iowa 4 site, with partnerships at third-party facilities renowned for high uptime and reliability. This dual approach allows the company to maintain operational flexibility while delivering reliable hosting solutions. The company has energized a total of approximately 50 MW of power capacity across mining facilities in Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas in 2024, with plans to add another 35 MW by January 2025.
About Compass Mining
Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.
Media Contact
BlocksBridge Consulting
[email protected]
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