The immersion cooling market is forecasted to grow from US$ 0.3 Bn in 2022 to US$ 2.1 Bn in 2032 and exhibiting a remarkable 21.5% CAGR during the forecast period.
Immersion cooling is likely to be driven by increasing server rack density and chip density, new use cases such as hazardous edge computing settings, and demand to reduce energy consumption during data center cooling.
Over the projection period, the demand for immersion cooling is likely to be driven by data centers’ increasing desire for cost- and energy-efficient cooling solutions. Because of the proliferation of the Internet of Things (IoT) and Artificial Intelligence (AI), businesses are dealing with massive amounts of data that require higher density IT gear to perform at an enterprise level.
Existing data centers are unable to adapt to new types of workloads, which has fueled demand for immersion cooling data centers, which consume less power and take up less space. Data centers in the United States are increasingly migrating to public and private cloud platforms, which is expected to positively impact the immersion cooling market adoption trends.
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Moving to the cloud has various advantages, including increased scalability and elasticity, lower total operational expenses, and lower capital expenditure. Furthermore, the increasing volume of data transmission and the rise of big data has heightened the significance of safe data centers and immersion cooling.
As a result of such activities, the usage of IoT devices is predicted to increase, which is projected to increase the demand for immersion cooling systems. Data centers have traditionally relied on air cooling technologies.
Energy consumption rises when data center facilities install more technology to meet expanding needs, resulting in higher operational expenses. Rising energy consumption improves power usage effectiveness, which is a key component in determining data center energy efficiency.
As computers are meant to perform demanding computations become more powerful, air-based cooling solutions struggle to keep up with the heat created by these chips. Immersion cooling systems are a viable alternative since they require less hardware, lowering operating costs and lowering energy use.
As per the global immersion cooling market study by Future Market Insights, the lack of rules and regulatory requirements for immersion cooling is a significant barrier to its widespread adoption.
Standardization is recommended in non-homogeneous computational environments because standardized products are interchangeable. Because proprietary systems that are incompatible constitute a market barrier, specifications and standards must be developed to enable the global deployment of immersion cooling for data center equipment.
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Key Takeaways
- In the immersion cooling market, the cryptocurrency mining application is predicted to develop at the fastest rate. This industry is very competitive because of the tremendous potential for growth in nations such as the United States, Japan, India, and Germany.
- The US immersion cooling market size is expected to reach US$ 1.8 Bn by 2032.
- During the forecast period, the single-phase immersion cooling type segment is predicted to lead the market and grow at the fastest CAGR. Because it is less expensive to set up and more energy-efficient, demand for single-phase immersion cooling is expected to continue to grow.
- Because of the high concentration of hyper-scale data centers in these nations, the United States and Canada are key revenue contributors to the North American immersion cooling market. The United States is home to 40 per cent of the world’s total hyperscale facilities.
Competitive Landscape
Owing to the firms in the industry are constantly developing new cooling solutions with the ability to cool very dense storage components, the market is fairly concentrated. They’re also spending money on research and development to come up with new solutions that are projected to help the sales of immersion cooling grow even more.
In terms of the data center industry, there is a slew of merger and acquisition activities going on around the world, which is predicted to improve various players’ ability to invest in modern cooling infrastructure. Fujitsu Limited, Green Revolution Cooling, Submer Technologies, and others are key players.
Recent Developments
Wiwynn Corporation and Microsoft teamed up in April 2021 to create a two-phase immersion cooling system for data centres. The partnership’s technology advancements will be evaluated at a Microsoft-owned data centre in Quincy, Washington.
Iceotope Technologies Ltd. announced the release of a highly scalable, GPU-rich, and liquid-cooled solution for the deployment of HPC and AI workloads in colocation using Lenovo ThinkSystem SR670 servers in January 2021. The Ku:l Data Centre solution is able to withstand the increased heat loads brought on by processor roadmaps.
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Key segments
By Type:
- Single-Phase Immersion Cooling
- Two-Phase Immersion Cooling
By Application:
- High-Performance Computing
- Artificial Intelligence
- Edge Computing
- Cryptocurrency Mining
- Others
By Cooling Fluid:
- Mineral Oil
- Synthetic
- Fluorocarbon-Based
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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