The changing dynamics Immersion Cooling Market with covid-19 impact assessment
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including Immersion Cooling Market.
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including Immersion Cooling Market.
It was estimated prior to this unanticipated outbreak Immersion Cooling Market will reach CAGR of 24% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Immersion Cooling Market Insights
Immersion cooling market is likely to witness an impressive CAGR of 24% during the forecast period. High-density power consumption, increasing number of hyper-scale data centers, and the need for an effective and energy-efficient immersion cooling solution are likely to drive the growth of the immersion cooling market during the forecast period.
Market Share Analysis
Immersion Cooling Market Share: By Cooling System Type
Based on the cooling system type, the market is segmented as single–phase immersion cooling system and two-phase immersion cooling system. Single–phase immersion cooling system held the larger share of the market in 2019, and is expected to grow at a higher CAGR during the forecast period. Coolant in this type of immersion cooling system remains always in liquid form as it never boils or freezes.
Immersion Cooling Market Share: By Application Type
Based on the application type, the immersion cooling market is segmented as high-performance computing, edge computing, cryptocurrency mining, and others. The high-performance computing segment governed the market in 2019, whereas cryptocurrency mining is estimated to be the fastest-growing segment during the forecast period.
Immersion Cooling Market Share: By Cooling Fluid Type
Based on the cooling fluid type, the market is segmented as mineral oil, synthetic oil, and fluorocarbon based, and others. Mineral oil held the largest share of the market in 2019, as it is less costly and is an energy-efficient cooling solution.
Immersion Cooling Market Share: By Region
In terms of regions, North America is the largest market, whereas Asia-pacific is the fastest-growing market for immersion cooling systems. The high demand is because of its increasing use in high-performance computing, cryptocurrency mining, edge computing, artificial intelligence, and cloud computing.