Rack Market To Reach $ 3 B Globally
The IT and telecom market is poised for rapid growth in the future that will aid expansion of the 19-inch rack and rack options market
Growth of the rack market, hindered by slow growth of the telecom industry, will expand rapidly during this period as rack manufacturers will venture into industries such as retail, medical, aerospace and defense markets.
There will be a growth in IT infrastructure in these industries that will aid racks. As and when the telecom market will grow, the developing rack market will witness further growth.
The growth will be due to implementation of network and infrastructure plans by organizations and governments across the world, expansion of the enterprise and data center market, sever market, and also the wireless sector of the telecom market.
“Implementation of network and infrastructure plans boosts demand for racks,” noted Muthiah Arunachalam, Research Analyst, Frost & Sullivan.
“Recovery of world economy has caused organizations, corporations, educational and medical institutions to upgrade their network and IT infrastructure with new improved hardware as well as software applications,” added Arunachalam.
According to the research firm, the industry had witnessed a drop in growth rates in 2001 and 2002 due to a downturn in the global economy, decline in the industry growth rates, further decrease in consumer spending and also business investments.
“The slow turnaround of the telecom industry across the world has impeded the growth of the global 19-inch rack and rack options market, in the short-term,” said Arunachalam.
The survey said that the manufacturers need to target new industries for expanding their market share in the 19-inch rack and rack options market.
Other findings of the survey are that the market for the retail industry, medical industry, aerospace and defense/ military markets and IT infrastructure will increase. Rack manufacturers can aim for these markets as and when the telecom industry recovers completely.
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