A new MarketsandMarkets study has forecast that the global data center rack computer market will reach a net worth of $2.7 billion by 2019.

According to CNBC, the study looked at a number of aspects of today’s market for server racks and cabinets, including service, end user, verticals and regions and analyzed the market’s drivers, restraints, opportunities and challenges that it would have between today and 2019.

Currently, North America holds the largest share by far of the market for server racks and rack enclosures, with Europe following. However, the study found that the Asia-Pacific market will grow at the fastest rate from now through 2019 due to rapidly-developing economies in China and India that will require new data centers and infrastructure to be constructed.

CNBC reports that some of the biggest players in the market for server racks and cabinets will be Hewlett Packard, Dell, IBM, Ireland’s Eaton, Emerson Network, France’s Schneider Electric and Germany’s Rittal. These companies are expected to invest in the most data center-related technologies, from the servers themselves to different accessories and cabinets for these servers.

In addition, data centers will be looking for increasingly efficient server cabinets and related products like fans and temperature monitors. With server rack cooling making up about a third of the average data center’s energy consumption, more and more data centers will be striving to cut these energy costs and optimize power usage by investing in more efficient technology.

In 2014, the global data center market was worth approximately $1.66 billion. Its estimated rate of growth per year is about 10.9%, according to the MarketsandMarkets study.

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