Immersion Cooling Market Size, Share & Trends Analysis Report By Product (Single-phase, Two-phase), By Application (Edge Computing), By Cooling Liquid, By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the immersion cooling market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for immersion cooling market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of immersion cooling market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Immersion Cooling Market Categorization:

The immersion cooling market was categorized into four segments, namely product (Single-Phase, Two-Phase), application (High-performance Computing, Edge Computing, Cryptocurrency Mining, Artificial Intelligence), cooling liquid (Mineral Oil, Fluorocarbon-based Fluids, Deionized Water), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The immersion cooling market was segmented into product, application, cooling liquid, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The immersion cooling market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into sixteen countries, namely, the U.S.; Canada; Germany; Italy; France; UK; Netherlands; Russia; India; China; Japan; Australia; Brazil; Argentina; Saudi Arabia; South Africa

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Immersion cooling market companies & financials:

The immersion cooling market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Green Revolution Cooling Inc.: It is a privately held company that offers efficient, powerful, and cost-effective solutions for data center cooling. The company was founded in 2009 and is headquartered in Texas, U.S. It offers products through two product lines, namely ICE and HASH. The company has installations in over 13 countries across the globe. As of June 2020, it had around 13 patents. The company’s cooling solutions support servers manufactured by major OEMs such as Cisco Systems, Inc.; Dell; Intel Corporation; and IBM.

• Submer: The company has business footprints in Europe, North America, the Middle East & Africa, and Oceania. It is engaged in providing solutions related to high-performance computing, edge computing, artificial intelligence & machine learning, cloud computing, rendering & gaming, and blockchain. The company provides cooling and automation solutions for data & energy-intense environments to data centers, hyperscalers, colocation, and other industries. It also offers cooling products through Micropod, Smartpod, Megapod, and Smart coolant liquid product lines. Furthermore, the company provides turnkey immersion cooling solutions, including resilient pump sets, secondary cooling, and primary cooling, along with certified hardware through Megapod product line. Submer also provides SmartCoolant, a synthetic fluid used in immersion cooling and compatible with fiber optics and IT hardware.

• Fujitsu: The company operates in three business segments, namely technology solutions, ubiquitous solutions, and device solutions. As of March 2019, it had approximately 129,609 employees working in 180 countries across the globe. The company’s liquid immersion cooling system has applications in enterprise data centers, cloud-based hyper-scale centers, and high-performance computing centers. The system is also suitable for edge computing infrastructures, which specifically support deep learning applications and the Internet of Things (IoT).

• Liquid Stack: The company has business footprints in North America, South America, the MEA, and Asia Pacific. It has an innovation center in Hong Kong with fast prototyping & light production capabilities. The company is engaged in providing all forms of liquid cooling solutions to high-performance, edge, and hyperscale computing. It also provides data center design and IT integration services, along with solutions for data-intensive technology applications, including high-definition video processing, AI, and machine learning, wherein the servers and chips used are responsible for producing high amounts of heat, which is not cooled through air cooling efficiently.

• Midas Green Technologies: The company was incorporated in 2011 and is headquartered in Texas, U.S. The company collaborates with data center solution providers and industry-leading vendors, such as Edge Data Solutions, GPUnity, Modius, Immersion Edge, Dell, Lenovo, and SLiC, to provide immersion cooling solutions for high-performance data centers. It offers eco-friendly and durable single-phased immersion cooling products. The company has various patents in the U.S. and internationally including XCI4S-A-12, XCI4S-W-12, XCIT4-50SM, XCM4, XCM4-C, XCIT5-50RM, SC2TV4, and SC3TV4.

• Asperitas: The company offers immersion cooling solutions and integrated products. It provides immersion cooling solutions for data centers, cloud service providers, enterprise IT, emerging tech developers, telecom providers, and HPC users. The company has partnered with ITRENEW, Stephya Data Center Global Services, Penguin Computing, Shell, Boston, Gigabyte, Dell Technologies, and Exellyn. In March 2017, Asperitas launched an Immersed Computing solution named AIC24, which is beneficial for data center operators and cloud providers to improve their business by reducing energy footprint, floorspace, requirements for cooling installations, and software licensing costs.

• DCX The Liquid Cooling Company: The companyis headquartered in Mazowieckie, Poland. It provides its cooling products through four product lines, namely direct chip, immersion, crypto mining, and edge data center, across the globe. The company provides liquid cooling solutions for complex infrastructures, data centers, high-performance computing, big data and edge server rooms, and cryptocurrency/blockchain infrastructure. It supports open standards such as the European Union, Polish Investment and Trade Agency, and European Growth.

• LiquidCool Solutions: In 2013, Hardcore Computer Inc. was rebranded to LiquidCool Solutions. The company specializes in developing immersion cooling solutions for high-performance computing systems using its liquid immersion cooling technology. It provides a wide range of commercial products including rugged desktop computers for tough environments, high-performance racks, fog computing systems, and prefabricated modular data centers. LiquidCool Solutions provides the latest data centers and edge server cooling technologies to their consumers.

• DUG Technology: The company has four major international offices in the U.S., the UK, Malaysia, and Australia. It is engaged in providing data services and geoscience services. Services provided by the company through the geoscience segment include seismic processing, full waveform inversion (FWI), depth & least-squares imaging, petrophysics, quantitative Interpretation, and regional velocity models. The company provides hardware and software solutions to clients directly or via the DUG McCloud platform. In 2019, it launched the DUG McCloud platform, which has enabled the company to provide scientific data analysis services, software solutions, and HPCaaS to a range of scientific sectors outside the resources industry.

• ExaScaler Inc.: The company is engaged in the development and manufacturing of submersion liquid cooling machines as well as supercomputing and computing systems designed by the original submersion liquid cooling method. It also offers accelerator board, system board, and other associated products specialized for the submersion liquid. The company develops HPC systems, supercomputing, and cooling systems for data centers.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Immersion Cooling Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 - 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Immersion Cooling Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.