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Vertiv scores second straight quarter as market leader. #pressrelease
December 8, 2023
REDWOOD CITY, Calif. – According to a recently published report from Dell'Oro Group, the trusted source for market information about the telecommunications, security, networks, and data center industries, 3Q 2023 marks the fifth sequential quarter of double-digit year-over-year (Y/Y) growth for the Data Center Physical Infrastructure (DCPI) market, that has historically grown at mid-single digit rates for the past decade. Growth from pandemic induced orders is waning, but early AI deployments are materializing as a new driver of revenue growth. Some vendors have secured orders for equipment optimized for large scale AI workloads, which are more than offsetting the decline in pandemic-related orders, and backlogs are rising.
Additional highlights from the 3Q 2023 Data Center Physical Infrastructure Quarterly Report:
Vertiv continued to outpace market growth and gained over 2 percentage points of market share in 3Q 2023.
North America, Asia Pacific (excluding China), Europe, and the Middle East and Africa (EMEA) were the fastest-growing regions in 3Q 2023, maintaining double-digit growth rates. Caribbean and Latin American (CALA) revenues grew at a high single-digit rate, while the China market was the only region to decline.
Product growth was broad-based, but Thermal Management and Power Distribution grew at the fastest rates.
Looking ahead, we forecast worldwide DCPI market growth to moderate in 2024 as pandemic induced orders are filled. However, we predict the market growth rates will remain at higher than historic levels, as AI deployments increasingly materialize throughout the year.
Read the full press release here.
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