Summary of Key Points from the Data Center Infrastructure Market Call Industry Overview - The focus is on the **Data Center Infrastructure market**, with insights from the **Dell'Oro Group** [1][2][7]. Core Insights - **Demand Outlook**: There is a robust demand for data center infrastructure expected to continue over the next several years, which will drive sustainable revenue and earnings growth for electrical infrastructure and equipment providers [1][4]. - **CAGR Forecast**: Dell'Oro's mid-teens CAGR forecast for the **2025-2029** period may be raised, indicating potential upside for companies exposed to data centers [2][7]. - **Investment Risk**: Dell'Oro sees "close to negligible" risk for investments in the data center infrastructure over the next 3-4 years, suggesting a stable investment environment [2][7]. Competitive Landscape - **Established Players**: Companies like **VRT**, **ETN**, and **NVT** are expected to maintain a strong competitive position due to their in-house expertise and robust service capabilities, despite increased competition [3][9][10]. - **M&A Activity**: There is potential for small to mid-sized mergers and acquisitions to further strengthen the market positions of established players [3][10]. Technology Trends - **Cooling Technologies**: Despite concerns regarding liquid cooling technologies impacting traditional air cooling, Dell'Oro anticipates continued growth in traditional cooling methods, benefiting HVAC companies [3][11]. - **UPS Market Shift**: A transition to **800VDC architecture** is expected by **2028-2029**, which will integrate medium-voltage power transformation solutions, requiring advanced technology development from key players like **ABB**, **ETN**, and **VRT** [9][12]. Market Constraints - **Power and Labor**: Power availability and skilled labor shortages are significant constraints in the data center infrastructure market, which may benefit companies like **PWR** and **VRT** due to their market positions [4][13][14]. - **Geographic Trends**: The European data center market is expected to accelerate starting in **Q2 2026**, with robust activity in sovereign markets, particularly in the Middle East [4][16]. Future Deployment Expectations - **Enterprise Deployments**: Smaller-scale enterprise deployments are anticipated to begin in late **2026/early 2027**, driven by better pricing and proof-of-concept work [16]. Companies Mentioned - Key companies discussed include **ABB**, **Alphabet Inc**, **American Electric Power**, **Carrier Global Corporation**, **Digital Realty**, **Eaton Corp**, **Equinix**, **Johnson Controls**, **NVIDIA**, **Quanta Services**, **Schneider Electric**, **Trane Technologies**, and **Vertiv Holdings** [17]. This summary encapsulates the critical insights and trends discussed in the call regarding the data center infrastructure market, highlighting both opportunities and challenges for industry players.