The data centre market is expanding rapidly, with at least one big cloud hyperscaler planning to increase its global footprint by 7x in the next 3-5 years;Consolidation of existing platforms is expected to slow down slightly due to significant M&A activity in the last decade;New players are entering the market, and a second consolidation wave is expected in 5-7 years;Demand for AI is driving new market entrants and increasing data centre capacity worldwide – although 2024 will see a capacity draught;Water scarcity is a major concern, and data centre design is evolving to accommodate increasing power densities and the weight of AI equipment.