As we consider the future of the electricity marketplace, we should be excited by the breadth of possibilities that lie before us. Ever-increasing global demand for power, a wealth of technological innovation, and the improved accessibility of renewable energy are driving the evolution in electrification with speed, scalability, carbon reduction, and risk mitigation at the core.

Here, we look ahead to the five key trends that will shape our supply chain and collaboration.

Sector-specific approaches for rapidly growing markets

Power-intensive markets will benefit from specific investment and power supply innovation in the coming years if they are to meet their exponential growth trajectories. The data center sector is a prime example as it navigates rapid digital acceleration, a vast proliferation of smart devices and an upward surge in data demand, alongside ever tightening carbon zero legislation.

For data centers to meet this increasing demand for data storage, solutions providers and their supply chains must deliver sustainable, resilient power solutions that promote performance, uptime, and carbon reduction across. This will include improving how data centers generate, store, and utilize renewable power, and benefit from a reliable, uninterrupted grid connection.

Deployment of artificial intelligence algorithms

As our ability to capture data increases, we can further harness the power of artificial intelligence (AI) for the good of customers, the economy, and the environment.

AI can complete the equivalent of many hundreds of hours of data analysis almost instantly, saving time and money on manpower with often far more accurate results. It is inevitable that our use of AI will increase over the course of the coming years, and the insights garnered will be extremely useful in improving how we use, produce and supply electricity in the future.

The widespread use of solution architectures and modularization

Solution architectures and modularization provide value as a pre-engineered, optimized, segment-specific solution. They also reduce site work, ensure smooth energizing and lower overall risks during the project execution.

The use of solution architectures and modularization is increasing, as industries find themselves with ever tighter time-to-market deadlines, more stringent regulations, and a need to keep costs low but performance high.

Solution architectures offer scalable and repeatable designs that can be standardized for expansion even across multiple sites. They promote modular, cost-effective deployment and an increased level of consultative expertise that can directly translate into substantial cost and time savings. As the power sector strives to meet increased demand, solution architectures will prove a key ingredient for success.

A dual offering of modularization and flexibility

The idea of solution architectures and modularization promote a key trend of standardization – something that is known to deliver cost and time savings. For many consumers, standardization simplifies electrical systems and promotes scalable, profitable growth, which is why we will see more of it in the years to come.

That said, to remain competitive, and to serve more complex and critical industries and applications, solution providers must maintain the ability to create flexible and bespoke systems that go above and beyond a standardized offering. The ability to provide both solution types will determine the success of many solution providers in 2023 and beyond, including which markets they can penetrate, and whether they become a renowned player in new and evolving sectors.

Consultative expertise to promote further digitalization

Now more than ever before, consultative expertise is proving a critical component of success. As we move towards widespread digitalization, there is understandably much trepidation around the scale of change required and the installation and operation of new, unfamiliar technologies.

Solutions providers that integrate consultative expertise into their customer journey will be able to promote further uptake of digitalization, which will in turn help customers to meet carbon reduction targets, improve asset uptime and optimize system performance.

For 2023 and beyond, working closely with supply chain partners that can maximize these key trends will promote optimized and sustainable system performance.