About Iceland
Iceland is a small country with around 360,000 inhabitants. It is a part of European Economic Area (EEA) and the European Single Market has some of the most advanced ICT usage worldwide. Depending on location and ambient temperature, cooling is responsible for 39% of the total electricity usage of an average Data Center. Iceland has pledged to be carbon neutral by 2040, and power producers and Landsnet are actively taking measures for all operations to be carbon neutral even earlier.
Iceland has become a major destination for bitcoin mining and HPC (High Performance Computing) users with Data Centres built to cater for high density applications, benefiting from free air cooling and low cost renewable power sources. International connectivity has been an issue with latency due to it's distance from other European countries making Iceland less attractive for low latency applications but highly attractive for high-density HPC applications.
Farice, founded in November 2002 and the main provider of international connectivity in and out of Iceland, is to introduce Akureyri as a new point of presence for its services in Iceland. The establishment of a POP in Akureyri will enable Farice’ customers connecting in Akureyri and routing their international internet traffic directly on FARICE-1 and DANICE cables bypassing Reykjavík and Reykjanes. Iceland's Data Centre sector comprises four Data Centre Providers down from the previously five following the acquisition of the Reykjavik DC by Borelis Data Center which already has two facilities in the Icelandic market. Borelis also acquired Herman IT's DC facility in 2024.
Datacentre pricing forecasts that Icelandic Data Centre raised floor space will increase by almost forty per cent over the period from the end of 2023 to the end of 2027.
Table of Contents
- Methodology - Iceland Data Centre Landscape
- Digital Statistics Summary
- The key third-party Data Centre Providers & Facilities in Iceland
- The key Data Centre Provider Profiles
- Icelandic Data Centre Space Forecast (2024 to 2027)
- Icelandic Data Centre Power Forecast (2024 to 2027)
- Icelandic Data Centre Power in kWH
- The key Data Centre Clusters in Iceland in 2024
- Icelandic Data Centre Pricing Forecast (2024 to 2027)
- An Icelandic Data Centre Revenue Forecast (2024 to 2027)
- The key trends and outlook for the Icelandic Data Centre Market
List of Figures
Figure 1 - A schematic showing the route of the proposed IRIS subsea cable system
Figure 2 - A simplified map of Iceland
Figure 3 - A table showing the key third-party Data Centre Providers & Facilities in Iceland
Figure 4 - A picture showing the atNorth Mjolnir Data Centre campus
Figure 5 - A picture showing the Borealis Data Center campus at Blönduós
Figure 6 - A picture showing the Verne Global Data Centre facility
Figure 7 - A chart showing forecast Icelandic Data Centre raised floor space from the beginning of 2024 to the end of 2027 - in m2 per annum
Figure 8 - A pie chart showing the key Data Centre Provider market share in Iceland by raised floor space - in per cent
Figure 9 - A chart showing forecast Icelandic Data Centre Customer Power in MW per annum - from the beginning of 2024 to the end of 2027
Figure 10 - A chart showing the utility cost in Euro per kWH for selected European Countries including Iceland
Figure 11 - A chart showing forecast average Icelandic Data Centre Pricing (standard rack space, m2 & kW rentals) from the beginning of 2024 to the end of 2027 - in Euro per month
Figure 12 - A chart showing forecast Icelandic Data Centre Revenues in millions of Euro per annum - from the beginning of 2024 to the end of 2027
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Farice
Methodology
The analyst researches its reports typically within a three-month period. All of its reports are based on primary and secondary research including interviews with relevant companies/operators covered in the report. The analyst also draws on its extensive in-house database and its contacts in the field of telecommunications it has established since the company was launched in 2006.
The analyst has 26-years of experience in the field of telecoms pricing both mobile and fixed. They have a network of consultants as well as a multi-lingual research team, with languages spoken French, German, Polish and Spanish.
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