McKinsey October 24, 2024
The rise of AI is driving data center demand and shifting power market dynamics. With European demand predicted to more than triple by 2030, significant investments are needed to realize this growth.
Digitization, rapid advancements in AI technologies, and slower gains in power usage efficiency have significantly escalated the demand for data centers, with major implications for global power market dynamics. In Europe, demand for data centers is expected to grow to approximately 35 gigawatts (GW) by 2030, up from 10 GW today. To meet this new IT load demand, more than $250 to $300 billion of investment will be needed in data center infrastructure, excluding power generation capacity.
The exponential growth in data center demand comes with a corresponding...
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