Developing technology trends like artificial intelligence (AI), cloud computing, and digital transformation are driving the global demand for data processing and storage to unprecedented levels. As a result, energy-intensive data centers are fast becoming a major energy consumer, due in large part, to cooling systems that account for up to 40% of their total consumption, according to our latest research. Real Estate developer JLL projects the global data center market to be worth $317 billion by 2026, representing a 107% increase from 2020 levels when it was valued at $153 billion. The market is expected to grow still further, at CAGRs ranging from 10.3% to 16.38% through 2028, driving a significant rise in energy consumption. Hyperscale data centers and AI factories, such as those operated by tech giants including Amazon Web Services (AWS), Google, and Microsoft are growing at an even faster rate, with a projected CAGR of 27.9% through 2032 to serve the massive […]