Economic weight

Data storage, primarily housed in data centers, is a critical component of the modern digital economy. It involves the recording and keeping of digital information using various technologies.

Economic Impact (GDP Percentage)The data storage and broader data center market contributes significantly to the global economy, though its contribution isn’t typically captured as a single percentage of global GDP.

* Market Size and Growth: The global data storage market was valued at approximately $218.33 billion in 2024 and is projected to grow substantially, reaching an estimated $774.00 billion by 2032. This rapid growth reflects its increasing importance to all sectors of the economy.

* Indirect Contribution: The true economic impact is much larger than the market size alone, as data storage is an enabling technology. Virtually every other industry—from finance and healthcare to retail and manufacturing—relies on it. For example, some economists have suggested that a significant portion of GDP growth can be attributed to the infrastructure provided by data centers.

Relationship with Electrical Usage

In the clouds

power

demand

There’s a strong and rapidly growing relationship between data storage/data centers and electrical consumption.

* High Power Demand:

North end Merritt

Data centers are massive consumers of electricity, primarily due to two factors:

* IT Equipment Operation: The servers, storage drives, and networking equipment must run 24/7. *

Cooling Systems: A significant portion of the electricity—often around 40% or more—is used to power the cooling, ventilation, and air conditioning (HVAC) systems required to dissipate the vast amount of heat generated by the running equipment.

* Global Consumption: Globally, data centers currently account for an estimated 1.5% to 2% of total worldwide electricity consumption. *

Rapid Growth: This usage is expected to increase dramatically, driven by the explosive demand for Artificial Intelligence (AI), cloud computing, and big data analytics. Projections suggest that global electricity consumption from data centers could double or even triple by 2030 in some scenarios.

Advantage of Iceland for Data Storage

Iceland is an exceptionally advantageous location for hosting data centers, primarily because of its unique geological and climatic features, which address the major challenges of cost and sustainability.| Advantage | Benefit for Data Storage ||—|—|| Cool Climate | The country’s year-round mild and cool temperatures allow data centers to use “free air cooling” or “natural cooling.” This dramatically reduces or eliminates the need for mechanical cooling, saving huge amounts of electricity and lowering operating costs. |

| 100% Renewable Energy | Iceland’s electricity is sourced entirely from geothermal and hydroelectric power. This provides a stable, abundant, and carbon-free energy supply, which is critical for companies focused on sustainability and minimizing their carbon footprint.

Low Energy Costs

|| Low Energy Costs | Due to the abundant renewable resources, Iceland offers competitive and stable low energy prices, which is a significant operating expense for any data center.

|| Strategic Location | Its location in the North Atlantic, with submarine fiber optic cables connecting it to both North America and Europe, positions it as a potential hub for transatlantic data transfer.

|| Political Stability | Iceland offers a secure and stable political and business environment with a clear regulatory framework, reducing operational risks for large investments.

In summary, Iceland offers a “cool, green, and scalable” environment, allowing data centers to achieve excellent Power Usage Effectiveness (PUE) and meet corporate sustainability goals.

Bell Merritt

Good luck, in Merritt, Bell Canada is in process of constructing for a closer to home operation in the North end of Merritt BC Canada.

“Big things” for a small town with stable workforce and amenities including climate and proximity as well as reliable transportation in a stable Country.