Arafat Yousef, Managing Director – Middle East & Africa, Nexans Data Network Solutions, explores the potential for energy consumption in a fast-growing digital economy. The digital economy is growing fast. IDC has predicted that the digital economy will account for 60% of the world’s total economy by 2022. The United Nations Conference on Trade and Development estimates that the digital economy makes up anywhere from 4.5% to 15.5% of global gross domestic product (GDP). In the US, home of several dominant players, the digital economy already accounted for 6.9 percent GDP ($1.35 trillion) in 2017. In China, the digital economy accounted for a third of the nation’s GDP in 2018. In Europe, ‘digital’ is among the fastest growing sectors and “a major contributor to economic prosperity”, according to E&Y. However, as the digital economy grows, so does consumption of energy and production of heat and CO2. Hyperconnectivity and energy consumptionThe digital economy is based on hyperconnectivity. More and more people, devices and organisations are interconnecting, driven by developments such as 5G, Cloud, Wi-Fi 6, Internet of Things (IoT) and more. In all of these areas, vast growth is predicted. According to IDC some 212 billion IoT-enabled devices may be connected to the internet soon. Cisco ...read more...
Source"MEP Middle East"