Green IT Services Market Growth Owing to Increased Adoption of Renewable Energy Sources

 

Green IT Services Market
 Green IT Services Market

Green IT services involve offering services to reduce the negative environmental impact of IT through practices like sustainable sourcing, computer recycling, and energy-efficient equipment and data centers. The growing emphasis on efficient power management and increased adoption of renewable energy sources are driving the demand for green IT services across industries. Green IT helps organizations lower costs by reducing energy consumption through efficient data center operations and resource allocation. Key services include energy-efficient buildings, power management systems, carbon offsetting, renewable energy procurement, and recycling/resale of hardware.

The Global Green IT Services Market is estimated to be valued at US$ 16.14 Bn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2031.

Adoption of technologies like cloud computing and virtualization has positively impacted the Green IT Services Market Growth by optimizing resource utilization and centralized management of IT infrastructure.

Key Takeaways
Key players operating in the Green IT Services are Imerys Group, Milliken & Company Inc., PCI Augsburg GmbH, Rocla, Wagners, Universal Enterprise, Schlumberger Ltd, Murray & Roberts Cementation Co. Ltd, Banah UK Ltd, Zeobond Pty Ltd, Uretek, BASF, Corning Inc., Nu-Core, and Pyromeral Systems.

Key opportunities in the market include growing focus on renewable energy procurement, carbon offset projects, energy-efficient buildings certification programs, and waste management partnerships. Companies are offering customized green IT solutions and services to help organizations achieve sustainability goals and reduce carbon footprint.

Major green IT services providers are focusing on global expansion through acquisitions and partnerships. Imerys Group acquired two companies in Europe to expand its product portfolio. Corning Inc. has partnerships with renewable energy developers worldwide to source green power for its data centers and facilities. Nu-Core partnered with e-waste recyclers in Asia and Africa to expand electronics disposal and recycling operations globally.

Market Drivers

Increased regulatory push for sustainable business practices and environmental responsibility is a key driver for green IT services adoption. Various countries and regions have implemented stringent policies mandating energy-efficient infrastructure and renewable energy targets for organizations. This is positively impacting the demand for green IT audits, advisory and compliance services.

Market Restraints

High initial costs associated with transitioning to energy-efficient systems and investing in green technologies can limit organizations’ spending on green IT modernization projects. Data security and privacy continue to be major concerns for clients shifting to cloud-based managed infrastructure services as well. Lack of standards also poses challenges for measuring and verifying the actual environmental impact of digital services and solutions.

Segment Analysis

Energy and utilities segment holds the largest market share in the green IT services market, accounting for approximately 30% of the overall market in 2024. The segment is dominating due to increasing focus on energy optimization solutions and initiatives to reduce carbon footprint among utilities companies.

Government and public sector is expected to witness the highest growth during the forecast period. This is because of the rising government regulations and initiatives to promote sustainability. Many countries are focusing on digitization of the public infrastructure and facilities to optimize resource utilization through green IT services.

Global Analysis

North America region dominated the global green IT services market in 2024 and is expected to continue its dominance during the forecast period. The rapid growth of the region can be attributed to increasing awareness regarding environment protection and presence of prominent market players in countries like US and Canada.

Asia Pacific region is poised to witness the fastest growth during the forecast period owing to economic development, growing adoption of cloud services and rising energy costs in major countries including China, India and Japan. Countries in the region are aggressively implementing various policies to promote green technologies and solutions.

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About Author:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )

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