by The Global Green IT Services Market is estimated to be valued at US$ 16.14 Mn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2030.
Green IT services help organizations implement strategies to reduce environmental impact and carbon footprint of IT through sustainable operations and infrastructure. This includes recycling and disposal of e-waste, optimizing data center energy usage, adopting cloud technologies, and virtualization. Growing awareness about environmental protection among enterprises is driving the need for green IT services. As businesses commit to science-based emission reduction targets, green IT can play a pivotal role in achieving sustainability goals across industries.
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.
There is an increasing demand for managed services and consulting which help organizations launch green initiatives and efficiently manage IT assets. Cloud migration services are also gaining traction as they enable reduced power consumption and carbon footprint.
North America dominates the global market currently. However, Asia Pacific is expected to emerge as the fastest growing regional market with countries like China, Japan and India formulating policies to promote eco-friendly technologies. Growing outsourcing from developed nations to Asian countries will further aid the expansion of green IT services in the region.
Market drivers
Stringent regulations regarding e-waste management and GHG emissions from data centers are encouraging IT departments to work towards environmentally responsible services and operations. Financial incentives in the form of tax benefits and subsidies on green investments are also boosting the adoption of energy efficient solutions promoted through green IT services. With sustainability gaining significance in both public and private sectors, the addressable market for green IT is likely to witness steady growth over the next decade.
PEST Analysis
Political: Government initiatives to promote Green IT Service Market Growth , subsidies and tax benefits to environment friendly IT practices are driving growth. Regulations on e-waste management and energy efficiency also impact the sector.
Economic: Increased cost of non-renewable energy sources and growing power bills are prompting organizations to adopt green IT solutions for power savings. Rise in disposable incomes makes individuals aware of environment protection.
Social: Growing environmental consciousness and sustainability efforts of firms are key factors. Social media campaigning by NGOs influences public perception and creates demand.
Technological: Advances in power efficient chips, LED lighting, virtualization, and cloud computing enable substantial energy savings. Adoption of renewable energy sources in data centers reduces carbon footprint significantly.
North America region accounts for the largest market share in terms of value owing to strong government support and presence of major players. With large consumer base and increasing digitalization, Asia Pacific is poised to witness fastest growth during the forecast period. Growing digital economy and environmental regulations will drive considerable opportunities.
Europe holds significant potential attributed to environmental initiatives like EU regulations. The market is well established in developed countries and emerging trends like electric vehicles adoption indicate positive prospects over the coming years. Rising living standards and internet penetration will expand Latin America and Middle East & Africa markets at a steady pace.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
