April 20, 2024
Green IT Services Market

Green IT Services Are Transforming Industries in Trends by Sustainability

The green IT services market provides services that help organizations minimize negative environmental impacts and maximize operational efficiency through sustainable practices. This includes waste management, energy-efficient infrastructure solutions, renewable energy integration, compliance reporting, carbon footprint measurement, and workforce training on green technologies. Green IT services enable industries to leverage digital solutions to optimize resource consumption and enable remote working models.

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.

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, Pyromeral Systems, and Airbus.

The growing focus towards sustainability and minimizing environmental footprint is driving increased demand for Green IT Services Market Size across industries. Organizations are increasingly outsourcing green IT services to optimize operations and meet compliance requirements. Green cloud services, green data center services, and sustainable business continuity planning are some of the major growth areas.

Geographically as well, the market is witnessing strong growth in regions like North America, Europe, Asia Pacific due to stringent regulations and initiatives towards environment protection. Many countries have framed policies to cut carbon emissions using digital technologies and green services are helping organizations align with these goals.

Market key trends

One of the major trends in the Green IT Services Market is the rise of sustainability consultancy and auditing services. More companies are seeking sustainability roadmaps and strategies to reduce their carbon footprint through operational changes, reporting, compliance and certification. Green IT consultancy helps organizations assess their IT infrastructure and operations, identify areas of improvements, ROI analysis of green investments and recommend optimized solutions.

Another trend is the increasing demand for managed green infrastructure services. As organizations focus on their core business functions, they are outsourcing non-core operations like data centers, networking equipment and hardware to specialized managed service providers. This allows enterprises to leverage green infrastructure and services on a pay-per-use model without upfront capital investments. The managed service model is gaining traction as it delivers speed, scalability and optimized total cost of ownership with guaranteed sustainability and energy efficiency metrics.

Porter’s Analysis
Threat of new entrants: Low startup costs allow new players to enter the market easily.

Bargaining power of buyers: Large buyers can negotiate better prices and demand additional services from vendors.

Bargaining power of suppliers: Few global players dominate the market, giving them significant bargaining power over pricing and policies.

Threat of new substitutes: Emerging technologies around AI and IoT pose a potential threat of substitution.

Competitive rivalry: Intense competition exists among key global players to gain more customers and market share.

Geographical Regions

North America currently holds the largest share of the global green IT services market value owing to stringent environmental regulations and presence of major service providers in the US and Canada.

The Asia Pacific region is expected to witness the fastest growth during the forecast period due to increasing carbon emission concerns, rising energy costs, and growing adoption of cloud and analytics services among organizations across industries in countries like China, India, and Japan.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it