Green IT Services are Poised to Grow on Account of Increasing Environmental Awareness
Author : Ishika cmi | Published On : 18 Mar 2024
Green IT services play a crucial role in optimizing data center energy usage and minimizing carbon footprint. These services help organizations design and implement strategies to efficiently manage power, cooling and space utilization in servers, networks, storage and desktop infrastructure. Growing concerns around climate change are encouraging companies across industries to adopt green technologies and implement energy-efficient practices. This has significantly boosted the demand for green IT services that enable organizations to monitor, measure and reduce negative environmental impacts.
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 from 2024 to 2031.
The key players operating in the green IT services market are Corning Inc., Nu-Core, Pyromeral Systems, Airbus, Schlumberger Ltd, Murray & Roberts Cementation Co. Ltd, Banah UK Ltd, Zeobond Pty Ltd, Uretek, BASF, Imerys Group, Milliken & Company Inc. and PCI Augsburg GmbH. These players are focusing on strategic partnerships and collaborations to expand their service portfolios and geographical presence.
Key Takeaways
Key players: Corning Inc. is a leading player focusing on green data center solutions to reduce power consumption and carbon footprint. Nu-Core provides consulting and auditing services for sustainability assessments. Pyromeral Systems offers thermal management solutions for energy-efficient IT equipment.
Key opportunities: Growing demand from small and medium enterprises for cost-effective Green IT Services Market Size adoption presents significant growth opportunities. Cloud computing services provide opportunities for businesses to transition to energy-efficient systems.
Global expansion: Leading players are investing in partnerships and acquisitions to expand services across international markets. Corning recently partnered with Equinix to deploy energy-efficient infrastructure in key global markets. Nu-Core acquired a UK-based firm to enhance auditing services across Europe.
Market drivers: Stringent regulations mandating eco-friendly practices are driving the need for green IT compliance assessments and audits. Rising energy costs encourage organizations to adopt optimization and monitoring services. Growing remote working trend accelerated the shift to cloud-based solutions promoting sustainable IT practices.
Market restraints: High initial costs of upgrading and replacing legacy systems with green infrastructure deters investments from small businesses. Lack of internal expertise poses challenges for effective implementation of specialized green IT services without external support.
Segment Analysis
Green IT services market can be segmented into carbon footprint management, green data center, asset management and compliance management. Carbon footprint management dominates the market as organizations are keen on measuring and reducing carbon footprints to meet regulatory emissions targets. Carbon footprint management helps in identifying areas contributing most to carbon emissions and takes corrective actions to improve energy efficiency.
Global Analysis
North America region dominates the green IT services market owing to stringent regulations regarding carbon emissions and energy efficiency. The presence of major tech companies in the US adopting sustainable IT practices to reduce environmental impact drives the market growth. Asia Pacific region is the fastest growing market due to growing concerns over carbon emissions and energy conservation. Countries like China and India are advancing sustainability initiatives through green computing frameworks and data center energy management. Governments across emerging economies are implementing green IT policies to limit environmental impact of the IT sector.
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