The main aim behind green IT services consists of reducing the use of hazardous materials, maximizing energy efficiency during the product's lifetime and promoting the biodegradability of unused and outdated products.
Statistics:
The global green IT services market is estimated to account for US$ 13.71 Bn in terms of value by the end of 2022.
Drivers:
Companies promoting eco- friendly methods as a part of their business have been proven to draw new customers who want to buy products and services from eco- friendly businesses. Further, various government regulations are compelling businesses to manage their carbon footprint, thus positively impacting the demand for global green IT services market.
Opportunity:
The telecom industry has witnessed robust growth during the last few decades, assisted by the growing adoption in developing regions. Green IT services support telephone systems, cabling, installation and repair, fault tracing, and survey services. Also, they ensure that the wiring installation's quality will be persistent and can replace the old ones which is expected to fuel the growth of global green IT Services market.
Recent Development:
In December 2020, Johnson Controls and Microsoft Corporation declared a global partnership of the digitally changed buildings and the space in the Azure Digital Twins and the Johnson Control’s Open Blue Digital Twin platform. This may help the whole ecosystem of creating the device management technologies with the digital cloud technologies by decreasing the use of energy and the resources.
To know the latest trends and insights prevalent in the Green IT Services Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/green-it-services-market-5093
Restraint:
The impact of the pandemic have forced the industries globally to limit their spending on the technologies and the services that are known as mission critical through several initiatives that were initially focused on the transformation. This is expected to hamper the growth of global Green IT services market.
Global Green IT Services Market - Impact of Coronavirus (Covid-19) Pandemic
With the rising Covid-19 cases, the liabilities of the supply chains is also exposed and for many IT companies, a fragile eco-friendly method comprising the suppliers of the critical ITT services. Additionally, the work from home compulsions have led the service offerors to guarantee that the mission critical enterprise customers have the required tools to let the speed, quality, standard, security and the efficiency of the services offered.
Key Takeaways:
The global green IT Services was valued at US$ 12.46 Bn in 2021 and is forecast to reach a value of US$ 34.83 Bn by 2030 at a CAGR of 12.4% between 2022 and 2030.
Industrial Segment held the dominant position in the global green IT Services market in 2022, accounting for 38.4% share in terms of value, increasing approval and launch of new products is expected to propel the growth of the segment during the forecast period.
Key Trends/Takeaways:
Trend 1:
Companies are launching green IT service programs to promote the use of energy efficient solutions to decrease the overall carbon footprint of their IT development and service processes which is projected to boost the growth of global green IT services market. For instance, SAP launched a new program focused on the energy and natural resources industries in Australia and New Zealand (ANZ). Six start-ups in the areas of predictive analytics, industrial assets management, workers’ safety, and wellness have been selected to join the program.
Trend 2:
The increasing adoption of RFID sensors that minimize the carbon emissions and increase the consumer and industrial interest to use clean energy resources is the important factor that is expected to boost the growth of the global green IT service market in the coming years.
Competitive Landscape:
Major companies operating in the global green IT services market are Schneider Electric SE, Accuvio Sustainability Software, Cority Software Inc., IBM Corporation, Johnson Controls, Dakota Software Corp, Accenture PLC, Enablon SA and SAP SE.
