Cloud Computing Is The Fastest Growing Segment Fueling The Growth Of The Green IT Services Market

https://www.coherentmarketinsights.com/market-insight/green-it-services-market-5093
Green IT Services Market


Market Overview:

Green IT services help organizations reduce their carbon footprint and environmental impact through more efficient management of IT assets and infrastructure. They enable monitoring and improving energy usage through server virtualization, cloud computing, and recycling programs.

The global Green IT Services Market is estimated to be valued at US$ 14.01 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends

One of the key trend in the Green IT services market is the rising adoption of cloud computing services. Organizations are increasingly moving their data and applications to the cloud to benefit from lower energy usage through centralized infrastructure and reduced hardware requirements. The cloud model allows flexible scaling of resources based on real-time needs, improving efficiency. This has boosted demand for consulting and optimization services around cloud migration from green IT service providers.

Segment Analysis

The global green IT services market is segmented by service type, industry vertical, and region. Based on service type, the market is segmented into carbon usage measurement & monitoring, energy & carbon advisory services, optimization & resource solutions, greenhouse gas validation & certification, and others. The optimization & resource solutions segment dominates the market due to the growing need to optimize IT infrastructure for efficiency and reduce operational costs.

Key Takeaways

The global Green IT Services Market Growth is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to the increasing need to reduce carbon footprint and environmental impacts of growing IT infrastructure.

Regional analysis -North America dominates the green IT services market currently due to strong presence of key players, stringent environmental regulations, and availability of advanced infrastructure. Asia Pacific is expected to grow at the highest CAGR during the forecast period due to rapid industrialization and urbanization in developing economies such as China and India.

Key players - Key players operating in the 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. Schneider Electric SE dominates the market due to strong portfolio of data center infrastructure management solutions helping reduce energy costs and carbon footprint. The other key players are focusing on partnerships, new product innovations and mergers & acquisitions to gain competitive edge in the market.

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