Hyderabad, Aug. 04, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Green IT Services Market Report (2023-2028)," the market is estimated at USD 15.14 billion in 2023. It is expected to register a CAGR of 10.62% during the forecast period.
Green IT, also known as green computing, focuses on efficient resource use and eco-friendly practices. It encourages environment-friendly product manufacturing, virtualization, power management, and recycling. Sustainable sources and cost savings are driving the adoption of green IT practices. The need to reduce carbon footprints and improve resource utilization fuels the growth of green IT services. Governments worldwide are enforcing laws to control emissions, pushing industries to adopt green IT practices.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 15.14 billion |
| Market Size (2028) | USD 25.08 billion |
| CAGR (2023-2028) | 10.62% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Sustainable sources and cost savings. |
| The need to reduce carbon footprints and improve resource utilization. |
Who are the Top Companies in the Global Green IT Services Market?
The market is moderately fragmented and highly competitive, with no dominating players. Vendors are implementing various organic and inorganic growth strategies to strengthen their market offerings.
The significant players in the global green IT services market are,
- IBM Corporation
- Accenture PLC
- Johnson Controls
- SAP SE
- Schneider Electric SE
- Enablon SA
- Accuvio Sustainability Software
- Dakota Software Corp.
- Enviance Inc.
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- Green Packaging Market Report - The global green packaging market size is expected to grow from USD 262.27 billion in 2023 to USD 381.98 billion by 2028, at a CAGR of 7.81% during the forecast period (2023-2028).
- Smart Greenhouse Market Report - The smart greenhouse market size is expected to grow from USD 2.00 billion in 2023 to USD 3.18 billion by 2028, at a CAGR of 9.73% during the forecast period (2023-2028).
Key Highlights from the Global Green IT Services Market Report:
IT and Telecom Applications
- Information technology and the telecom sector have been prominent adopters of green IT services.
- Growing internet traffic and social media usage require updated storage and cloud systems with environment-friendly approaches.
- The telecom industry has seen substantial growth, especially in developing regions, supporting various services like telephone systems and cabling.
North America to Hold the Largest Market Share
- The North American market for green IT services is rapidly growing with a variety of notable software and service players.
- Government norms and regulations in the region are encouraging the adoption of green IT services.
- Data centers in North America are adopting alternative energy sources like wind, solar, and hydroelectricity to become more eco-friendly.
- North America faces environmental regulations, rising energy costs, and expanding data centers. Green IT services can help address these challenges effectively.
What are the Latest Developments in the Global Green IT Services Market?
- In April 2022, Huawei proposed the "Green and Low Carbon" concept at the Huawei Global Analyst Summit (HAS) 2022 for its Huawei CloudFabric 3.0 Hyper-Converged Data Center Network (DCN) Solution.
- In February 2022, Super Micro Computer Inc. unveiled a new short-depth multi-node system designed and optimized for 5G, IoT, and Edge applications.
Mordor Intelligence has Segmented the Global Green IT Services Market Based on Type, End-user Vertical, and Geography.
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Software
- Services
- By End-user Vertical (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Government
- BFSI
- IT and Telecom
- Industrial
- Healthcare
- Other End-user Verticals
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Green IT Services Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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