Green Information Technology Services Market: Industry Outlook, Growth Prospects and Key Opportunities
The motive behind deploying green IT practices is to reduce the dependence on hazardous materials, thus promoting biodegradability of outdated or unused products and maximizing the energy efficiency through a product’s lifetime.
The concept of green IT services was first coined in 1992 when Energy Star was launched by the U.S. Environmental Protection Agency. Energy Star is a voluntary labeling program that helps enterprises save money and curb greenhouse gas emissions by identifying the products that offer energy efficiency. Apart from the aforementioned components, green IT also includes redesigning data centers. The market for green IT services has been gaining impetus from the growing popularity of virtualization, cloud computing, and green networking.
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Global Green Information Technology (IT) Services Market: Key Opportunities and Threats
Software development and optimization are dependent on several factors such as algorithmic efficiency, virtualization, resource allocation, and terminal server’s optimization. Many enterprises are keen on adopting green technology and are looking for vendors who can help them in offering green IT services to their clients, subsequently assisting them in reducing costs incurred on data centers and other IT services.
Large-scale organizations around the world have already started deploying criteria or metrics on water use or power use. Apart from tracking their corporate carbon footprint, these companies are also ensuring optimal utilization of assets by promoting the reuse of IT components instead of investing in new ones. The IT services market therefore has been gaining significant momentum from the capital intensive approaches adopted by companies.
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Apart from the ICT industry, the hospitality, banking and financial services, manufacturing, pharmaceuticals, and various other industries are joining the green IT and sustainability trend.
The global green IT services market is majorly driven by the increasing desire among the corporate and IT sector to improve efficiency and reduce costs. The market is also gaining from favorable government initiatives encouraging the implementing of green projects. Currently, green IT solutions are focusing on data centers, thus providing opportunities for leading vendors to expand their reach into other IT functionalities.
Regionally, the market witnesses the most attractive opportunities in North America and Europe. Favorable government policies prevalent in these regions have been boosting the green IT services market in Europe and North America.
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Global Green Information Technology (IT) Services Market: Vendor Landscape
To study the prevailing vendor landscape in the market, the report profiles companies such as Deloitte Touche Tohmatsu Limited, Accenture plc, Cap Gemini S.A., IBM Corp., Tata Consultancy Services, Limited, Dell Inc., Cisco Systems Inc., and others.
In 2006, Cisco Systems Inc. along with Cap Gemini S.A., Intel Corp., SAP AG, and Oracle Corp formed Smart Energy Alliance (SEA). These companies have collaborated for the development of smart energy services and utilities.
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