IBM - Global Green IT Services Market to achieve a 10.6% CAGR projected to Attain USD 30.5 Billion by 2030 as per Straits Research | Benzinga
New York, United States, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Companies throughout the world have begun enhancing operational efficiencies. The need to decrease waste, utilize resources efficiently, and reduce carbon footprints necessitates implementing innovative and sustainable solutions. Increasing emphasis on carbon footprint reduction and rising demand for eco-friendly services are driving the expansion of green IT services.
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Strengthening Government Regulations to Drive the Global Green IT Services Market
The strengthening of regulatory and non-regulatory frameworks is anticipated to stimulate the growth of green businesses. While some governments have loosened enforcement of vital environmental policies and regulations, primarily due to the epidemic, preserving long-term commitments and adhering to their implementation will be essential. The European governments have been progressively tightening their carbon emission standards for enterprises operating in numerous industries. To comply with the government-mandated criteria, it is anticipated that enterprises operating in the region will progressively embrace greener services.
Increase in Social Media Platforms and Reduction in Carbon footprint to Provide Opportunities for the Global Green IT Services Market
According to Straits Research, "The global green IT services market size is predicted to reach an expected value of USD 30.5 billion by 2030, registering a CAGR of 10.6% during the forecast period (2022-2030)." Due to a surge in social media platform users, both Internet traffic and the need for cloud storage have increased substantially. The replacement of old servers with high-capacity, energy-efficient, powerful servers is anticipated to influence the market's growth significantly. SAP announced a new program in Australia and New Zealand geared toward the energy and natural resources businesses (ANZ). Six startups in predictive analytics, industrial asset management, worker safety, and wellness have participated ...