Feb. 15, 2008 - Technology executives see the burgeoning green movement as a significant market opportunity, according to a new PricewaterhouseCoopers survey. Forty percent of respondents say their company is poised to profit from the recent uptick in customer demand for green products and services.

Interestingly, hardware manufacturers tend to be more tuned in to this trend than software companies. According to the survey, 60% of technology manufacturers are developing green products and services, compared to only 33% of non-manufacturers.

“The growing demand for environmental products and services is now translating into new markets that technology businesses can address,” says Barry Murphy, technology tax partner at PricewaterhouseCoopers. “For technology companies to incorporate this demand into opportunities to drive growth, they must ensure their green initiatives are in line with their business strategy.”

The shift toward green products and services is having a direct impact on the level of collaboration and innovation found throughout the entire technology value chain, the study notes. While just one in five executives claims that their company currently practices environmentally preferred purchasing, about half expect to implement green purchasing policies within the next two years.

Technology companies are also taking steps to safeguard themselves from future government legislation and regulations by proactively imposing their own green-oriented controls, according to the study. Twenty percent of survey respondents say their companies maintain a "formal and widely distributed" environmental policy, and that figure is expected to jump to 50% over the next two years. Other approaches include auditing internal green practices, appointing senior executives to oversee green programs, and creating a clearer linkage between green initiatives and performance.

“The pendulum swing toward green technology is unleashing a creative disruption within the global technology market, says Murphy. “The pressure is on for companies to respond quickly, make the most of new opportunities and manage their own environmental risk.”

Download the full report here (PDF).