According to a report, the market for green technology and sustainability is projected to increase from US$ 16.25 billion in 2022 to US$ 122.69 billion in 2032, at a compound annual growth rate (CAGR) of 22.4% during the forecast period of 2022 to 2032.
RFID sensor adoption across industries is driving demand for green technology and sustainability products and services. Due to the widespread adoption of smart grid technology in a variety of industries and its benefits in terms of cost-effectiveness, dependable grid integration, and technological advancements in green technology, major leading firms are increasingly choosing these solutions.
The size of this green technology and sustainability market is anticipated to grow dramatically throughout the forecast period in emerging economies. The potential for technological businesses to lower the number of carbon emissions and energy consumption created by these wireless devices is one of the key factors driving the rise of the green technology and sustainability industries.
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The market’s expansion is mostly attributable to North America’s abundance of green technology and sustainability vendors. The market for green technology and sustainability is expected to present considerable investment potential in the Asia Pacific region.
Key Takeaways:
- The green technology and sustainability market is predicted to develop at a CAGR of 22.4%, with a market share of US$ 122.69 billion through 2032.
- The green technology and sustainability market share in North America is estimated to have a CAGR of 20.8% through 2032.
- Asia Pacific is expected to have a greater growth potential in the green technology and sustainability market during the forecast period.
- Based on components, the Solution segment is expected to have the biggest green technology and sustainability market.
- Based on the technology, the cloud computing segment is anticipated to have the highest green technology and sustainability market share during the forecast period.
- Based on the application, the green building segment is projected to have a greater green technology and sustainability market share during the forecast period.
Competitive Landscape:
The market for green technology and sustainability is now crowded with manufacturers who are actively competing for market share. The green technology and sustainability market is anticipated to be dominated by a small number of players.
Some of the major players in the green technology and sustainability market are
- General Electric
- Wolters Kluwer N.V.
- Salesforce, Inc.
- Microsoft
- Schneider Electric
- Engine Impact
- Cority (Enviance)
- Sensus, a Xylem brand
- LO3 Energy
- CropX Inc.
Key segments
By Component:
- Solution
- Services
By Technology:
- AI and Analytics
- Digital Twin
- Cloud Computing
- Blockchain
- Others
By Application:
- Green Building
- Carbon Footprint Management
- Air and Water Pollution Monitoring
- Weather Monitoring and Forecasting
- Fire Detection
- Crop Monitoring
- Soil Condition/ Moisture Monitoring
- Forest Monitoring
- Sustainable Mining and Exploration
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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