It is anticipated that between 2022 and 2032, the market for green technology and sustainability would expand at an astounding 22.4% CAGR. According to forecasts, the market for sustainable and green technologies would grow from US$ 16.25 billion in 2022 to US$ 122.69 billion by 2032.
Long-term zero-carbon power contracts and intelligent, data-driven energy solutions are expected to be investments made by companies and communities working to transition the economy toward a low-carbon future. As this trend gathers up steam in the future years, it is projected that the use of green technology and sustainable solutions will rise.
The demand for green technology and sustainability-related goods and services is being fueled by the expanding usage of RFID sensors across industries. Due to the widespread use of smart grid technology across a variety of industries and its advantages in terms of cost-effectiveness, reliable grid integration, and technological advancements in green technology, major leading corporations are increasingly choosing these solutions.
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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 amount 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.
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 component, 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 the 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.
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Some of the major players in the green technology and sustainability market are
- General Electric
- Wolters Kluwer N.V.
- Salesforce, Inc.
- Microsoft
- Schneider Electric
- Engie 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
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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