Green Technology and Sustainability Market Growth Trajectory – Insights On Key Drivers, Major Trends, And Top Opportunities
10 May, 2023
The global green technology and sustainability market size is expected to grow from $12.13 billion in 2022 to $15.23 billion in 2023 at a compound annual growth rate (CAGR) of 25.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The green technology and sustainability market size is expected to reach $35.84 billion in 2027 at a CAGR of 23.8%.
Global Green Technology and Sustainability Market Key Driver
The exponential rise in fuel prices and increasing pollution levels are expected to propel green technology and sustainability market growth going forward. The rise in fuel prices refers to the surge in gasoline prices in the international market. Pollution is caused by many human activities, including using fossil fuels by industry and transportation and using synthetic fertilizers and pesticides in agriculture. Due to such reason, there is an increase in demand for green technology and sustainability to harness natural energy using solar panels, wind turbines, dams, and geothermal wells, among other things.
Get a Sample of the global green technology and sustainability market reportGlobal Green Technology and Sustainability Market Segments
The global green technology and sustainability market is segmented:
1) By Component: Solution, Services
2) By Technology: Internet of things (IoT), AI And Analytics, Digital Twin, Cloud Computing, Security, Block-chain
3) By Application: Green Building, Carbon Footprint Management, Weather Monitoring and Forecasting, Air And Water Pollution Monitoring, Forest Monitoring, Crop Monitoring, Soil Condition and Moisture Monitoring, Water Purification, Other Applications
4) By Geography: The regions covered in the green technology and sustainability market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global green technology and sustainability market.
Major Green Technology and Sustainability Industry Players
General Electric Company, Intelex Technologies Inc., Microsoft Corporation, ConsenSys, Salesforce Inc., Schneider Electric SE, Trace Genomics, ENGIE Insight Services Inc., LO3 Energy, Enablon.
Get the full global green technology and sustainability industry report here
Green Technology and Sustainability Market Overview
Green technology (GT) and sustainability is a term to define innovative ways to make environmentally friendly changes and as an alternative source of technology that reduces fossil fuels and its effect on the human, animal, and plant health. It is used to conserves natural resources and the environment. The green technology process is used to reduce the amount of waste and pollution that are created during production and consumption.
Green Technology and Sustainability Global Market Report 2023 provides data on the global green technology and sustainability market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The green technology and sustainability market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.