What Transformation Has the Green Technology and Sustainability Market Undergone?
The green technology and sustainability market has seen considerable growth due to a variety of factors.
• The market size for green technology and sustainability has seen significant growth in the previous years. From 2024 to 2025, the market is expected to increase from $18.81 billion to $23.41 billion, exhibiting a compound annual growth rate (CAGR) of 24.4%. The notable growth during the historical period is due to variables such as investment and funding, the broadening of renewable energy, initiatives for corporate sustainability, solutions for waste management, programs for energy efficiency, urban development, and infrastructure sustainability.
What are the Market Size and Expected Growth Rates for the Green Technology and Sustainability Market?
The Green Technology and Sustainability market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of green technology and sustainability is anticipated to witness significant increase over the coming years, escalating to $55.06 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 23.8%.
This increase during the forecasting period is due to factors such as the growing demand for sustainability from consumers, enhancements in energy efficiency, the implementation of a circular economy, commitments to corporate sustainability, and worries about climate change. The major market trends observed during this forecast period involve measures to mitigate climate change, investments in research and development, commitments to corporate sustainability, initiatives related to the circular economy, and sustainable urban development.
Which Key Drivers Are Propelling The Green Technology and Sustainability Market's Growth?
Anticipated market growth in green technology and sustainability is fueled by soaring fuel prices and escalating pollution levels. The spike in fuel prices relates to the increased costs of petrol on the global market. Pollution, on the other hand, can be attributed to a myriad of human activities, ranging from industrial and transportation usage of fossil fuels to the agricultural application of synthetic fertilisers and pesticides. As a result, there is a heightened demand for more sustainable practices and green technologies which can harness natural energy sources like solar panels, wind turbines, dams, and geothermal wells. For instance, the U.S. Environmental Protection Agency revealed in July 2024 that U.S. greenhouse gas emissions in 2022 had risen by 0.2% in comparison to 2021, totalling 6,343.2 million metric tons of CO2 equivalent. Thus, the spiralling fuel costs and intensifying pollution levels are expected to steer the market towards more eco-friendly and sustainable technology solutions.
What Are The Key Segments Within The Global Green Technology and Sustainability Market?
The green technology and sustainability market covered in this report 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
Subsegments:
1) By Solution: Energy Management Solutions, Water Management Solutions, Waste Management Solutions, Sustainable Agriculture Solutions
2) By Services: Consulting Services, Implementation Services, Maintenance And Support Services, Training And Education Services
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How Are New Trends Impacting The Size Of The Green Technology and Sustainability Market?
The green technology and sustainability market is increasingly characterized by technological developments and the uptake of groundbreaking technologies. Several entities are pouring significant investments into enhancing their technical capabilities to offer sustainable solutions and reduce dependence on fossil resources. As a case in point, ABB Ltd., a Swiss firm specializing in electrification and automation, unveiled the ABB Ability OPTIMAX in November 2022. This energy management system caters specifically to green hydrogen production, with the potential to cut electricity-related costs for manufacturers by up to 20%. The system incorporates features such as forecasting and intra-day planning, enabling businesses to maintain competitive grid trading.
Who Are the Key Players In The Green Technology and Sustainability Market?
Major companies operating in the green technology and sustainability market include:
• General Electric Company
• Intelex Technologies Inc.
• Microsoft Corporation
• ConsenSys
• Salesforce.com Inc.
• Schneider Electric SE
• Trace Genomics
• ENGIE Insight Services Inc.
• LO3 Energy
• Enablon
• MineSense Technologies Ltd.
• Enviance
• IsoMetrix Software
• Oracle Corporation
• Tech Mahindra Ltd.
• International Business Machines Corporation
• Sunnova Energy International Inc.
• SunPower Corporation
• Siemens Gamesa Renewable Energy SA
• SolarEdge Technologies Inc.
• Brookfield Renewable Partners LP
• Autodesk Inc.
• Evoqua Water Technologies Corp.
• Bloom Energy Corporation
• Burcon NutraScience
• JinkoSolar Holding Co. Ltd.
• Johnson Controls International PLC
• Suntech Power Co. Ltd.
• Hanwha Q CELLS Co. Ltd.
• Trina Solar Co. Ltd.
What Are The Regional Insights Into The Green Technology and Sustainability Market?
North America was the largest region in the green technology and sustainability market share in 2024. The regions covered in the green technology and sustainability market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
