According to forecasts, the market for green technology and sustainability will reach US$ 122.69 billion in 2032, up from US$ 13.28 billion in 2021, growing at a CAGR of 22.4%. (2022-2032).
Long-term zero-carbon power contracts and intelligent, data-driven energy solutions are likely to be investments made by companies and communities working to transition the economy toward a low-carbon future. As this trend picks up steam in the coming years, it is anticipated that the adoption 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 adoption of RFID sensors across industries. Due to the widespread use of smart grid technology across many industries and its advantages in terms of cost-effectiveness, reliable 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 during the forecast period in emerging economies. The potential for technological companies to lower the number of carbon emissions and energy consumption produced by these wireless devices is one of the main factors driving the growth of the green technology and sustainability industries.
The market’s expansion is primarily attributable to North America’s abundance of green technology and sustainability vendors. The market for green technology and sustainability is expected to present significant investment opportunities 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.
- the 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 the greater green technology and sustainability market share during the forecast period.
Competitive Landscape:
Manufacturers are aggressively vying for market share in the green technology and sustainability market, which is currently crowded with players. A select few companies are predicted to control the green technology and sustainability market.
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 MonitoringWeather Monitoring and Forecasting
- Fire Detection
- Crop Monitoring
- Soil Condition/ Moisture Monitoring
- Forest Monitoring
- Sustainable Mining and Exploration
- Others
By Region:
- North America
- Europe
- the Asia Pacific
- Middle East & Africa
- Latin America
