Green Technology and Sustainability Market Report Overview
The global Green Technology and Sustainability Market, valued at US$ 15.39 billion in 2023, is poised for rapid expansion, with an expected Compound Annual Growth Rate (CAGR) of 22% during the forecast period from 2024 to 2030. This market is driven by increasing consumer and industrial interest in clean energy, cutting-edge technological advancements, and a strong focus on reducing the ecological footprint of human economic activities.
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Global Green Technology and Sustainability Market: Strong Growth Ahead
With a significant push from governments and businesses globally, the Green Technology and Sustainability Market is set to experience substantial growth. The demand for renewable energy, carbon footprint management, and eco-friendly building solutions is expected to fuel the market’s growth, with an increasing focus on clean energy sources like solar and wind.
The Rise of Clean Energy and Smart Solutions: Key Drivers of Growth
The primary driver of growth in the green technology sector is the increasing global focus on clean energy resources, alongside the growing adoption of advanced technologies like IoT, AI, and RFID sensors. Green technologies are transforming industries by improving energy efficiency, reducing emissions, and optimizing resource consumption.
Key Mergers and Acquisitions Shaping the Market Landscape
The Green Technology and Sustainability market is also witnessing several mergers and acquisitions, as companies strive to expand their market share and accelerate innovation. Key players are leveraging these strategic moves to increase their portfolio of sustainable solutions and technologies.
Vietnam: Companies in Vietnam are increasingly focusing on renewable energy solutions and eco-friendly agricultural practices, contributing to the growth of green technologies in the region.
Thailand: Thailand is investing heavily in smart grid technology and green infrastructure, enhancing the overall sustainability efforts in the region.
Singapore: Known for its commitment to sustainability, Singapore is a leader in the integration of IoT-based green technologies, particularly in the areas of smart buildings and waste management.
Japan: Japan’s focus on energy-efficient technologies and IoT applications is propelling its green technology sector. Major companies like General Electric are making significant strides in solar power technology.
Regional Insights: Market Expansion Across the Globe
North America: Dominating the market with a 35% share in 2023, North America remains the largest region for green technology and sustainability adoption. The U.S. and Canada are heavily investing in R&D for green infrastructure and clean energy solutions, driving significant market growth.
Asia Pacific: The Asia Pacific region, led by countries like Japan, South Korea, and Vietnam, is expected to experience rapid growth due to increasing investments in renewable energy, smart grids, and green technology innovations.
Europe: Europe continues to show leadership in sustainable practices, with strong governmental support for green energy technologies. The region’s push for carbon-neutral cities and energy-efficient infrastructure is expected to propel further growth.
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Green Technology and Sustainability Market Segmentation
by Technology
Internet of Things (IoT)
Cloud Computing
Artificial Intelligence & Analytics
Others
IoT, cloud computing, artificial intelligence, and others make up the technology-based segments of the green technology and sustainability market. In terms of technology, the Internet of Things (IoT) segment led the green technology and sustainability market in 2023, and it is anticipated that it will maintain its leading position for the duration of the forecast. The primary factor propelling the expansion of the IoT technology category is the implementation of green networks in IoT connections, which have reduced the abuse of environmental conservation and surveillance, limited pollutants and emissions, and reduced operational costs and power consumption.
by Application
Green Building
Carbon Footprint Management
Weather Monitoring & Forecasting
Air and Water Pollution Monitoring
Others
Green Building, Carbon Footprint Management, Weather Monitoring & Forecasting, Air and Water Pollution Monitoring, and Others are the segments of the Green Technology and Sustainability Market based on their respective applications. The green building industry is anticipated to be the largest market over the forecast period. The life cycle of a building should be as resource- and environmentally-conscious as feasible, starting with site selection and continuing through design, construction, operation, maintenance, repair, and deconstruction. This method is called “green building,” sometimes referred to as high-performance or sustainable building. The technique enhances the conventional building design with aspects of price, usability, durability, and comfort. Resource efficiency, interior environmental quality, energy and water efficiency, and the overall environmental impact of the construction are the primary considerations.
by Component
Solution
Services
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Green Technology and Sustainability Market Key Players
1.Cropx Inc.
2.Enablon
3.Enviance
4.General Electric Company
5.Hortau
6.International Business Machines Corporation
7.Lo3 Energy
8.Oracle Corporation
9.Trace Genomics, Inc.
10.Tech Mahindra Ltd.
11.Salesforce
12.Microsoft
13.Schneider Electric
14.Intelex
15.Sensus
16.Isometrix
17.SMAP Energy
18.Accuvio
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