The market for green technology and sustainability is expected to grow at an incredible 22.4% CAGR between 2022 and 2032. According to industry researchers, the market for sustainable and green technologies is expected to have risen from US$ 16.25 billion in 2022 to US$ 122.69 billion by 2032.
It is anticipated that companies and communities seeking to shift the economy toward a low-carbon future would invest in long-term zero-carbon power contracts and advanced, data-driven energy solutions. It is anticipated that more individuals will embrace sustainable solutions and green technology as this trend gains traction over the next years.
The rising use of RFID sensors across industries is fueling the need for green technology and sustainability-related goods and services. Major leading organizations are progressively choosing these solutions due to the broad adoption of smart grid technology across a range of industries and its benefits in terms of cost-effectiveness, dependable grid integration, and technological developments in green technology.
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Throughout the projection period in emerging economies, the size of this green technology and sustainability market is predicted to increase significantly. One of the main elements influencing the growth of these sectors is the possibility for technical enterprises to reduce the number of carbon emissions and energy consumption produced by these wireless devices.
The proliferation of green technology and sustainability providers in North America is primarily responsible for the market’s growth. In the Asia Pacific area, there is likely to be significant investment opportunities in the market for green technology and sustainability.
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 a 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.
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
