Climate Tech Market 2024 - By Share, Top Companies, Revenue Outlook And Growth Forecast By 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Climate Tech Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $63.42 billion In 2028 At A CAGR Of 24.8% :

The climate tech market size has grown exponentially in recent years. It will grow from $20.79 billion in 2023 to $26.12 billion in 2024 at a compound annual growth rate (CAGR) of 25.6%. The growth in the historic period can be attributed to increasing concerns about climate change and its impacts on the environment, growing awareness and demand for sustainable and eco-friendly solutions, government initiatives and policies promoting renewable energy and environmental sustainability, advancements in technology, rising investment in clean energy and climate-related projects, corporate commitments to reduce carbon footprint and adopt sustainable practices.

The climate tech market size is expected to see exponential growth in the next few years. It will grow to $63.42 billion in 2028 at a compound annual growth rate (CAGR) of 24.8%. The growth in the forecast period can be attributed to shift towards a circular economy and the adoption of circular supply chains, technological innovations in energy storage and grid modernization, demand for clean transportation solutions, including electric vehicles and alternative fuels, rising consumer awareness and demand for environmentally friendly products and services, increasing adoption of smart city initiatives and sustainable urban development, focus on sustainable agriculture and food production practices, and need for climate-resilient infrastructure and disaster preparedness. Major trends in the forecast period include renewable energy expansion, energy storage innovations, electric vehicle (EV) adoption, circular economy initiatives, and climate data analytics.

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Climate Tech Market Major Segments
The climate tech market covered in this report is segmented -

1) By Component: Climate Tech Solutions, Services
2) By Technology: Internet of Things (IoT), Artificial Intelligence (AI) And Analytics, Digital Twin, Cloud Computing, Security, Blockchain
3) By Application: Carbon Footprint Management, Green Building, Water Purification, Soil Condition Or Moisture Monitoring, Crop Monitoring, Forest Monitoring, Weather Monitoring And Forecasting, Air And Water Pollution Monitoring, Sustainable Mining And Exploration

Key Driver - Government Regulations And Policies As Catalysts For Climate Tech Market Growth

The government regulations and policies are expected to propel the growth of the climate tech market going forward. Government regulations and policies refer to the rules, guidelines, and initiatives implemented by governments to address climate change and promote sustainable development. Government regulations and policies help create a favorable environment for climate tech innovation, investment, and deployment, ultimately contributing to the transition to a more sustainable and low-carbon economy. For instance, in January 2021, according to US Climate 2021 Highlights, reported by the White House, a US-based organization 2021, the United States set ambitious climate targets, aiming to reduce its greenhouse gas emissions by 50-52% levels by 2030 and achieve 100% carbon pollution-free electricity by 2035. Therefore, government regulations and policies are driving the growth of the climate tech market.

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Prominent Trend - Environmental Intelligence Suite Advancing Climate Tech Solutions

Major companies operating in the climate tech market are developing innovative products such as environmental intelligence suites to provide environmental insights. Environmental Intelligence Suite is a collection of AI-based software tools aimed at helping organizations prepare for and respond to weather and climate-related disruptions. For instance, in October 2021, IBM Corporation, a US-based technology company, launched an environmental intelligence suite to help organizations assess their impact on the environment, reduce the complexity of regulatory compliance and reporting, and create more efficient business operations to reduce resource consumption and plan for resiliency in the face of climate disruptions. The suite leverages AI, weather data, climate risk analytics, and carbon accounting capabilities to provide environmental insights, monitor for disruptive environmental conditions, predict potential impacts of climate change, and measure and report on environmental data.

Climate Tech Market Players
Major companies operating in the climate tech market report are Microsoft Corporation, General Electric Company, IBM Corporation, BYD Auto Co. Ltd., Schneider Electric, Salesforce Inc, Climate Investor One, Wolters Kluwer N.V., Molten Ventures, ENGIE Insight Services Inc., Consensys, Form Energy, Intelex Technologies, Enablon North America Corp., Climeworks AG, AMP Robotics Corporation, Isometrix, Sensus, Taranis, Enviance Inc., Bedrock Energy, Breakthrough Energy Ventures, Trace Genomics, Hortau Inc., LO3 Energy

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Largest And Fastest Growing Region In The Market
North America was the largest region in the climate tech market in 2023. The regions covered in the climate tech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Climate Tech Market Report Structure
3. Climate Tech Market Trends And Strategies
4. Climate Tech Market - Macro Economic Scenario
5. Climate Tech Market Size And Growth
…..
27. Climate Tech Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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