Green Technology and Sustainability Market Top Companies Study - Alphabet Inc., IBM Corporation, Sensus, Microsoft Corporation, ENGIE Impact.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Green Technology and Sustainability Market"-, By Component (Solutions & Services), By Deployment (Cloud & On-Premise), By Enterprise Type (Large Enterprise and SMEs), By Implemented Technology (Internet of Things, AI & Analytics, Digital Twin, Cloud Computing, Blockchain), By Application (Air & Water Pollution Monitoring, Carbon Footprint Management, Crop Monitoring, Fire Detection, Forest Monitoring, Green Building, Soil Condition Monitoring, Sustainable Mining, Water Management, Weather Monitoring), and Global Forecasts, 2024-2031 And Segment Revenue and Forecast To 2031."

The Green Technology and Sustainability Market is estimated to reach over USD 81.4 billion by 2031, exhibiting a CAGR of 21.3% during the forecast period.

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The development of renewable energy sources is a key application of green technology in sustainability, addressing critical global challenges like climate change, resource depletion, and environmental pollution. Green technology involves innovating and implementing environmentally friendly and sustainable products, processes, and systems designed to minimize ecological impact throughout their entire lifecycle. Sustainability, meanwhile, stresses the importance of meeting present needs without compromising future generations' ability to meet their own. Renewable energy sources like solar panels, wind turbines, and hydropower systems offer a sustainable alternative to fossil fuels by generating electricity from limitless natural resources with minimal greenhouse gas emissions. Beyond energy production, green technology also enhances energy efficiency in building design. By utilizing innovative materials and architectural techniques, residential and commercial buildings can reduce energy consumption, significantly lowering their carbon footprints.

Data centers in the United States were projected to consume nearly 73 billion kWh in 2020, according to the U.S. Data Center Energy Use Report, while the European Commission estimated a demand of 259 TWh for data centers in Europe. Due to their significant energy requirements, green data centers are expected to gain widespread adoption, driving growth in the sustainability and green technology market. Rising environmental awareness among consumers has increased demand for eco-friendly products, further fueled by government measures aimed at reducing waste output and carbon footprints. As a result, companies have embraced green manufacturing, creating products and services that align with environmental goals. Within this framework, smart technology offers green IT solutions that help protect the environment. Globalization has propelled global prosperity and development, particularly in emerging economies like China and India, which has led to the continuous consumption of environmental resources for expansion and industrialization. However, ecologists warn that if current exploitation rates persist, the planet may struggle to support a sustainable lifestyle. This is where green technology becomes crucial, balancing the benefits of globalization with the need to minimize environmental impacts.

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List of Prominent Players in the Green Technology and Sustainability Market:
• Alphabet Inc.
• IBM Corporation
• Sensus
• Microsoft Corporation
• ENGIE Impact
• General Electric Company
• Schneider Electric
• Oracle Corporation
• CropX Inc.
• Taranis Visual Ltd.
• Cority
• Lo3 Energy
• Salesforce, Inc.
• Xylem
• Wolters Kluwer N.V.
• Enviance
• Huawei
• SAP
• Siemens
• SunPower Corporation
• Wolters Kluwer N.V.
• Trace Genomics
• Enablon
• Taranis
• Consensys
• Hortau
• SMAP Energy
• Treevia

Market Dynamics:
Drivers:
Growing public and governmental awareness of environmental problems including pollution, resource depletion, and climate change is fueling the market for eco-friendly and sustainable technologies. Businesses and consumers are more likely to embrace green technologies to lessen their influence on the environment. To encourage the use of green technologies, governments everywhere are enforcing stronger environmental laws and providing incentives like tax breaks and subsidies. Market expansion is mostly driven by policies intended to lower carbon emissions, improve energy efficiency, and promote renewable energy sources. Countries are adopting green technologies and sustainable practices as a result of the global resolve to address climate change, which is illustrated by accords like the Paris Accord. The shift to a greener economy is being accelerated by this worldwide push. Customers and companies are being encouraged to invest in green technology by the long-term cost benefits linked to sustainable practices and energy-eficient technologies, such as decreased operating costs and energy bills.

Challenges:
The widespread adoption of sustainability techniques and green technology is hampered by high upfront expenditures. Even though these solutions promise long-term benefits, many individuals and businesses might consider the required initial expenditure to be exorbitant. Eco-friendly building materials, energy-efficient appliances, and renewable energy systems are usually more expensive than their traditional counterparts.

Regional Trends:
North America has the largest market share during the forecast period. Due to many multinational corporations that are committed to sustainability, driving significant investment in green manufacturing, renewable energy, and carbon reduction. High consumer awareness in the U.S. and Canada drives demand for eco-friendly products, which fuels green innovations across sectors such as energy, construction, and transportation. North America has a well-developed infrastructure for renewable energy generation and distribution, particularly in solar, wind, and hydropower. The U.S. and Canada have invested heavily in expanding their renewable energy capacity, making it easier for businesses and households to access clean energy. However, Asia-Pacific is seeing rapid growth in renewable energy, with China and India leading the way in solar and wind capacity. Government incentives and economic growth are fueling the shift to cleaner energy sources. Rapid industrialization and urbanization in countries like China, India, and Southeast Asia create demand for green building materials, sustainable infrastructure, and smart city solutions.

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Recent Developments:
• In March 2024, Schneider Electric revealed that its EcoStruxure IT data center infrastructure management platform now includes sophisticated sustainability reporting. This tool will assist data center operators in fulfilling the criteria of the European Energy Efficiency Directive (EED) and will be accessible beginning next month.
• In February 2024, Microsoft presented data and AI solutions to help businesses achieve their sustainability objectives. To assist businesses in effectively reporting, documenting, and minimizing waste, emissions, and water impact, the company also included Microsoft Sustainability Manager with Copilot and intelligent insights. One option for sustainability in the Microsoft Cloud is Microsoft Sustainability Manager.

Segmentation of Green Technology and Sustainability Market.
Global Green Technology and Sustainability Market- By Component
• Solutions
• Services
Global Green Technology and Sustainability Market- By Deployment
• Cloud
• On-Premise
Global Green Technology and Sustainability Market - By Enterprise Type
• Large Enterprise
• SMEs
Global Green Technology and Sustainability Market - By Implemented Technology
• Internet of Things (IoT)
• AI and Analytics
• Digital Twin
• Cloud Computing
• Blockchain
• Others
Global Green Technology and Sustainability Market - By Application
• Air and Water Pollution Monitoring
• Carbon Footprint Management
• Crop Monitoring
• Fire Detection
• Forest Monitoring
• Green Building
• Soil Condition/Moisture Monitoring
• Sustainable Mining and Exploration
• Water Management
• Weather Monitoring and Forecasting
• Others
Global Green Technology and Sustainability Market - By Region
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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This release was published on openPR.