Press release
Green Technology Market Set to Reach $77.46 Billion by 2029 with 26.7% Yearly Growth
Green Technology Market Size
The upward trend towards sustainable investment is set to bolster the expansion of the green technology market in the future. Also referred to as ESG investing, sustainable investment aims to produce financial gains while also taking into account environmental, social, and governance factors. As understanding and recognition of environmental and social issues increase, a more significant amount of investments are being mobilized towards fostering a sustainable future. Green technology is integrated into sustainable investment by directing funds to businesses that create and utilize environmentally friendly solutions to solve urgent global problems, all the while generating financial profits and promoting a sustainable future. For example, a report by Morgan Stanley in February 2024 stated that assets under management (AUM) in sustainable funds in the U.S had grown to $3.4 trillion by 2023's end, making up 7.2% of the global AUM total and showing a 15% jump from $2.24 trillion in 2022. Hence, the escalating movement towards sustainable investment is fueling the expansion of the green technology market.
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How will the growth rate of the green technology market shape industry trends by 2034?
In the past few years, the size of the green technology market has seen significant growth. It is projected to increase from a market size of $23.63 billion in 2024 to $30.03 billion in 2025, with a compound annual growth rate (CAGR) of 27.1%. This growth during the historic period is due to increased awareness of the advantages of green technologies, escalating demand for biomass solutions, an urgent need to combat climate change, transition to climate tech solutions that are ready for short-term deployment, and a tendency towards sustainable investment.
Anticipated to surge remarkably in the years ahead, the green technology market is projected to expand to a sizable $77.46 billion by 2029, boasting a compound annual growth rate (CAGR) of 26.7%. The anticipated rise during the forecast period will likely be a result of increasing corporate dedication to achieving net-zero emissions, burgeoning economies channeling investments into green infrastructure, more pronounced worries about climate change and environmental deterioration, increased awareness amongst consumers and industries, along with government efforts to encourage green technology adoption. Major forecast period trends encompass data measurement technologies and software solutions that enhance efficiency, generate new sources of revenue, monitor performance, stimulate innovation in climate tech, and provide scalable and lucrative solutions.
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What new trends are reshaping the green technology market and its opportunities?
Leading businesses in the green technology sector concentrate on state-of-the-art solutions like green options to maintain the momentum of innovation, decrease ecological damage, and promote the shift to an eco-friendly economy. Insurance products and services have been specially curated to align with clients' net-zero objectives, concentrating on sustainable technologies and risk reduction strategies. For example, Munich Re Specialty Group, Munich Re's green technology arm based in Germany, instigated the green solutions scheme in May 2023 to align with its customers' net-zero goals. The goal of this initiative is to establish the group as a leading provider of commercial, specialty and primary green insurance risks by 2030. Green Solutions encompasses both existing green technology provisions and unique risk solutions. The portfolio strives to position itself as the preferred partner for sustainable risks within the London and Lloyd's markets. It also aims to utilize Munich Re's wide global distribution network to aid the transition to a net-zero economy, focusing on technologies such as photovoltaic, wind, carbon capture, and energy storage. Additionally, green solutions will furnish access to non-physical asset products like cyber insurance.
Which primary segments of the green technology market are driving growth and industry transformations?
The green technology market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Technology: Internet Of Things (IoT), Cloud Computing, Artificial Intelligence And Analytics, Digital Twin, Cybersecurity, Blockchain
3) By Applications: Non-Residential, Residential, Other Applications
Subsegments:
1) By Solutions: Renewable Energy Solutions, Energy Efficiency Solutions, Sustainable Water Management Solutions, Green Building Solutions, Waste Management Solutions
2) By Services: Consulting And Advisory Services, Installation And Implementation Services, Maintenance And Support Services, Environmental Auditing And Certification Services
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Which geographical regions are pioneering growth in the green technology market?
North America was the largest region in the green technology market in 2024. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the green technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the influential players reshaping the green technology market landscape?
Major companies operating in the green technology market are Alphabet Inc., Microsoft Corporation, Engie SA, Tencent Holdings Limited, General Electric Company, International Business Machines Corporation, Cisco Systems Inc., Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Ltd., Salesforce Inc., NEC Corporation, Adobe Inc., VMware Inc., Intuit Inc., Atos SE, Blackstone Inc., Wolters Kluwer N.V., Adani Green Energy Limited, OneTrust LLC, EKI Energy Services Limited, thinkstep Ltd., Verisae LLC, ClimatePartner Gmbh, 3 Degrees Inc., ProcessMAP Corporation, Sustainable Travel International Inc., Cool Effect Inc., Sensus B.V
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What Is Covered In The Green Technology Global Market Report?
• Market Size Forecast: Examine the green technology market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the green technology market for a structured understanding.
• Key Players Overview: Analyze major players in the green technology market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the green technology market.
• Segment Contributions: Evaluate how different segments drive overall growth in the green technology market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the green technology market.
• Industry Challenges: Identify potential risks and obstacles affecting the green technology market.
• Competitive Landscape: Review strategic developments in the green technology market, including expansions, agreements, and new product launches.
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