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Innovative Tech Integration Abb's Breakthrough In Green Hydrogen With Abb Ability Optimax Industry Trends Gaining Momentum in the Global Green Technology and Sustainability Market
Green Technology and Sustainability
Green Technology and Sustainability Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over the past few years, the market for green technology and sustainability has experienced significant expansion. It is projected to increase from $18.81 billion in 2024 to $23.41 billion in 2025, reflecting a compound annual growth rate (CAGR) of 24.4%. Factors such as investment and funding, the growth of renewable energy, corporate sustainability efforts, waste management solutions, energy efficiency schemes, urbanization, and sustainable infrastructure have all contributed to the growth observed in the historic period.
Green Technology and Sustainability Market Size Forecast: What's the Projected Valuation by 2029?
The market size of green technology and sustainability is projected to witness tremendous expansion in the near future, scaling up to $55.06 billion by 2029, at a compound annual growth rate (CAGR) of 23.8%. This growth during the predicted period can be associated with the rise in consumer demand for sustainable solutions, progress in energy efficiency, embracing of circular economy, pledge towards corporate sustainability, and apprehensions regarding climate change. The forthcoming period is expected to witness major trends like climate change containment, funding in research and development, corporate vows towards sustainability, circular economy measures, and urban sustainability initiatives.
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What Are the Drivers Transforming the Green Technology and Sustainability Market?
Rising fuel costs and escalating levels of pollution are predicted to drive the growth of the green technology and sustainability market in the future. This increase in fuel costs can be attributed to the sharp escalation in gasoline prices on the global stage. A multitude of human activities, such as the industrial and transportation sectors' reliance on fossil fuels, and the employment of synthetic fertilizers and pesticides in farming, contribute to pollution. Consequently, there's an upswing in the demand for green technology and sustainability, which leverages natural energy sources like solar panels, wind turbines, dams, and geothermal wells, among others. For example, The Environmental Protection Agency, based in the U.S., reported in July 2024 that U.S. greenhouse gas emissions increased by 0.2% in 2022 compared to 2021, totaling 6,343.2 million metric tons of CO2 equivalent for the year. Thus, the steep rise in fuel costs and expanding pollution levels are predicted to fuel the growth of the green technology and sustainability market.
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What Long-Term Trends Will Define the Future of the Green Technology and Sustainability Market?
Rapid strides in technology and the embracement of groundbreaking innovations represent trending patterns in the green tech and sustainability sector. Numerous companies are channeling significant finances towards technological enhancements in a bid to provide eco-friendly solutions and decrease dependence on fossil fuels. For example, ABB Ltd., a Swiss company specializing in electrification and automation, introduced ABB Ability OPTIMAX, a green hydrogen energy management system, in November 2022. This system is designed to aid hydrogen production companies in slashing costs related to electricity by up to 20%. It integrates prediction features and intra-day planning, ensuring commercial entities are able to trade effectively with the grid.
Which Segments in the Green Technology and Sustainability Market Offer the Most Profit Potential?
The green technology and sustainability market covered in this report is segmented -
1) By Component: Solution, Services
2) By Technology: Internet of things (IoT), AI And Analytics, Digital Twin, Cloud Computing, Security, Block-chain
3) By Application: Green Building, Carbon Footprint Management, Weather Monitoring And Forecasting, Air And Water Pollution Monitoring, Forest Monitoring, Crop Monitoring, Soil Condition And Moisture Monitoring, Water Purification, Other Applications
Subsegments:
1) By Solution: Energy Management Solutions, Water Management Solutions, Waste Management Solutions, Sustainable Agriculture Solutions
2) By Services: Consulting Services, Implementation Services, Maintenance And Support Services, Training And Education Services
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Which Firms Dominate the Green Technology and Sustainability Market by Market Share and Revenue in 2025?
Major companies operating in the green technology and sustainability market are General Electric Company, Intelex Technologies Inc., Microsoft Corporation, ConsenSys, Salesforce.com Inc., Schneider Electric SE, Trace Genomics, ENGIE Insight Services Inc., LO3 Energy, Enablon, MineSense Technologies Ltd., Enviance, IsoMetrix Software, Oracle Corporation, Tech Mahindra Ltd., International Business Machines Corporation, Sunnova Energy International Inc., SunPower Corporation, Siemens Gamesa Renewable Energy SA, SolarEdge Technologies Inc., Brookfield Renewable Partners LP, Autodesk Inc., Evoqua Water Technologies Corp., Bloom Energy Corporation, Burcon NutraScience, JinkoSolar Holding Co. Ltd., Johnson Controls International PLC, Suntech Power Co. Ltd., Hanwha Q CELLS Co. Ltd., Trina Solar Co. Ltd.
Which Regions Offer the Highest Growth Potential in the Green Technology and Sustainability Market?
North America was the largest region in the green technology and sustainability market share in 2024. The regions covered in the green technology and sustainability market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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