Press release
Future of the Global Green Technology and Sustainability Market: Trends, Innovations, and Key Forecasts Through 2034
Green Technology and Sustainability Market
Green Technology and Sustainability Market Size Growth Forecast: What to Expect by 2025?
The market of green technology and sustainability has been experiencing a rapid expansion in its size in the last few years. The projected growth is from $18.81 billion in 2024 to $23.25 billion in 2025, representing a compound annual growth rate (CAGR) of 23.6%. The historic surge in this market can be credited to factors such as investments and funding, development of renewable energy, initiatives for corporate sustainability, solutions for waste management, energy efficiency initiatives, urbanization, and progression towards sustainable infrastructure.
How Will the Green Technology and Sustainability Market Size Evolve and Grow by 2029?
In the near future, the size of the green technology and sustainability market is anticipated to witness phenomenal expansion. Its progression is estimated to reach $53.92 billion by 2029, increasing at a Compound Annual Growth Rate (CAGR) of 23.4%. Factors contributing to this predicted growth within the projection period include an increased emphasis on sustainability from consumers, enhancements in energy efficiency, the implementation of the circular economy, businesses' devotion to sustainable practices, and anxiety surrounding climate change. Other trends to watch out for during this forecast period comprise efforts to alleviate climate change, investments in research and development, corporate sustainability commitments, initiatives centred around the circular economy, and the sustainability of urban environments.
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What Drivers Are Propelling the Growth of Green Technology and Sustainability Market Forward?
The continuous escalation of fuel costs coupled with the aggravation of pollution levels are projected to drive the growth of the green technology and sustainability market in the future. The inflation in fuel costs alludes to the upswing of international gasoline prices. Various human undertakings, such as industrial and transportation use of fossil fuels and the application of synthetic fertilizers and pesticides in farming, contribute to pollution. Consequently, we are witnessing a growing need for green technology and sustainability to capitalize on natural resources like solar energy, wind energy, dams, and geothermal wells, among others. For instance, The Environmental Protection Agency, a U.S.-based organization, reported in July 2024 that in 2022, U.S. greenhouse gas emissions increased by 0.2% compared to the previous year, totaling 6,343.2 million metric tons of CO2 equivalent. Thus, the steep growth in fuel costs and escalating pollution levels will be key factors propelling the green technology and sustainability market.
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Which Emerging Trends Are Transforming the Green Technology and Sustainability Market in 2025?
The green technology and sustainability market is currently being driven by technological progression and the embrace of novel technologies. Numerous operators are channeling substantial investments into tech enhancements to offer enduring remedies and diminish their dependence on fossil resources. For example, in November 2022, ABB Ltd., a Swiss firm specializing in electrification and automation, introduced ABB Ability OPTIMAX, an energy administration system for green hydrogen. This system is designed to help hydrogen producers cut back their electricity-related costs by as much as 20%. It includes prognosis and intra-day strategic planning and enables firms to engage profitably with the grid.
What Are the Key Segments in the Green Technology and Sustainability Market?
The green technology and sustainabilitymarket 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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Who Are the Key Players Shaping the Green Technology and Sustainability Market's Competitive Landscape?
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.
What Geographic Markets Are Powering Growth 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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