Evolve Business Intelligence has published a research report on the Global Green Technology & Sustainability Market, 2023–2033. The global Green Technology & Sustainability Market is projected to exhibit a CAGR of around 29.41% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Green Technology & Sustainability Market: CropX Inc., Enablon, Enviance Inc., General Electric, IBM Corporation, LO3 Energy Inc., Oracle Corporation, Tech Mahindra Limited, Hortau Inc. and Trace Genomics Inc.
Market Highlights
The Global Green Technology & Sustainability Market is projected to be valued at USD 139.54 Billion by 2033, recording a CAGR of around 29.41% during the forecast period. The Green Technology & Sustainability Market encompasses products, services, and technologies that are designed to reduce environmental impact and promote sustainability. The market is driven by increasing awareness of environmental issues, regulatory pressures, and technological advancements aimed at creating more sustainable practices and reducing the overall carbon footprint.
The green technology & sustainability market is becoming increasingly globalized, with regions experiencing different growth rates and priorities.
The COVID-19 pandemic had a significant impact on the Green Technology & Sustainability Market. The pandemic heightened awareness of environmental issues and the importance of sustainability. With increased emphasis on health and well-being, there was greater support for green technologies and practices that contribute to cleaner air and reduced pollution. Lockdowns and restrictions disrupted global supply chains, affecting the production and distribution of green technologies. This led to delays in projects and increased costs for some green technology solutions. The shift to remote work and increased reliance on digital solutions led to a greater emphasis on technologies that support remote collaboration and energy-efficient operations. This trend supported growth in areas like energy-efficient IT infrastructure and green data centers. Increased public awareness of environmental issues and health concerns led to a rise in consumer demand for sustainable products and services. This shift in consumer behavior supported the growth of green technology and sustainability initiatives.
Segmental Analysis
The global Green Technology & Sustainability Market has been segmented based on Technology and Application.
Based on Technology, the Green Technology & Sustainability Market is segmented into Internet of Things (IoT), Cloud Computing, Artificial Intelligence & Analytics, Digital Twin, Cyber Security and Blockchain. The Internet of Things (IoT)segment is anticipated to dominate the market.
Based on Application, the global Green Technology & Sustainability Market has been divided into Green Building, Carbon Footprint Management, Weather Monitoring & Forecasting, Air and Water Pollution Monitoring, Forest Monitoring, Crop Monitoring, Moisture Monitoring, Water Purification and Others. The Green Building segment is anticipated to dominate the market.
More Information: https://evolvebi.com/report/green-technology-sustainability-market-analysis/
Regional Analysis
The Green Technology & Sustainability Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. In North America region, United States and Canada countries have strong commitments to green technology and sustainability, driven by federal and state-level policies. The U.S. has numerous incentives for renewable energy, energy efficiency, and electric vehicles. Canada emphasizes clean energy and sustainability as part of its national strategy. Opportunities are present in renewable energy projects, electric vehicle infrastructure, and sustainable building practices. In Europe region, the EU has ambitious goals for reducing greenhouse gas emissions and increasing the use of renewable energy. Programs like the European Green Deal and Horizon Europe provide funding and support for green technologies. Key opportunities include renewable energy projects, energy efficiency, and sustainable agriculture. In Asia-Pacific region, Chaina is the world’s largest emitter of greenhouse gases, China is heavily investing in renewable energy, electric vehicles, and green technologies to address environmental concerns and meet its carbon reduction targets. The market is substantial, with opportunities in solar and wind energy, energy storage, and electric mobility. In Latin America region Brazil and Argentina countries are investing in renewable energy, particularly hydropower, wind, and solar energy. Brazil has a strong focus on bioenergy and sustainable agriculture. Opportunities exist in renewable energy projects, energy efficiency, and waste management. In Middle East and Africa region, Countries like the UAE and Saudi Arabia are investing heavily in renewable energy projects, such as solar and wind, as part of their diversification strategies away from oil dependence. Opportunities are in solar energy, energy efficiency, and sustainable infrastructure.