The global green technology and sustainability market size reached US$ 16.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 49.1 Billion by 2028, exhibiting a growth rate (CAGR) of 19.8% during 2023-2028.
Most of the world's commercial energy supply currently relies on fossil fuels that lead to considerable carbon emissions. As a result, governing agencies of numerous countries are emphasizing the adoption of green technology and sustainability to minimize and reduce the negative impact of human activities. Green technology and sustainability help conserve the natural environment and resources by integrating different products, equipment, and systems. They generally comprise cloud computing, Internet of Things (IoT), artificial intelligence (AI), cybersecurity, and other latest IT tools that assess and respond to environmental threats instantaneously.
Green Technology and Sustainability Market Trends:
Increasing global challenges, such as climatic changes, depletion of natural resources, and rising pollution levels, represent one of the major factors driving the need for green technology and sustainability to address the adverse environmental concerns. Moreover, the growing awareness among individuals about the consequences of environmental degradation and increasing global warming is propelling the use of green technology and sustainability worldwide as an alternative to traditional energy sources. Apart from this, various green initiatives undertaken by governments of several countries to promote sustainable development are positively influencing the adoption of smart technologies to generate renewable energy. Furthermore, they are used to address the growing need for transparency and information for data management, impact quantification, and verification and traceability of goods. Additionally, several packaging manufacturers are relying on blockchain technology to enable customers to scan products and access information about their sustainability and recyclability. Besides this, the emergence of the fourth industrial revolution or Industry 4.0 is encouraging the use of green technology and sustainability to minimize carbon footprint and reduce power and energy bills of manufacturing processes.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global green technology and sustainability market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, technology and application.
Breakup by Component:
Breakup by Technology:
- Cloud Computing
- Artificial Intelligence and Analytics
- Digital Twin
Breakup 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
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being ConsenSys, CropX inc., General Electric Company, Intelex Technologies ULC (Fortive Corporation), International Business Machines Corporation, Microsoft Corporation, MineSense Technologies Ltd., Oizom Instruments Private Limited, Oracle Corporation, Salesforce.com inc, Schneider Electric SE, Tech Mahindra Ltd and Trace Genomics Inc.
|Base Year of the Analysis
||Component, Technology, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ConsenSys, CropX inc., General Electric Company, Intelex Technologies ULC (Fortive Corporation), International Business Machines Corporation, Microsoft Corporation, MineSense Technologies Ltd., Oizom Instruments Private Limited, Oracle Corporation, Salesforce.com inc, Schneider Electric SE, Tech Mahindra Ltd and Trace Genomics Inc.
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Key Questions Answered in This Report:
- How has the global green technology and sustainability market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global green technology and sustainability market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global green technology and sustainability market and who are the key players?
- What is the degree of competition in the industry?