Green Technology and Sustainability Market Growing at 21.6% CAGR by 2030
The global green technology and sustainability market size was estimated at US$ 35.5 billion in 2021 and it is expected to hit US$ 417.35 billion by 2030 with a remarkable CAGR of 21.6% from 2022 to 2030.
Growth Factors:
Green technologies are considered as eco friendly technologies. These technologies help to gain sustainability by producing green and clean energy. The green technology is prominently used for the protection of environment. That’s the reason, the government all around the globe are heavily investing in the development of green technology. One of the major factors driving the growth of the global green technology and sustainability market is growing awareness regarding environment. In addition, the growing concerns about global warming and saving environment from it, is driving the growth of the global green technology and sustainability market over the forecast period.
Furthermore, growing carbon emissions is emphasizing the importance of adopting green technology all around the globe. This factor is boosting the expansion of the global green technology and sustainability market. Due to growing usage of clean energy, the demand for green technology is also rising at a rapid pace. On the other hand, the high costs for the deployment of green technology and sustainability solutions are restricting the growth of the green technology and sustainability market all around the world. Nevertheless, the favorable government initiatives and guidelines are creating growth prospects for the green technology and sustainability market.
The impact of the COVID-19 pandemic impact on the growth of the global green technology and sustainability market was moderate in nature. However, the growth of the green technology and sustainability market is expected to revive in coming years as lockdown restrictions are being removed all around the globe.
Report Scope of the Green Technology and Sustainability Market
|
Report Coverage |
Details |
|
Market Size by 2030 |
USD 417.35 Billion |
|
Growth Rate from 2022 to 2030 |
CAGR of 21.6% |
|
Largest Market |
North America |
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Fastest Growing Makret |
Europe |
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Base Year |
2021 |
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Forecast Period |
2022 to 2030 |
|
Segments Covered |
Component, Technology, Industry, Geography |
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Companies Mentioned |
General Electric Company, Enablon, Salesforce.com Inc, Microsoft Corporation, Schneider Electric, Engie Impact, Sensus, Enviance, Intelex Technologies Inc., CropX Inc. |
Market Dynamics
Driver:
IoT has been used to describe several technologies and research disciplines that enable global connectivity over physical objects. Enabling technologies, such as RFID, sensor networks, biometrics, and nanotechnologies, are now becoming common, bringing IoT forward to address various applications, including smart grid, eHealth, and intelligent transportation. Sensors and smart devices, which are communicating via high-speed data, are able to perform certain functions autonomously, calling for new forms of green communication between various smart devices, where power consumption is optimized, and bandwidth utilization is maximized. For instance, smart agricultural sensors collect weather conditions, soil quality, and crop growth progress data. This data can be used to track staff performance and equipment efficiency. Smart devices can automate processes across the production cycle—from irrigation and fertilizing to pest control. RFID tag and sensor association could provide a lot of new solutions to support green projects, such as more efficient energy production chain, waste management, and recycling. Nanotechnology is helping manufacturers in effective manufacturing, which is further helping reduce waste drastically.
Restraint:
The capital cost of building and installing solar and wind farms is high. Like most renewables, solar and wind fields are exceedingly cheap to operate since their fuel is free and maintenance is minimum; hence, most of the expense is spent on building technology-based products or solutions. Air quality monitoring, carbon footprint management, and air and water pollution monitoring are a few applications where the implementation of cutting-edge technologies, such as AI, IoT sensors, and analytics, require high maintenance costs. For instance, considering air quality monitoring software, which is used for analysis and testing of air quality parameters, the detection of chemical and biological components from the air requires the use of advanced cutting technologies, such as gas sensors, RFID, and PCR-based biosensors, where the cost of these technologies is high.
Opportunity:
Technology companies are looking for ways to reduce the energy consumption of their products. Companies are focusing on designing energy-efficient products, power supplies, and integrated circuits to be energy-efficient, and creating co-operative solutions to help customers reduce their carbon emissions. Environment-friendly corporate practices reduce business risks, improve reputation, and generate enormous market opportunities in the green technology and sustainability market. In the recent wireless era, numerous devices are using wireless technology in their day-to-day activities; these wireless devices consume a large amount of energy and emit a considerable amount of carbon while being used. Technological companies are presented with an opportunity to not only reduce the energy consumption in these wireless devices but also minimize the amount of carbon emitted by these devices. Technology giants, such as Apple, are helping their manufacturing partners lower their carbon footprint by working along with them to install more than four gigawatts of new clean energy worldwide by 2020.
Challenge:
The adoption of green technology requires a uniform legal framework. Since various products are initially developed in industrialized countries, technology transfer from developed to developing countries is a necessary part of the green technology and sustainability process. In most of the countries, there is no dedicated consigned body to govern these policies; these countries implement regulatory policies based on their regional factors, such as macroeconomic and political risk factors, along with their business requirements. Enterprises have been implementing green technology with the help of IoT, AI, analytics, cloud, and security solutions to better manage business risks and comply with regulations. The varying structure of regulatory policies, along with the changing macroeconomic factors, makes it difficult for vendors to meet the end-user requirements. Some organizations, especially in regions where there are no proper governing and regulatory bodies, tend to implement in-house regulatory guidelines and policies.
Region Insights
North America dominated the green technology and sustainability market in 2021. The large number of market players is operating in the North America green technology and sustainability market. These key market players are highly investing in research and development activities for the development of green technology and sustainability market. In addition, market players are also installing new and advanced technologies which help into carbon control and greenhouse gases emission control. Moreover, rising global warming and pollution is also driving the growth of the green technology and sustainability market in the region.
Europe is expected to develop at the fastest rate during the forecast period. The UK dominates the green technology and sustainability market in Europe region. The government of Europe region is taking immense efforts for the growth and development of the green technology and sustainability market. The favorable government policies in favor of storage of energy and using clean and green energy are driving the growth of green technology and sustainability market in Europe region over the projected period.
Some of the prominent players in the Green Technology and Sustainability Market include:
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
By Component
By Industry
By Technology
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Green Technology and Sustainability Market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Green Technology and Sustainability Market
5.1. COVID-19 Landscape: Green Technology and Sustainability Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Green Technology and Sustainability Market, By Component
8.1. Green Technology and Sustainability Market, by Component Type, 2022-2030
8.1.1. Solutions
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Services
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Green Technology and Sustainability Market, By Industry
9.1. Green Technology and Sustainability Market, by Industry, 2022-2030
9.1.1. Air and water pollution monitoring
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Carbon footprint management
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Crop monitoring
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Fire detection
9.1.4.1. Market Revenue and Forecast (2017-2030)
9.1.5. Forest monitoring
9.1.5.1. Market Revenue and Forecast (2017-2030)
9.1.6. Green building
9.1.6.1. Market Revenue and Forecast (2017-2030)
9.1.7. Soil condition/moisture monitoring
9.1.7.1. Market Revenue and Forecast (2017-2030)
9.1.8. Sustainable mining and exploration
9.1.8.1. Market Revenue and Forecast (2017-2030)
9.1.9. Weather monitoring and forecasting
9.1.9.1. Market Revenue and Forecast (2017-2030)
9.1.10. Water management
9.1.10.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Green Technology and Sustainability Market, By Technology
10.1. Green Technology and Sustainability Market, by Distribution Channel, 2022-2030
10.1.1. Internet of Things (IoT)
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Cloud Computing
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Artificial Intelligence & Analytics
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Digital Twin
10.1.4.1. Market Revenue and Forecast (2017-2030)
10.1.5. Cybersecurity
10.1.5.1. Market Revenue and Forecast (2017-2030)
10.1.6. Blockchain
10.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Green Technology and Sustainability Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Component (2017-2030)
11.1.2. Market Revenue and Forecast, by Industry (2017-2030)
11.1.3. Market Revenue and Forecast, by Technology(2017-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.1.4.2. Market Revenue and Forecast, by Industry (2017-2030)
11.1.4.3. Market Revenue and Forecast, by Technology(2017-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Industry (2017-2030)
11.1.5.3. Market Revenue and Forecast, by Technology(2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.2. Market Revenue and Forecast, by Industry (2017-2030)
11.2.3. Market Revenue and Forecast, by Technology(2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.4.2. Market Revenue and Forecast, by Industry (2017-2030)
11.2.4.3. Market Revenue and Forecast, by Technology(2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Industry (2017-2030)
11.2.5.3. Market Revenue and Forecast, by Technology(2017-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Industry (2017-2030)
11.2.6.3. Market Revenue and Forecast, by Technology(2017-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Component (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Industry (2017-2030)
11.2.7.3. Market Revenue and Forecast, by Technology(2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.2. Market Revenue and Forecast, by Industry (2017-2030)
11.3.3. Market Revenue and Forecast, by Technology(2017-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.4.2. Market Revenue and Forecast, by Industry (2017-2030)
11.3.4.3. Market Revenue and Forecast, by Technology(2017-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Industry (2017-2030)
11.3.5.3. Market Revenue and Forecast, by Technology(2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Industry (2017-2030)
11.3.6.3. Market Revenue and Forecast, by Technology(2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Component (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Industry (2017-2030)
11.3.7.3. Market Revenue and Forecast, by Technology(2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.2. Market Revenue and Forecast, by Industry (2017-2030)
11.4.3. Market Revenue and Forecast, by Technology(2017-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.4.2. Market Revenue and Forecast, by Industry (2017-2030)
11.4.4.3. Market Revenue and Forecast, by Technology(2017-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Industry (2017-2030)
11.4.5.3. Market Revenue and Forecast, by Technology(2017-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Industry (2017-2030)
11.4.6.3. Market Revenue and Forecast, by Technology(2017-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Component (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Industry (2017-2030)
11.4.7.3. Market Revenue and Forecast, by Technology(2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.5.2. Market Revenue and Forecast, by Industry (2017-2030)
11.5.3. Market Revenue and Forecast, by Technology(2017-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Component (2017-2030)
11.5.4.2. Market Revenue and Forecast, by Industry (2017-2030)
11.5.4.3. Market Revenue and Forecast, by Technology(2017-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Component (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Industry (2017-2030)
11.5.5.3. Market Revenue and Forecast, by Technology(2017-2030)
Chapter 12. Company Profiles
12.1. General Electric Company
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Enablon
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Salesforce.com Inc
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Microsoft Corporation
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Schneider Electric
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Engie Impact
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Sensus
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Enviance
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Intelex Technologies Inc.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. CropX Inc.
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers