The green technology and sustainability global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Green Technology and Sustainability Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The green technology and sustainability market size has grown exponentially in recent years. It will grow from $15.28 billion in 2023 to $19.19 billion in 2024 at a compound annual growth rate (CAGR) of 25.6%. The growth in the historic period can be attributed to investment and funding, renewable energy expansion, corporate sustainability initiatives, waste management solutions, energy efficiency programs, urbanization and sustainable infrastructure.
The green technology and sustainability market size is expected to see exponential growth in the next few years. It will grow to $44.55 billion in 2028 at a compound annual growth rate (CAGR) of 23.4%. The growth in the forecast period can be attributed to consumer demand for sustainability, energy efficiency improvements, circular economy adoption, corporate sustainability commitments, climate change concerns. Major trends in the forecast period include climate change mitigation, investment in r&d, corporate sustainability commitments, circular economy initiatives, urban sustainability.
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Scope Of Green Technology and Sustainability Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Green Technology and Sustainability Market Overview
Market Drivers –
The exponential rise in fuel prices and increasing pollution levels are expected to propel green technology and sustainability market growth going forward. The rise in fuel prices refers to the surge in gasoline prices in the international market. Pollution is caused by many human activities, including using fossil fuels by industry and transportation and using synthetic fertilizers and pesticides in agriculture. Due to such reason, there is an increase in demand for green technology and sustainability to harness natural energy using solar panels, wind turbines, dams, and geothermal wells, among other things. For instance, in January 2022, according to US department of energy, a government department in US, retail gasoline prices rose across the United States. The retail price of standard-grade gasoline ranged from $2.67/gal on the Gulf Coast to $3.70/gal on the West Coast in 2021. Therefore, the exponential rise in fuel prices and growing pollution levels will drive the green technology and sustainability market.
Market Trends –
Technological advancements and the adoption of innovative technologies are the key trends gaining popularity in the green technology and sustainability market. Many players are investing heavily in technical improvements to deliver sustainable solutions and lessen their reliance on fossil resources. For instance, in November 2022, ABB Ltd., a Switzerland-based electrification and automation company, launched ABB Ability OPTIMAX, an energy management system for green hydrogen. This management system will assist hydrogen manufacturing companies in reducing electricity-related expenditures by up to 20%. It incorporates forecasting and intra-day planning and ensures that businesses can trade competitively with the grid.
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
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Regional Insights –
North America was the largest region in the green technology and sustainability market share in 2023. 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.
Key Companies –
Major companies operating in the green technology and sustainability market report 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.
Table of Contents
- Executive Summary
- Green Technology and Sustainability Market Characteristics
- Green Technology and Sustainability Market Trends And Strategies
- Green Technology and Sustainability Market – Macro Economic Scenario
- Global Green Technology and Sustainability Market Size and Growth
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- Key Mergers And Acquisitions In The Green Technology and Sustainability Market
- Green Technology and Sustainability Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Green Technology and Sustainability Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Green Technology and Sustainability Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Green Technology and Sustainability Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: General Electric Company Financial Performance
Table 75: Intelex Technologies Inc. Financial Performance
Table 76: Microsoft Corporation Financial Performance
Table 77: ConsenSys Financial Performance
Table 78: Salesforce.com Inc. Financial Performance
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