Insights Into The Green Technology And Sustainability Market’s Growth Opportunities Through 2023-2032 – Includes Green Technology And Sustainability Market Forecast
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The exponential rise in fuel prices and increasing pollution levels are expected to drive innovation in green technology and sustainability manufacturing, thus driving the market during the forecast period.
The global green technology and sustainability market is expected to grow from $12.13 billion in 2022 to $15.23 billion in 2023 at a compound annual growth rate (CAGR) of 25.6%. The green technology and sustainability market size is expected to reach $35.84 billion in 2027 at a CAGR of 23.8%.
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Global Green Technology And Sustainability Market Segments Include:
- By Component: Solution, Services
- By Technology: Internet of things (IoT), AI And Analytics, Digital Twin, Cloud Computing, Security, Block-chain
- 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
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global green technology and sustainability market in 2021.
Major Market Players in the green technology and sustainability market include General Electric Company, Intelex Technologies Inc., Microsoft Corporation, ConsenSys, Salesforce Inc., Schneider Electric SE.
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 Global Market Report 2023 provides a green technology and sustainability market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The green technology and sustainability market forecast analyzes green technology and sustainability market size, green technology and sustainability market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Green technology (GT) and sustainability is a term to define innovative ways to make environmentally friendly changes and as an alternative source of technology that reduces fossil fuels and its effect on the human, animal, and plant health. It is used to conserves natural resources and the environment. The green technology process is used to reduce the amount of waste and pollution that are created during production and consumption.
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