The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The green technology market has seen substantial growth in recent years and is poised for even greater expansion. This blog explores the current market size, future projections, key growth drivers, emerging trends, and significant company activities shaping this dynamic sector.

Market Overview

• Current Market Size: The green technology market was valued at $18.69 billion in 2023.
• Projected Growth: Expected to grow to $23.6 billion in 2024, reflecting a CAGR of 26.3%.
• Future Forecast: Anticipated to reach $61.13 billion by 2028, with a CAGR of 26.8%.

Historical Growth Drivers

• Awareness of Green Technologies: Increased public and corporate awareness of the environmental benefits of green technologies.
• Demand for Biomass Solutions: Growing interest in renewable biomass energy.
• Climate Change Urgency: The pressing need to address climate change drives innovation and adoption.
• Shorter-Term Deployment: Preference for climate tech solutions that are ready for immediate implementation.
• Sustainable Investment: Rising trend towards investing in sustainable and eco-friendly technologies.

Future Growth Catalysts

• Corporate Net-Zero Commitments: Companies are increasingly committing to net-zero emissions, driving demand for green technologies.
• Investments in Green Infrastructure: Emerging economies are focusing on building green infrastructure.
• Environmental Concerns: Heightened concerns about climate change and environmental degradation.
• Industrial and Consumer Awareness: Growing awareness among industries and consumers about sustainable practices.
• Government Initiatives: Policies and incentives promoting the use of green technologies.

Read The Full Green Technology Market Report Here:

https://www.thebusinessresearchcompany.com/report/green-technology-global-market-report

Emerging Trends

• Data Measurement Technologies: Advanced tools for measuring and tracking environmental impact.
• Efficiency Improvements: Technologies aimed at enhancing operational efficiency.
• New Revenue Streams: Innovations that create new business opportunities.
• Performance Monitoring: Systems that provide real-time insights into environmental performance.
• Scalable Solutions: Technologies that offer scalable and profitable solutions.
• Innovation in Climate Tech: Continuous innovation driven by the need to tackle climate challenges.

Sustainable Investing: A Major Growth Driver

Sustainable investing is significantly contributing to the growth of the green technology market:

• ESG Investing: Investments that consider Environmental, Social, and Governance (ESG) factors.
• Financial Returns and Sustainability: Combining financial returns with positive environmental impacts.
• Increased ESG Fund Flows: In 2021, $649 billion was invested in ESG-focused funds, up from $542 billion in 2020, now accounting for 10% of all global fund assets.

Leading Companies in Green Technology

Prominent companies driving innovation in the green technology market include:

• Tech Giants: Alphabet Inc., Microsoft Corporation, Tencent Holdings Limited.
• Energy and Infrastructure: Engie SA, General Electric Company, Schneider Electric SE.
• Software and IT: International Business Machines Corporation, Cisco Systems Inc., SAP SE.
• Others: Salesforce Inc., Adobe Inc., VMware Inc., Intuit Inc., Atos SE, Blackstone Inc., and many more.

Innovations in Green Technology

Major companies are focusing on innovative solutions to support the transition to a sustainable economy:

• Munich Re’s Green Solutions: Launched in May 2023, this portfolio supports net-zero ambitions through green technologies like photovoltaic, wind, carbon capture, and energy storage.
• Intangible Asset Products: Includes offerings like cyber coverage to complement green technology solutions.

Strategic Acquisitions

• Landis+Gyr AG and True Energy A/S: In April 2021, Landis+Gyr AG acquired True Energy A/S to expand its green technology offerings and drive climate-friendly energy solutions.

Market Segmentation

The green technology market is segmented into:

1. By Component: Solutions, Services.
2. By Technology: IoT, Cloud Computing, AI and Analytics, Digital Twin, Cybersecurity, Blockchain.
3. By Applications: Non-Residential, Residential, Other Applications.

Regional Insights

• Largest Market: North America held the largest market share in 2023.
• Fastest Growing Region: Asia-Pacific is expected to lead in growth during the forecast period.

The green technology market is on a robust growth trajectory, driven by technological advancements, sustainable investment trends, and increasing global awareness of environmental issues. As the world continues to prioritize sustainability, the demand for green technologies will only intensify, paving the way for a greener, more sustainable future.

Get A Free Sample On The Global Green Technology Market Report:
https://www.thebusinessresearchcompany.com/sample_request?id=14728&type=smp

The Green Technology Global Market Report 2024  provides an overview of the green technology market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The green technology market forecast analyzes green technology market size, green technology market share, leading competitor and their market positions.

Explore Similar Reports From The Business Research Company:  

Green Logistics Global Market Report 2024

Green Building Global Market Report 2024

Microgreens Global Market Report 2024

Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: