Green Technology and Sustainability Industry Overview
The global green technology and sustainability market size was valued at USD 13.28 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 22.4% from 2022 to 2030. The industry is expected to grow as environmental awareness and concern about global warming rise among organizations and individuals. Green technology uses various forms of sustainable energy to safeguard the environment. Solar panels, LED lighting, wind energy, vertical farming, electric vehicles, and composting are a few examples of green technologies.
Furthermore, several countries worldwide employ green technologies to manage and recycle waste from industry and households. Green technology also aids enterprises in reducing emissions, conserving water, reducing waste, and using less energy than traditional technology. These advantages of sustainable technology have a substantial impact on its global adoption.
Gather more insights about the market drivers, restraints, and growth of the Global Green Technology and Sustainability Market
Nations worldwide are focusing on technological improvements to deliver more sustainable solutions. With the ongoing conflict in Ukraine, the EU aims to speed up its green transition to lessen its reliance on Russian fossil resources. For instance, the European Commission is expected to propose a new legislative package to increase renewable energy use and energy savings, albeit it will continue to rely on gas imported from other nations. It will also shorten the license processing time for renewable energy projects, which will not exceed one year.
Solar and wind farms bear a high capital cost of construction and installation. On the contrary, solar and wind farms are inexpensive because their fuel is free and maintenance is minimal; thus, most of the money is spent on developing technology-based products or solutions. Carbon footprint management, air quality monitoring, and air and water pollution monitoring are just a few applications where cutting-edge technologies like Internet of Things (IoT) sensors and analytics need significant maintenance costs.
Browse through Grand View Research's Next Generation Technologies Industry Related Reports
Vertical Farming Market - The global vertical farming market size was valued at USD 5,894.4 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 20.1% from 2023 to 2030.
Smart Glass Market - The global smart glass market size was valued at USD 5.13 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.3% from 2022 to 2030.
Green Technology and Sustainability Market Segmentation
Grand View Research has segmented the global green technology & sustainability market based on component, technology, application, and region:
Green Technology And Sustainability Component Outlook (Revenue, USD Million, 2017 - 2030)
- Solution
- Services
Green Technology And Sustainability Technology Outlook (Revenue, USD Million, 2017 - 2030)
- IoT
- AI and Analytics
- Digital Twin
- Cloud Computing
- Blockchain
- Others
Green Technology And Sustainability Application Outlook (Revenue, USD Million, 2017 - 2030)
- Green Building
- Carbon Footprint Management
- Air and Water Pollution Monitoring
- Weather Monitoring and Forecasting
- Fire Detection
- Crop Monitoring
- Soil Condition/ Moisture Monitoring
- Forest Monitoring
- Sustainable Mining and Exploration
- Others
Green Technology and Sustainability Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Market Share Insights:
May 2022: MetaVerse Green Exchange and Red Dot Analytics are partnering to launch carbon-neutral data center operations powered by AI and blockchain. The partnership will assess and mitigate the carbon footprint of data centers in tropical areas, ensuring that data center operations are sustainable in the future.
May 2022: Bio Town Ag and lenders partnered with Green Rock Energy Partners LLC and acquired a share in Bio Town Biogas LLC, a renewable energy producer venturing into sustainable natural gas. The company aims to upgrade one of the largest and most cost-effective renewable natural gas and energy projects worldwide.
Key Companies profiled:
Some prominent players in the global Green Technology and Sustainability market include
- General Electric
- Wolters Kluwer N.V.
- Salesforce, Inc.
- Microsoft
- Schneider Electric
- Engie Impact
- Cority (Enviance)
- Sensus, a Xylem brand
- LO3 Energy
- CropX Inc.
Order a free sample PDF of the Green Technology and Sustainability Market Intelligence Study, published by Grand View Research.
No comments:
Post a Comment