The market for green technology and sustainability solutions is growing rapidly, fueled by increasing adoption rates across industries. From IoT-enabled resource management to cloud-based collaboration, companies use sustainable practices to reduce their carbon footprint and increase efficiency.
BOSTON, May 6, 2024 /PRNewswire/ — According to the latest BCC Research study, the demand for Green Technologies and Sustainability Solutions: Global Market will reach $47.8 billion by the end of 2028, at a compound annual growth rate (CAGR) of 19.3% during the forecast period.
This report provides a comprehensive analysis of the global green technology and sustainability market, segmented by technology type, industry, and geography. The report provides forecasted market data from 2023 to 2028, with 2022 as the base year. The revenue forecast for the period features various segments that provide insight into market trends and growth trends. The market includes solutions and services designed to reduce maintenance costs, monitor ESG and EHS parameters, and achieve a zero-carbon footprint. Advanced technologies combined with software solutions enable companies to monitor, predict, and analyze operations to reduce their carbon footprint. Notably, the report omits hardware components such as wind turbines, solar panels, and electric vehicles, focusing instead on software-driven solutions. It explores user segments across geographies and highlights key trends, challenges, and the vendor landscape. The report provides a comprehensive outlook of the global green technology market through forecasts and estimates that outline its expected growth trajectory through 2028.
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Key Drivers of Green Technologies and Sustainability Solutions: Global Market
Growing Support from Large Organizations and Associations: Major corporations, industry groups, and global organizations are realizing the importance of going green. They actively promote and invest in environmentally friendly technologies to reduce environmental impact. Working together, they drive innovation and spread sustainable practices around the world.
Increase in Environmental Awareness: More people are aware of the threats of climate change, pollution, and resource depletion. Societies, businesses, and individuals are starting to think more about their impact on the planet. Education and advocacy help spread the word and encourage environmentally friendly behavior.
Reduction in Carbon Emissions Due to Green Technology Adoption: Switching to green technologies such as solar, wind, and electric vehicles can help reduce carbon emissions. Governments support this shift with incentives such as subsidies and tax breaks. By introducing cleaner energy and transportation options, we are moving towards a healthier and more sustainable future.
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Report Synopsis
|
Report Metrics |
Details |
|
Base year considered |
2022 |
|
Forecast Period considered |
2023-2028 |
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Base year market size |
$16.2 billion |
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Market Size Forecast |
$47.8 billion |
|
Growth Rate |
CAGR of 19.3% for the forecast period of 2023-2028 |
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Segment Covered |
Technology, Industry, and Region |
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Regions covered |
Americas, Europe, Asia-Pacific, and Middle East and Africa |
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Key Market Drivers |
• Growing support from large organizations and associations. • Increase in environmental awareness. • Reduction in carbon emissions due to the adoption of green technology. |
Segmentation Analysis:
- By Technology Type: IoT enables real-time resource management. Digital Twin optimizes asset performance. Cloud Computing reduces infrastructure needs. Blockchain ensures transparent transactions.
- By Industry: Green Building promotes eco-friendly construction. Carbon Footprint Management tracks emissions. Water Leak Detection conserves water.
- By Region: Europe, North America, and Asia-Pacific lead in green tech. Developing countries are catching up.
This global Green Technology and Sustainability Solutions Market report provides comprehensive information and analysis addressing the following key questions:
- What is the global green technology market’s projected market size and growth rate?
The global market for green tech and sustainability was estimated to be worth $16.2 billion in 2022. The market is projected to grow at a compound annual growth rate (CAGR) of 19.3%. - What are the key factors driving the growth of the global green technology market?
Growing environmental awareness regarding the reduction of greenhouse gas emissions and initiatives taken by large associations and organizations are major factors driving the green tech market. - What segments are covered in the global green technology market?
The global green tech and sustainability market is segmented based on technology type, industry and geography. - By technology type, which segment will dominate the market by the end of 2028?
By technology, green cloud computing is expected to dominate the overall market. - Which region has the highest market share in the global green technology market?
The Americas region dominated the global green technology and sustainability with more than 55% of the market share.
Some of the Key Market Players Are:
- General Electric
- Intelex Technologies
- Enablon Wolters Kluwer
- Salesforce
- Cority
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