Green Technology & Sustainability Market To Reach $79.65 Billion By 2030

Green Technology & Sustainability Market Growth & Trends

The global green technology & sustainability market size is expected to reach USD 79.65 billion in 2030 and is projected to grow at a CAGR of 22.9% from 2024 to 2030. The expanding consumer and industrial interest in using clean energy resources to save the environment and the increased use of RFID sensors across industries drive the market adoption of green technology and sustainability solutions and services.

For instance, in July 2023, Omar Mitchell, vice president of the National Hockey League (NHL), discussed the NHL's focus on environment control and the role of technology in managing and understanding the organization's carbon footprint. To address this issue, the NHL has collaborated with SAP to create a digital platform that gathers and processes data from every club. SAP-NHL coaching insights mobile app was created to provide coaches with real-time game and player data. Furthermore, the market opportunity depends on increasing favorable private and government activities to combat climate change and air pollution.

The green technology and sustainability market is expanding as people become more environmentally conscious and concerned about global warming. Furthermore, the deployment of RFID sensors that reduce carbon emissions and the rise in interest in clean energy resources are expected to propel growth in the coming years. Green technology and sustainability solutions are expected to have a high product and solution pricing, limiting market growth to some extent. However, an increase in beneficial government and private actions to address climate change and air pollution is advantageous for the industry.

The green technology and sustainability industry has grown rapidly in recent years; however, due to the COVID-19 pandemic, the market witnessed a slight decline in 2020.This was due to governments in most countries imposing a state of emergency and shutting down numerous solar and wind power projects around the world. As a result of strict social distancing measures, even the installation of modest solar panels in homes and other industrial projects was prohibited. Various green technology solution suppliers around the world, on the other hand, are launching new strategies and business plans to stay afloat and increase their market worth.

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Green Technology & Sustainability Market Report Highlights

• The solution segment dominated the market and held the largest revenue of 67.8% in 2023

• The IoT segment held the largest revenue share of the global green technology and sustainability market in 2023

• The green building segment dominated the market in 2023. Green building, also known as sustainable building, is designing and implementing processes and structures that are environmentally resource-efficient and responsible throughout the life cycle, from site selection to design, maintenance, construction, operation, renovation, and deconstruction

• North America dominated the green technology & sustainability market with a revenue share of 38.7% in 2023

Green Technology & Sustainability Market Segmentation

Grand View Research has segmented the global green technology & sustainability market report based on component, technology, application, and region:

Green Technology & Sustainability Component Outlook (Revenue, USD Million, 2018 - 2030)

• Solution

• Services

  • Consulting

  • Integration and Deployment

  • Support and Maintenance

Green Technology & Sustainability Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Internet of Things (IoT)

• AI and analytics

• Digital twin

• Cloud computing

• Blockchain

• Others

Green Technology & Sustainability Application Outlook (Revenue, USD Million, 2018 - 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 explorationOthers

Green Technology & Sustainability Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • Japan

  • China

  • India

• Latin America

  • Brazil

List of Key Players in Green Technology & Sustainability Market

• Cority

• CropX inc.

• ENGIE Impact

• General Electric Company

• Lo3 Energy

• Microsoft

• Salesforce, Inc.

• Schneider Electric

• Xylem

• Wolters Kluwer N.V.