Pune, India, Aug 24, 2022 (GLOBE NEWSWIRE) — Green technology and sustainability market size is expected to grow from US$13.76 billion in 2022 to US$51.09 billion by 2029, growing at CAGR during the forecast period. is 20.6%. 2022-2029 This key piece of information is presented by Fortune Business Insights™ in a report titled ‘Green Technology and Sustainability Markets, 2022-2029’. The global green technology and sustainability market size is valued at US$11.49 billion by 2021.
Green Technology and Sustainability are services and solutions deployed across carbon footprint management, water pollution monitoring, air pollution monitoring, crop monitoring and green buildings. Demand for solutions is expected to increase due to the increasing carbon footprint worldwide. Moreover, increasing government interest in developing a decarbonized economy is likely to boost the industry’s progress in the coming years.
competitive environment
Players form partnerships to strengthen their market position
Prominent companies operating in the market have formed partnerships to strengthen their market positions. For example, CropX Inc. has entered into a strategic partnership with the NASA Harvest Food Security and Agriculture Program in March 2021. This development could help the company attract consumers and enhance its market position. In addition, expansions, mergers, acquisitions, product launches, and incorporation of advanced technologies can boost annual revenues for manufacturers.
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Report scope and segmentation
| report coverage | detail |
| Forecast period | 2022-2029 |
| Forecast period 2022-2029 CAGR | 20.6% |
| 2029 value forecast | US$51.09 billion |
| base year | 2021 |
| Green Technology and Sustainability Market Size in 2021 | US$11.49 billion |
| historical data of | 2018-2020 |
| page number | 160 |
| Target segment | Ingredient; Industry; Region |
| Green Technology and Sustainability Market Growth Drivers | Increased adoption of green data centers to expand market size |
| High costs associated with green technology and sustainability solutions restricting market growth |
Increasing Adoption of Electric Vehicles to Fuel Market Development
This market is likely to be positively impacted due to increased adoption of electric vehicles during the COVID-19 pandemic. The resumption of activity is expected to create reward opportunities in the market. Additionally, sharp increases in fuel prices and rising pollution levels have led to the adoption of alternative, non-polluting solutions. Moreover, increasing global electrification trend is expected to drive the market growth during the pandemic.
Click here to see the short-term and long-term impact of COVID-19 on this market. https://www.fortunebusinessinsights.com/green-technology-and-sustainability-market-102221
drivers and restraints
Increasing adoption of green data centers to boost market development
Increased adoption of green data centers and cloud services for pollution monitoring is expected to boost adoption. Additionally, the adoption of data centers for data management and storage can encourage investment in green technology. In addition, growing interest from industry and consumers is expected to boost the adoption of green technologies and sustainability. Also, rising greenhouse gas emissions are expected to attract investment in developing a sustainable green economy. Moreover, increasing government initiatives to achieve zero emissions are likely to drive the growth of the green technology and sustainability market.
However, high costs associated with implementing services are expected to hamper market progress.
Regional Insight
Wide range of environmental technology vendors to support growth in North America
North America is projected to dominate the green technology and sustainability market share due to the presence of a wide range of green technologies. The North American market is expected to reach US$4.19 billion in 2021, with positive growth in the coming years. Additionally, key market players are planning to expand their operations across the globe, which could boost the growth of the industry.
In Europe, increasing government initiatives to demonstrate low-carbon technologies could strengthen sales of green tech and sustainability. Moreover, growing support for grid solutions, carbon capture and storage, and energy storage is expected to boost the market development.
In Asia-Pacific, rapid transition to a renewable energy future in India, Japan, Taiwan, China, and South Korea is expected to boost industry growth. These factors are likely to drive progress in green technologies and the sustainability industry.
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segment
By component, the market is divided into services and solutions. Categorized by industry into air and water pollution monitoring, carbon footprint management, crop monitoring, fire detection, green building, soil condition/moisture monitoring, sustainable mining and exploration, water management, weather monitoring and forecasting, and more. will be Regionally, it is clubbed into North America, South America, Europe, Asia Pacific, Middle East and Africa.
report coverage
This report provides an in-depth analysis of the top segments of the market and the latest developments. Comprehensive discussion of the drivers and restraints and the impact of COVID-19 on the market. In addition, it examines regional developments and strategies undertaken by key players in the market.
Development of major industries
April 2021: General Electric has pledged to supply renewable energy to approximately 42 onshore wind turbines to develop the CleanMax wind hybrid project in India. This renewable energy is expected to total around 110MW.
List of major players mentioned in the report:
- General Electric Company (USA)
- Enablon (Wolters Kluwer) (Europe)
- Salesforce.com, Inc. (United States)
- Microsoft Corporation (USA)
- Schneider Electric (France)
- Engie Impact (USA)
- Census (US)
- Enviance (USA)
- Intelex Technologies Inc. (Canada)
- CropX Inc. (California)
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Main table of contents:
- Global Green Technology and Sustainability Market Share Estimates and Forecasts, By Segment, 2018-2029
- Main findings
- By Component (USD)
- Industry (USD)
- Air and water pollution monitoring
- Carbon footprint management
- crop monitoring
- fire detection
- forest monitoring
- green building
- Soil condition/moisture monitoring
- sustainable mining and exploration
- water management
- Weather monitoring and forecasting
- other
- By Region (USD)
- North America
- Europe
- Middle East and Africa
- Asia Pacific
- South America
- North America Green Technology and Sustainability Market Share Estimates and Forecasts, By Segment, 2018-2029
- Main findings
- By Component (USD)
- Industry (USD)
- Air and water pollution monitoring
- Carbon footprint management
- crop monitoring
- fire detection
- forest monitoring
- green building
- Soil condition/moisture monitoring
- sustainable mining and exploration
- water management
- Weather monitoring and forecasting
- other
- By Country (USD)
- America
- Canada
- Mexico
- Europe Green Technology and Sustainability Market Share Estimates and Forecasts, By Segment, 2018-2029
- Main findings
- By Component (USD)
- Industry (USD)
- Air and water pollution monitoring
- Carbon footprint management
- crop monitoring
- fire detection
- forest monitoring
- green building
- Soil condition/moisture monitoring
- sustainable mining and exploration
- water management
- Weather monitoring and forecasting
- other
- By Country (USD)
- England
- Germany
- France
- Italy
- Spain
- Russia
- Benelux
- nordic
- rest of europe
- Asia-Pacific Green Technology and Sustainability Market Share Estimates and Forecasts, By Segment, 2018-2029
- Main findings
- By Component (USD)
- Industry (USD)
- Air and water pollution monitoring
- Carbon footprint management
- crop monitoring
- fire detection
- forest monitoring
- green building
- Soil condition/moisture monitoring
- sustainable mining and exploration
- water management
- Weather monitoring and forecasting
- other
- By Country (USD)
- China
- India
- Japan
- Korea
- ASEAN
- Oceania
- Rest of Asia Pacific
TOC continues…!
Frequently Asked Questions:
How big is the green technology and sustainability market?
The market is projected to grow from USD 13.76 billion in 2022 to USD 51.09 billion by 2029, at a CAGR of 20.6% during the forecast period.
How big is the North American green technology and sustainability market?
The North American market is expected to reach USD 4.19 billion in 2021 and capture the majority of the market share in the coming years.
about us:
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