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The global green technology and sustainability market size touched USD 13.76 billion in 2022 and is predicted to reach USD 16.50 billion in 2023. The market is anticipated to touch USD 61.92 billion by 2030, recording a CAGR of 20.8% over 2023-2030.
Fortune Business Insights™ presents this information in its latest report titled “Green Technology and Sustainability Market Size, Share & COVID-19 Impact Analysis, By Component (Solutions, Services), By Deployment (Cloud, On-premise), By Enterprise Type (Large Enterprise, SMEs), By Application (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, Others), and Regional Forecast, 2023-2030”.
Green technology and sustainability solutions are being deployed in various applications, such as green building, crop monitoring, carbon footprint management, and air & water pollution monitoring. This market is predicted to grow rapidly in the future as domestic and international venture capitalists are increasing their investments in R&D programs, which will play a vital role in encouraging innovations in the market.
Post-Pandemic Period to Witness Growth in Climate-tech Ventures
The initial stages of the COVID-19 pandemic had a negative impact on climate-related investments due to the global slump in economic activity. This stifled the global green technology and sustainability market growth for a short time. However, the post-pandemic period witnessed a notable increase in climate-tech investments due to resurgence in business operations. After overcoming the COVID-19 crisis, companies may intensify their efforts to reduce their carbon emissions, thereby expanding the market size.
Establishment of Green Data Centers to Rise to Boost Energy Efficiency
The concept of green data centers is picking significant pace in the IT sector. Green data centers, or sustainable data centers, are service facilities that utilize energy-efficient technologies to manage, operate, and store data. The 2020 U.S. Data Center Energy Use Report stated that data centers in the U.S. were estimated to consume around 73 billion kWh of electricity in 2020. Such large-scale consumption of electricity is anticipated to augment the construction of green data centers, thereby expanding the green technology and sustainability market share.
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Key Players to Create Innovative Green Technology and Sustainability Solutions to Expand Market Presence
Leading companies, such as General Electric Company, Enablon, Salesforce.com, Inc., Microsoft Corporation, Schneider Electric, and Engie Impact, among others, are introducing a wide range of green technology and sustainability solutions that are equipped with innovative technologies. Also, these reputed market players are expected to make heavy investments in green bonds.
Notable Industry Development:
List of the Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
CAGR of 20.8% from 2023 to 2030
Value (USD billion)
By Component, By Deployment, By Enterprise Type, By Application, and Region
By Enterprise Type