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Green Technology and Sustainability Market to Reach USD 61.92 billion by 2030; Growing Adoption of Green Data Centers to Expand Market Size

April 27, 2023 | Information & Technology

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.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/green-technology-and-sustainability-market-102221


Competitive Landscape


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:



  • April 2021 - Salesforce.com, Inc., a reputed technology firm, introduced Sustainability Cloud Scope 3 Hub as a part of its new climate commitments. The company’s customers will be allowed to monitor Scope 3’s emissions, or supply chain emissions, such as those from business travels and imported products, through Sustainability Cloud. These emissions typically make up a vast majority of a company's carbon footprint.


List of the Companies Profiled in the Report:



  • General Electric Company (U.S.)

  • Enablon (Wolters Kluwer) (Europe)

  • Salesforce.com, Inc. (U.S.)

  • Microsoft Corporation (U.S.)

  • Schneider Electric (France)

  • Engie Impact (U.S.)

  • Sensus (U.S.)

  • Enviance (U.S.)

  • Intelex Technologies Inc. (Canada)

  • Accuvio (U.S.)


Further Report Findings



  • North America is anticipated to capture a dominant share in the global market during the forecast timeframe. The region's growth is driven by the presence of top market players, such as Microsoft Corporation, GE Electric, IBM Corporation, Oracle Corporation, Engie Impact, CropX Inc., and Taranis.

  • Europe is predicted to capture the second-largest share in the global market. A wide range of government initiatives to showcase innovations in low-carbon technologies are expected to accelerate the market growth. For example, in July 2020, the European Commission (EC) proposed an investment under its ‘Innovation Fund’ initiative for market-ready projects including clean hydrogen and low-carbon solutions for sectors that are heavily dependent on energy, such as chemicals, cement, and steel.

  • The solutions segment is projected to account for a large market share during the forecast period. Green technology and sustainability solutions typically offer users real-time statistics, management services, charting & monitoring tools, and other tools and solutions. This also includes environmental monitoring and renewable energy solutions that can assist customers in the development of strong and reliable green infrastructure and can further help create a healthy environment.


Table of Segmentation






























































  ATTRIBUTE



  DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 20.8% from 2023 to 2030



Unit



Value (USD billion)



Segmentation



By Component, By Deployment, By Enterprise Type, By Application, and Region



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



By Region




  • North America (By Component, By Deployment, By Enterprise Type, By Application, and By Country)

    • U.S.

    • Canada

    • Mexico



  • South America (By Component, By Deployment, By Enterprise Type, By Application,  and By Country)

    • Brazil

    • Argentina

    • Rest of South America



  • Europe (By Component, By Deployment, By Enterprise Type, By Application, and By Country)

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

    • Benelux

    • Nordics

    • Rest of Europe



  • Middle East & Africa (By Component, By Deployment, By Enterprise Type, By Application, and By Country)

    • Turkey

    • Israel

    • GCC

    • North Africa

    • South Africa

    • Rest of MEA



  • Asia Pacific (By Component, By Deployment, By Enterprise Type, By Application, and By Country)

    • China

    • India

    • Japan

    • South Korea

    • ASEAN

    • Oceania

    • Rest of Asia Pacific




Global Green Technology and Sustainability Market
  • PDF
  • 2022
  • 2019-2021
  • 160

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