Green Technology and Sustainability Market, Size, Share, By Technology (Internet of Things (IoT), Cloud Computing, Artificial Intelligence and Analytics, Digital Twin, Cyber Security, and Blockchain), By Applications (Green Building, Carbon Footprint Management, Weather Monitoring and Forecasting, Air and Water Pollution Monitoring, Forest Monitoring, Crop Monitoring, Soil Condition/Moisture Monitoring, Water Purification, and Others), and By Region - Trends, Analysis and Forecast till 2034

Green Technology and Sustainability Market was valued at USD 22.2 Billion in 2024 and is projected to grow at a CAGR of 20.0% to reach USD 117.2 Billion by 2034

Green technology is the use of science and technology to produce goods and services that are less harmful to the environment. It is also known as cleantech or environmental technology. Repairing existing damage and fostering regeneration are equally important goals of green technology, in addition to minimising ongoing environmental impact. Green technology includes all actions taken to support sustainable resource use of Earth's natural resources and environmental restoration.

In addition to reducing carbon emissions and conserving natural resources, green technologies—from solar panels to sophisticated waste management systems—seek to replace conventional methods with more sustainable ones. Additionally, they can produce regenerative solutions that can restore and maintain our ecological balance, going beyond simple mitigation to promote a robust and flourishing environment.

As corporate and individual worries about global warming and environmental awareness grow, the business is predicted to expand. Green technology employs diverse sustainable energy sources to protect the ecosystem. A few instances of green technology are composting, solar power, LED lighting, wind energy, vertical farming, and electric automobiles.

The primary factors propelling the market expansion are the growing environmental consciousness among consumers and the government's initiatives to cut down on carbon emissions and waste production. However, the biggest obstacles to the target market's expansion are the high initial investment costs and low level of awareness surrounding such solutions.

Green Technology and Sustainability Market Drivers:

Society's increasing understanding of ecological problems   

• As consumers' awareness of the environment has grown, so has the desire for more environmentally friendly or less harmful products. The government's efforts to reduce waste output and carbon footprint are the main drivers of the market's growth over the projected timeframe. Customers have a strong desire for environmentally friendly products. Consequently, enterprises started utilizing green manufacturing to create products and services. Within its limitations, innovative technology enables green IT while safeguarding the environment.

Improvements in Technology  

• Owing to the quick advancement of technology, sustainable alternatives are becoming increasingly efficient and affordable. Energy-efficient gadgets, electric cars, renewable energy sources, and sustainable farming practices are increasing the accessibility and desirability of sustainable technologies for both consumers and corporations.

Green Technology and Sustainability Market Restrains:

Large upfront investment costs and a dearth of knowledge concerning these approaches

• However, the main barriers to the target market's expansion are the high initial investment costs and low level of knowledge surrounding such solutions. When implementing green technology, it is frequently necessary to make large initial purchases in software, hardware, and infrastructure. This might be a hindrance for small and medium-sized enterprises with tight budgets. Furthermore, not all companies and customers know the financial savings and long-term advantages of green technologies. These problems would hinder the target market's progress in the long run.

Green Technology and Sustainability Market Opportunities:

• Undoubtedly, revolutionary trends and exciting new advancements will shape technology's future, which will be green. Green technology's ultimate goal is to become the cornerstone of all technical progress rather than just a specialized profession. Modern green technology includes diverse cutting-edge technologies, ranging from recycling and waste management systems to renewable energy sources like solar and wind power. Demand for green technology is rising with the growing public awareness of environmental challenges. These innovations could change whole sectors of the economy, open up new job markets, and make the world a more environmentally friendly and sustainable place.

Green Technology and Sustainability Market is segmented based on technology, application, and region.

Technology Insights

• Internet of Things (IoT): A sizable portion of worldwide sales came from the IoT segment, which dominated the industry. Green networks introduced through loT connections are the main factor propelling the lot technology market's growth.
• Cloud Computing: This technology type provides scalable computational power and data storage for ecological data analysis and environmental strategy optimization.
• Artificial Intelligence and Analytics: In artificial intelligence (AI) and analytics, large-scale statistics are analyzed using AI to spot patterns, forecast environmental effects, and maximize resource utilization.
• Digital Twin: A "digital twin" technology builds virtual representations of real systems to simulate and improve sustainability and energy consumption.
• Cyber Security: Protecting sensitive environmental data that green technologies collect is largely made possible by cyber security.
• Blockchain: The market size for blockchain technology is expected to be considerable over the projected time. The cloud's capacity to offer real-time remote access to data via sensors, satellite images, and weather data is a factor in this increase.

Application Insights

• Green Building: The green building segment contributed a significant portion of global revenue to the industry. Green building, which is sometimes referred to as sustainable building, involves creating and executing environmentally conscious and resource-efficient processes and structures at every stage of their life cycle—from site selection to design, construction, operation, refurbishment, and deconstruction.
• Carbon Footprint Management: The instruments used in Carbon Footprint Management monitor and lower greenhouse gas emissions from all aspects of an organization's operations.
• Weather Monitoring and Forecasting: The application type of weather monitoring and forecasting uses sophisticated meteorological data to inform renewable energy production and disaster preparedness.
• Air and Water Pollution Monitoring: The application category for monitoring air and water pollution comprises sensors that measure pollution levels and allow for focused mitigation techniques.
• Forest Monitoring: Utilizing these tools, the Forest Monitoring category tracks the health of the forest over a specific period and detects deforestation.
• Crop Monitoring: One of the fastest-expanding markets for green technology and sustainability is crop monitoring. Agriculture companies and food corporations alike must have access to data and information on various crops. Pesticide use is reduced due to green technologies in crop monitoring.
• Soil Condition/Moisture Monitoring: Soil state and moisture measurement enable precision irrigation and optimal water utilization in farmlands.
• Water Purification: Green technologies are used in the application type of water purification to produce safe drinking water and wastewater treatment alternatives.
• Others: The market's "others" category includes other applications such as sustainable waste handling and noise pollution control.

Green Technology and Sustainability Market Regional Insights

• North America market is estimated to witness a significantly high revenue share over the forecast period and can be linked to the increase in investments and green environment initiatives. The North American market for sustainability and green technology is crowded with competitors. To develop the target market, these major market players are heavily investing in research and development. Additionally, companies in the market are implementing cutting-edge technologies that aid in reducing greenhouse gas emissions and carbon emissions.
• Asia Pacific market is estimated to witness the fastest revenue share because of their swift economic development, particularly in China and India, where the latter is emphasizing the use of new technologies to enhance corporate operations. Various degrees of support have also been from these countries' governments for developing low-carbon, renewable energy policies.
• The European market is expanding steadily due to prominent government initiatives that showcase the innovative nature of low-carbon technologies. The demand for green technology and sustainability in the European region is expected to develop throughout the forecast period due to the government's supportive policies regarding energy storage and the use of clean, green energy.
• Latin America is an emerging region because of rising public awareness of environmental issues and the number of government efforts driving market growth.
• The Middle East and Africa market is in its developmental stages and is observing growth due to an increase in expenditures on climate change preparation and alternative energy sources. The industry in this region is being driven even more.

Green Technology and Sustainability Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study segmented the Green Technology and Sustainability Market report based on technology, application, and region:

Green Technology and Sustainability Market, By Technology:

• Internet of Things (IoT)
• Cloud Computing
• Artificial Intelligence and Analytics
• Digital Twin
• Cyber Security
• Blockchain

Green Technology and Sustainability Market, By Application:

• Green Building
• Carbon Footprint Management
• Weather Monitoring and Forecasting
• Air and Water Pollution Monitoring
• Forest Monitoring
• Crop Monitoring
• Soil Condition/Moisture Monitoring
• Water Purification
• Others

Green Technology and Sustainability Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Green Technology and Sustainability Market include GENERAL ELECTRIC, IBM Corporation, Microsoft, Enablon S.A, ENVIANCE, Sensus, Taranis, Trace Genomics, Inc., LO3 Energy, and CONSENSYS.

• In February 2024, Symetri, a division of Addnode Group, a global leader in the supply of design and engineering technology solutions as well as consulting services, introduced the specialized product Navigate Zero. Its goal is to enhance sustainability and energy efficiency in the manufacturing and AECO sectors. With the help of the ground-breaking Navigate Zero add-on package for Autodesk Revit, engineers, and designers can utilize the platform to compute emissions, make environmentally responsible decisions, and apply the data to complete lifetime evaluations. This is consistent with the business's longstanding commitment to sustainability.
• In August 2023, Hitachi Energy Ltd. revealed a contract with Google Cloud. The purpose of the agreement is to collaborate and jointly develop a variety of cloud software services and solutions to aid in the global energy transition. The first product of this partnership is Hitachi Energy's new API-based application, Velocity Suite Power Prices, which will give customers worldwide easy access to energy market data for the North American market.

• GENERAL ELECTRIC *
• IBM Corporation
• Microsoft
• Enablon S.A
• ENVIANCE
• Sensus
• Taranis
• Trace Genomics Inc.
• LO3 Energy
• CONSENSYS