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LONDON, GREATER LONDON, UNITED KINGDOM, October 7, 2024 /EINPresswire.com/ -- The green technology and sustainability market has experienced robust growth in recent years, expanding from $15.28 billion in 2023 to $19.19 billion in 2024 at a compound annual growth rate (CAGR) of 25.6%. The growth in the historic period can be attributed to investment and funding, renewable energy expansion, corporate sustainability initiatives, waste management solutions, energy efficiency programs, urbanization and sustainable infrastructure.
What Is The Estimated Market Size Of The Global Green Technology and Sustainability Market And Its Annual Growth Rate?
The green technology and sustainability market is projected to continue its strong growth, reaching $44.55 billion in 2028 at a compound annual growth rate (CAGR) of 23.4%. The growth in the forecast period can be attributed to consumer demand for sustainability, energy efficiency improvements, circular economy adoption, corporate sustainability commitments, climate change concerns.
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Growth Driver Of The Green Technology and Sustainability Market
The rising demand for eco-friendly products is expected to propel the growth of the green technology and sustainability market in the coming years. Eco-friendly product, or green products, are created, designed, and utilized in a way that has a low environmental effect. Eco-friendly items are essential in green technology since they contribute to sustainable practices and reduce the environmental effects of various activities.
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Which Market Players Are Steering The Green Technology and Sustainability Market Growth?
Key players in the market include General Electric Company, Intelex Technologies Inc., Microsoft Corporation, ConsenSys, Salesforce.com Inc., Schneider Electric SE, Trace Genomics, ENGIE Insight Services Inc., LO3 Energy, Enablon, MineSense Technologies Ltd., Enviance, IsoMetrix Software, Oracle Corporation, Tech Mahindra Ltd., International Business Machines Corporation, Sunnova Energy International Inc., SunPower Corporation, Siemens Gamesa Renewable Energy SA, SolarEdge Technologies Inc., Brookfield Renewable Partners LP, Autodesk Inc., Evoqua Water Technologies Corp., Bloom Energy Corporation, Burcon NutraScience, JinkoSolar Holding Co. Ltd., Johnson Controls International plc, Suntech Power Co. Ltd., Hanwha Q CELLS Co. Ltd., Trina Solar Co. Ltd.
What Are The Key Trends That Influence Green Technology and Sustainability Market Size?
Major companies operating in the green technology and sustainability markets are adopting a strategic partnership approach aiming to hasten the transition to a net-zero economy. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success.
How Is The Global Green Technology and Sustainability Market Segmented?
1) By Component: Solution, Services
2) By Technology: Internet of things (IoT), AI And Analytics, Digital Twin, Cloud Computing, Security, Block-chain
3) By Application: Green Building, Carbon Footprint Management, Weather Monitoring and Forecasting, Air And Water Pollution Monitoring, Forest Monitoring, Crop Monitoring, Soil Condition and Moisture Monitoring, Water Purification, Other Applications
Geographical Insights: North America Leading The Green Technology and Sustainability Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Green Technology and Sustainability Market Definition
Green technology (GT) and sustainability is a term to define innovative ways to make environmentally friendly changes and as an alternative source of technology that reduces fossil fuels and its effect on the human, animal, and plant health. It is used to conserves natural resources and the environment. The green technology process is used to reduce the amount of waste and pollution that are created during production and consumption.
Green Technology and Sustainability Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global green technology and sustainability market report covering trends, opportunities, strategies, and more
The Green Technology and Sustainability Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on green technology and sustainability market size, green technology and sustainability market drivers and trends and green technology and sustainability market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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