The global Green Technology and Sustainability Market is expected to grow from USD 17.8 billion in 2022 to USD 60.7 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 27.8% during the forecast period. The growing use of RFID sensors across industries and the growing consumer and industrial interest in using clean energy resources to conserve the environment are driving the adoption of green technology and sustainability solutions and services in the market.
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Solution segment is estimated to have the largest market size during the forecast period
The component segment comprises solutions and services. The solution segment is estimated to account for a larger market size during the forecast period. The emerging technologies facilitate new pathways toward green technology and sustainable development, which also has taken into consideration their social, economic, and environmental dimensions. Hence, the rise in the understanding of technology causing environmental hazards is a major factor that drives the adoption of green technology and sustainability solution among verticals across the globe, which, in turn, drives the green technology and sustainability market growth.
Cloud computing segment is estimated to have the largest market size during the forecast period
The green technology and sustainability market by technology has been segmented into IoT, AI and analytics, digital twin, cloud computing, security, and blockchain. Cloud computing can be used to gather data from tools, such as soil sensors, satellite images, and weather stations, to help farmers make better decisions related to managing their crops. The clouds analytic capabilities also aid farmers in understanding their production environment. Agricultural companies are harnessing the power of the cloud to create solutions.
Green technology is an applicable combination of advanced tools and solutions to conserve natural resources and environment, minimize or mitigate negative impacts from human activities on the environment, and ensure sustainability. Green technology is also referred to as clean technology or environmental technology. It includes technologies, such as IoT, AI, analytics, blockchain, digital twin, security, and cloud, which collect, integrate, and analyze data from various real-time data sources, such as sensors, cameras, and Global Positioning System (GPS).
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Key players in the green technology and sustainability market include GE (US), IBM (US), Enablon (France), Salesforce (US), Microsoft (US), Schneider Electric (France), Engie Impact (US), Intelex (Canada), Enviance (US), Sensus (US), LO3 Energy (US), Isometrix (South Africa), ConsenSys (US), CropX (Israel), Hortau (US), IOT Solutions and Consulting (Europe), Pycno (UK), MineSense Technologies (Canada), WINT (US), Envirosoft(Canada), ProcessMAP(US) Accuvio (Ireland), Taranis (Israel), Trace Genomics (US), OIZOM (India), SMAP Energy (UK), Treevia (Latin America), Ecotrack(US), EcoCart(US) and AquiPor Technologies (US).
General Electric (GE) is a digital industrial company that provides connected, predictive, and responsive software-defined machines and solutions. The company operates through various segments: power, renewable energy, aviation, oil and gas, healthcare, transportation, lighting, and capital. It offers a diversified portfolio of products and services, including process monitoring, sensor-enabled automation and tools for virtual manufacturing, and supply chain optimization. GE is in North America, Europe, Asia, Latin America, and MEA. In the green technology and sustainability market, the company offers digital wind farm and digital hydro plant solutions (through the renewable energy segment), grid software, APM, and operations optimization. The company focuses on accelerating the energy sectors digital transformation, offering digital energy solutions that help power generation and utility companies’ model, manage, and control their assets and networks in complex and dynamic environments.
Schneider Electric was founded in 1836 and is headquartered in Rueil-Malmaison, France. The multinational company manufactures industrial equipment and is one of the worlds largest providers of energy management solutions. The company manages through two business segments: energy management and industrial automation. It offers a broad portfolio of products and services, including surge suppressors, Uninterruptible Power Supply (UPS) systems, power conditioning equipment, power management software, precision cooling equipment, and professional and consulting services. Schneider Electric has operations across the world, with manufacturing facilities located in the US, Ireland, Switzerland, Denmark, Philippines, China, India, and Brazil.
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