Pune, India, May 05, 2023 (GLOBE NEWSWIRE) — According to Fortune Business Insights, global Green Technology and Sustainability Market Size was valued at USD 13.76 Billion in 2022 and is projected to grow from USD 16.50 Billion in 2023 to USD 61.92 Billion by 2030, exhibiting a CAGR of 20.8% during the forecast period. Increasing Adoption of Serverless Technologies to Propel Market Growth. Fortune Business Insights™ displays this information in a report titled, Global Green Technology and Sustainability Market Forecast, 2023-2030.
Green technology and sustainability solutions are projected to gain significant traction in developing countries over the coming years as these economies are promoting green initiatives on a large scale. Leading innovators across the world are trying to improve their own green technologies, which will play a vital role in accelerating the green technology and sustainability market growth.
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Key Industry Development:
General Electric announced plans to supply renewable energy to 42 onshore wind turbines for CleanMax Wind Hybrid Projects in India. The total capacity of renewable energy supplied was anticipated to be around 110MW.
Key Takeaways
- The potential of this market is projected to grow rapidly in developing economies and emerging markets in the coming years.
- Emphasis by Governments and Businesses on Decarbonizing Economy to Foster Market Development
- Growing Adoption of Green Data Centers to Expand Market Size
- By Deployment Analysis: Rising Adoption of Cloud Infrastructure Design & Architecture to Propel Market Growth
- Green Technology and Sustainability Market Size in North America was USD 4.94 Billion in 2022
Discover the Leading Players Featured in the Report:
“Companies leading the global green technology and sustainability market are 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.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 20.8% |
| 2030 Value Projection | USD 61.92 Billion |
| Base Year | 2022 |
| Green Technology and Sustainability Market Size in 2022 | USD 13.76 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 160 |
| Segments covered | Component, Deployment, Enterprise Type, Application and Geography |
| Green Technology and Sustainability Market Growth Drivers | Increasing Construction of Green Data Centres to Boost Market Progress |
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https://www.fortunebusinessinsights.com/green-technology-and-sustainability-market-102221
Drivers and Restraints:
Increasing Construction of Green Data Centers to Boost Market Progress
Green data centers, also called sustainable data centers, are service facilities that use energy-efficient technologies to manage, store, and operate data. According to the 2020 U.S. Data Center Energy Use Report, data centers in the U.S. were predicted to consume around 73 billion kWh in 2020. Such high energy consumption is expected to augment the adoption of green data centers in all regions, thereby fueling the market share.
However, high costs related to implementing green technologies and sustainability solutions can limit the market growth in the future.
Segments
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
- Europe
- Asia Pacific
Regional Insights:
North America to Dominate due to the Presence of Major Players
North America is predicted to hold a dominant green technology and sustainability market share during the forecast timeline. The region’s growth can be attributed to the presence of leading companies, such as Microsoft Corporation, GE Electric, IBM Corporation, Oracle Corporation, Engie Impact, CropX Inc., and Taranis. Also, these players are trying to expand their business presence globally by implementing various corporate strategies such as collaborations, partnerships, and mergers.
Competitive Landscape:
Key Players to Develop Advanced Green Technology and Sustainability Solutions to Expand Market Presence
Companies operating in the market, such as General Electric Company, Enablon, Salesforce.com, Inc., Microsoft Corporation, Schneider Electric, and Engie Impact, among others, are developing various green technology and sustainability solutions that are equipped with innovative technologies. These firms are also anticipated to make significant investments in green bonds.
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FAQ’s
How big is the Green Technology and Sustainability Market?
Green Technology and Sustainability Market size was USD 13.76 Billion in 2022.
How fast is the Green Technology and Sustainability Market growing?
The Green Technology and Sustainability Market will exhibit a CAGR of 20.8% during the forecast period, 2023-2030
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