Green Technology and Sustainability Global Market Report 2024

Within the realm of green technology and sustainability, key components encompass solutions and services. Solutions encompass diverse programs that gather specialized data from various sensors, enabling insights that drive cost reduction, enhance occupant comfort, optimize time efficiency, and act as contingency measures for potential disasters. These technologies, including IoT, AI, analytics, digital twin, cloud computing, security, and blockchain, are strategically applied across sectors such as green building, carbon footprint management, weather forecasting, monitoring of air and water pollution, forest and crop management, soil analysis, water purification, and more.

This report provides green technology and sustainability market statistics, including green technology and sustainability industry global market size, regional shares, competitors with a green technology and sustainability market share, detailed green technology and sustainability market segments, market trends and opportunities, and any further data you may need to thrive in the green technology and sustainability industry. This green technology and sustainability market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The global green technology and sustainability market has grown exponentially in recent years. It will grow from $15.28 billion in 2023 to $19.19 billion in 2024 at a compound annual growth rate (CAGR) of 25.6%. Historical growth can be attributed to increased investment and funding, the expansion of renewable energy sources, corporate initiatives focusing on sustainability, advancements in waste management solutions, the implementation of energy efficiency programs, and the impact of urbanization on the development of sustainable infrastructure.

The global green technology and sustainability market is expected to see exponential growth in the next few years. It will grow to $44.55 billion in 2028 at a compound annual growth rate (CAGR) of 23.4%. The anticipated growth in the forecast period is driven by consumer demand for sustainability, efforts towards enhancing energy efficiency, adoption of circular economy principles, corporate commitments to sustainability goals, and growing concerns regarding climate change. Major trends expected during this period encompass initiatives focused on mitigating climate change, increased investment in research and development, corporate commitments to sustainability, initiatives promoting the circular economy, and efforts towards urban sustainability measures to create more eco-friendly cities.

The surging fuel prices and escalating pollution levels are anticipated to be key drivers propelling the growth of the green technology and sustainability market. Heightened gasoline costs globally and increasing pollution from human activities underscore the pressing need for eco-friendly solutions. The US Department of Energy reported a substantial surge in retail gasoline prices across the United States, ranging from $2.67/gal on the Gulf Coast to $3.70/gal on the West Coast in 2021. This highlights the critical nexus between rising fuel prices, environmental concerns, and the imperative for sustainable solutions.

The burgeoning demand for eco-conscious products is poised to steer the expansion of the green technology and sustainability market in the foreseeable future. These products are engineered and employed with minimal environmental impact, playing a pivotal role in sustainable practices. TheRoundup's survey of 10,281 consumers revealed significant trends 51% avoiding environmentally harmful products, 40% favoring organic and natural products in 2021, and notably, 61% opting for more eco-friendly purchases. Additionally, 62% displayed a preference for products with eco-friendly packaging. This consumer shift signals a robust inclination towards eco-conscious choices, thereby influencing the green technology and sustainability market.

Technological advancements and the integration of innovative solutions represent prominent trends shaping the landscape of the green technology and sustainability market. Industry players are heavily investing in technological enhancements to offer sustainable alternatives while reducing reliance on fossil resources. ABB Ltd.'s launch of the ABB Ability OPTIMAX in November 2022 is a prime example. This energy management system caters to hydrogen manufacturing firms, curbing electricity-related expenses by up to 20%. It integrates forecasting and intra-day planning, enabling businesses to competitively trade with the grid.

Strategic partnerships stand as a strategic approach adopted by major players in the green technology and sustainability markets to expedite the transition to a net-zero economy. These partnerships leverage collective strengths and resources for mutual benefit. Salesforce Inc.'s collaboration with AT&T Inc., announced in June 2023, is a prime illustration. Salesforce is set to join AT&T's Connected Climate Initiative (CCI), aiming to reduce greenhouse emissions by one gigaton by 2035. By harnessing connectivity technologies like IoT, 5G, and edge computing, the CCI assembles business leaders, universities, and non-profit organizations toward this ambitious goal. AT&T spearheads this initiative within the telecommunications sphere in the United States.
In July 2021, Nofar Energy, an esteemed renewable energy company based in Israel, successfully acquired a commanding 67% stake in Blue Sky Utility for a significant $91 million. This strategic acquisition marks Nofar Energy's entry into the US market, aligning closely with its overarching strategy to extend its operations globally. The acquisition of Blue Sky Utility not only facilitates Nofar Energy's penetration into the US market but also complements its existing expertise, particularly in the Commercial and Industrial (C and I) space. Blue Sky Utility, a distinguished renewable energy and storage firm based in the US, specializes in promoting energy efficiency and sustainability initiatives.

Major companies operating in the green technology and sustainability market report are 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., and Trina Solar Co. Ltd.

North America was the largest region in the green technology and sustainability market share in 2023. The regions covered in the green technology and sustainability market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the green technology and sustainability market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The green technology and sustainability market includes revenues earned by entities by providing environmental sustainability, material science, nature’s ecosystem services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.