Green Technology & Sustainability Market by Offering (Solutions, and Services), Technology (IOT, Al & ML, Cloud Computing, Edge Computing, Digital Twin, Blockchain), Vertical (Manufacturing, Energy & Utilities) and Region - Global Forecast to 2030
The global green technology and sustainability market size reached US$ 28.6 Billion in 2024. Looking forward, expects the market to reach US$ 134.9 Billion by 2030, exhibiting a growth rate (CAGR) of 29.5% during 2024-2030. Businesses globally are making substantial investments in green technology & sustainability to align with environmental goals and meet regulatory requirements. Investments span diverse areas, including renewable energy adoption, energy-efficient technologies, sustainable supply chain practices, and eco-friendly product development. Companies are allocating funds for research and development to innovate sustainable solutions and reduce their carbon footprint. Additionally, strategic partnerships and collaborations are forming to leverage collective expertise and resources. The investment landscape is characterized by a growing focus on Environmental, Social, and Governance (ESG) criteria, attracting capital from socially responsible investors.
Technology Roadmap of Green Technology & Sustainability till 2030
The Green technology & sustainability market report covers the technology roadmap till 2030, with insights into short-term, mid-term, and long-term developments.
Short-term roadmap (2024-2030)
- Focus on improving the efficiency of photovoltaic materials to enhance energy conversion in solar panels.
- Integration of AI algorithms for waste sorting and recycling optimization, enhancing the efficiency of recycling processes.
- Adoption of blockchain for transparent supply chains and traceability of agricultural products.
Long-term roadmap (2030 and beyond)
- Implementation of AI-driven decision support systems for precision farming, integrating automated crop monitoring and climate modeling.
- Integrating AI in building automation systems for adaptive energy management, optimizing energy use based on occupancy and environmental conditions.
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Green Technology and Sustainability Market Dynamics
Driver: Rising demand for AI-driven recycling technologies to fuel green innovations and sustainability
The surging demand for AI-driven recycling technology is a catalyst for the widespread adoption of green technology and the expansion of the sustainability market. AI's implementation in recycling processes, particularly in robotic sorting, supply chain optimization, and quality control, leads to heightened resource efficiency and decreased environmental impact. The integration of AI algorithms in waste management systems enhances real-time data analysis, facilitating dynamic decision-making for optimal sustainability outcomes. Businesses investing in AI-powered recycling solutions gain a competitive edge by showcasing environmental responsibility through streamlined processes and reduced carbon footprints. This strategic alignment with sustainability goals positions them favorably in the market, attracting consumers and fostering a positive corporate image. Furthermore, the technical advancements facilitated by AI in recycling transcend the immediate benefits, influencing broader innovations in green technology. This includes the development of energy-efficient practices, smart waste management systems, and sophisticated circular economy models. Consequently, the rising prominence of AI-driven recycling technologies plays a pivotal role in reshaping industries toward more technically advanced, sustainable, and environmentally resilient practices.
Restraint: Lack of robust infrastructure
The growth of green technology and sustainability market is hampered by insufficient infrastructure, which extends to the inadequate integration of digital technologies. Digital tools play a crucial role in optimizing energy efficiency, monitoring environmental impact, and enhancing overall sustainability practices. However, the absence of a robust digital infrastructure impedes the seamless adoption and integration of these technologies. Smart grids, data analytics, and Internet of Things (IoT) devices, for instance, require a supportive digital framework for effective implementation. In the absence of such infrastructure, the potential benefits of digitization in optimizing resource usage and reducing environmental footprints remain unrealized. Addressing the digital divide and investing in digital infrastructure is essential to unlocking the full potential of green technology and fostering a sustainable future.
Opportunity: Adoption of advanced technologies, such as AI, IoT, and big data, across industries
Industries such as manufacturing, healthcare, and IT & telecom are highly adopting advanced technologies (IoT, Artificial Intelligence (AI), and big data), which helps them calculate the carbon emission by their respective business divisions and take appropriate action on the same. According to PwC and Microsoft, using AI could reduce worldwide GHG emissions by 4% in 2030, an amount equivalent to 2.4 gigatons equivalent (GTCO2e) of carbon dioxide (CO2) emissions equivalent to the 2030 annual emissions of Australia, Canada, and Japan combined. PwC and Microsoft predicted that environmentally oriented AI applications carry a big GHG mitigation potential for almost all regions, with North America and East Asia, potentially reducing their GHG emissions by 1.6% to 6.1% and 2.7% to 4.8% in 2030, respectively. In the transportation and logistics industry, IoT devices were used to monitor route optimization leading to saving of fuel. Hence, adopting advanced technologies is expected to create opportunities for green technology & sustainability software providers in the near future.
Challenge: Lack of regulations for green technology
The adoption of green technology requires a uniform legal framework. Since various products are initially developed in industrialized countries, technology transfer from developed to developing countries is a necessary part of the green technology & sustainability process. In most countries, there is no dedicated consigned body to govern these policies; these countries implement regulatory policies based on their regional factors, such as macroeconomic and political risk factors, along with their business requirements. Enterprises have been implementing green technology with the help of IoT, AI, analytics, cloud, and security solutions to better manage business risks and comply with regulations. The varying structure of regulatory policies, along with the changing macroeconomic factors, makes it difficult for vendors to meet the end-user requirements. Some organizations, especially in regions where there are no proper governing and regulatory bodies, tend to implement in-house regulatory guidelines and policies.
Green Technology and Sustainability Market Ecosystem
By vertical, energy & utilities accounts for the largest market size during the forecast period.
The energy and utility vertical is driving the growth of the green technology & sustainability market, with the segment expected to account for the largest market size during the forecast period. The adoption of renewable energy sources, smart grid technologies, energy efficiency, and sustainable transportation are some of the key factors contributing to the growth of the green technology & sustainability market in the energy and utility sector. The growing number of initiatives by governments to increase the share of non-fossil fuel energy and reduce carbon emissions is also driving the adoption of green technologies in the energy and utility sector.
Based on the technology, AI & ML holds the highest CAGR during the forecast period.
AI & ML are profoundly influencing the green technology & sustainability market, driving innovation and efficiency across various sectors. In energy management, AI optimizes power consumption, grid operations, and enhances renewable energy integration, maximizing overall efficiency. ML algorithms analyze vast datasets to improve predictive maintenance, reducing downtime and resource waste in sustainable infrastructure. Smart resource management through AI-driven solutions minimizes water usage, waste generation, and enhances overall environmental impact. Additionally, in supply chain and logistics, AI enhances transparency, enabling businesses to make sustainable sourcing decisions.
By deployment mode, the cloud accounts for the largest market size during the forecast period.
Cloud technology has significantly impacted the green technology & sustainability market by enhancing efficiency and reducing environmental impact. Cloud solutions enable organizations to optimize resource utilization, leading to energy efficiency and lower carbon footprints. Through server virtualization and dynamic resource allocation, cloud providers achieve economies of scale, maximizing the use of hardware and minimizing energy consumption. Moreover, cloud-based services facilitate remote collaboration and data sharing, reducing the need for extensive travel and physical infrastructure. This contributes to decreased greenhouse gas emissions associated with traditional business operations..
North America to account for the largest market size during the forecast period.
In North America, the adoption of green technology & sustainability is influenced by a combination of technological advancements and regulatory measures. Government regulations play a crucial role in shaping the landscape. For instance, stringent emission standards and renewable energy targets have been implemented, fostering a conducive environment for sustainable practices. Compliance with these regulations has led to a surge in investment in clean energy technologies.
Key Market Players
The Green technology & sustainability vendors have implemented various types of organic and inorganic growth strategies, such as partnerships and agreements, new product launches, product upgrades, business expansions, and mergers and acquisitions to strengthen their offerings in the market. The major vendors in the global market for Green technology & sustainability GE (US), IBM (US), Salesforce (US), Microsoft (US), Schneider Electric (France), Sensus (US), Wolters Kluwer (Netherlands), SAP (Germany), Siemens (Germany), Oracle (US), Engie Impact (US), AWS (US), Google (US), ABB (Switzerland), Huawei (China), BT Group (UK), AMCS Group (Ireland), Cority (Canada), Intelex (Canada), Treeni (India), IsoMetrix (US), ConsenSys (US), CropX Technologies (Israel), Hortau (US), Pycno (UK), Wint (US), Envirosoft (Canada), Trace Genomics (US), Taransi (US), Oizom (India), Treevia Forest Technologies (Brazil), Factlines (Norway), ENECHANGE (Japan), EcoCart (US), AquiPor Technologies (US).
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Report Metrics |
Details |
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Market size available for years |
2019–2030 |
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Base year considered |
2023 |
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Forecast period |
2024–2030 |
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Forecast units |
USD Billion |
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Segments Covered |
Offering, Technology, Verticals, and Region |
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Geographies covered |
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
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Green Technology and Sustainability Market Top Companies covered |
GE (US), IBM (US), Salesforce (US), Microsoft (US), Schneider Electric (France), Sensus (US), Wolters Kluwer (Netherlands), SAP (Germany), Siemens (Germany), Oracle (US), Engie Impact (US), AWS (US), Google (US), ABB (Switzerland), Huawei (China), BT Group (UK), AMCS Group (Ireland), Cority (Canada), Intelex (Canada), Treeni (India), IsoMetrix (US), ConsenSys (US), CropX Technologies (Israel), Hortau (US), Pycno (UK), Wint (US), Envirosoft (Canada), Trace Genomics (US), Taransi (US), Oizom (India), Treevia Forest Technologies (Brazil), Factlines (Norway), ENECHANGE (Japan), EcoCart (US), AquiPor Technologies (US) |
This research report categorizes the Green technology & sustainability market based on Offering, Analytics Type, Business Functions, Verticals, and Region.
By Offering:
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Solution
-
By Deployment Mode
- Cloud
- On-Premises
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By Deployment Mode
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Services
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Professional Services
- Consulting
- Integration & Deployment
- Support & Maintenance
- Managed Services
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Professional Services
By Technology:
- Internet Of Things
- AI & ML
- Digital Twins
- Cloud Computing
- Blockchain
- Edge Computing
- Cybersecurity
By Verticals:
- Retail & Consumer Goods
- Automotive & Transportation
- Energy & Utilities
- Chemicals & Materials
- Manufacturing
- Agriculture
- BFSI
- Healthcare & Life Sciences
- Others Verticals
By Region:
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North America
- US
- Canada
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Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
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Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- ANZ
- Rest of Asia Pacific
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Middle East & Africa
- UAE
- Kingdom of Saudi Arabia
- Qatar
- Egypt
- South Africa
- Rest of the Middle East & Africa
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Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Recent Developments:
- GE Healthcare and Amgen have announced a digital data exchange program to improve the understanding of the relationship between raw material variability and process performance during the manufacturing of biological medicines. They will connect GE Healthcare's raw material manufacturing sites with Amgen's process development center in Cambridge, MA.
- Deloitte and IBM have collaborated to offer sustainability solutions to help organizations accelerate their sustainability outcomes. The collaboration enables clients to leverage multiple IBM solutions and integrate data from the IBM Envizi ESG Suite with Deloitte's GreenLight Solution. The solutions offered to GreenLight Solution clients under the collaboration include ESG data, green facilities and operations, green IT and cloud migrations, and facilities and workplace management.
- Salesforce has partnered with Accenture to expand its alliance to help companies embed sustainability into their business, meet growing customer and stakeholder expectations, and contribute to advancing the United Nations Sustainable Development Goals (SDGs). Salesforce has also issued its inaugural Sustainability Bond offering, totaling USD 1 billion, as part of an USD 8 billion underwritten public offering of senior notes.
- Fujitsu and Microsoft have entered a five-year strategic partnership to expand collaboration, with a primary emphasis on sustainability transformation. The partnership is expected to drive joint efforts in developing technologies and solutions for environmental and social sustainability..
- HCLTech and Schneider Electric are collaborated to develop carbon-efficient solutions for data centers in the Asia-Pacific region, aiming to reduce emissions and enhance environmental sustainability.
Frequently Asked Questions (FAQ):
What is Green technology & sustainability?
Green technology & sustainability encompass a diverse array of digital technologies implementation aimed at minimizing environmental impact. These initiatives contribute to reduced energy and water consumption, waste reduction, lower carbon footprint, and enhanced business efficiency, leading to cost savings. Additionally, the focus on sustainable practices fosters innovative product design and creates employment opportunities, reflecting a holistic approach toward environmental responsibility and economic benefit.
Which countries are considered in the European region?
The report includes an analysis of the UK, Germany, France, Spain, and Italy in the European region.
Which are key verticals adopting Green technology & sustainability?
Key verticals adopting Green technology & sustainability include retail & consumer goods, automotive & transportation, energy & utilities, chemicals & materials, manufacturing, agriculture, BFSI, healthcare & life sciences, and others (government, IT/ITeS, telecommunication, construction & real estate).
Which are the key drivers supporting the market growth for Green technology & sustainability?
The key drivers supporting the market growth for the Green technology & sustainability market include growing awareness and concern towards the environment, Increase in government initiatives for low-carbon policies, Increasing consumer and industrial interest for use of clean energy resources to conserve the environment, Rising demand for AI-driven recycling technologies to fuel green innovations and sustainability.
Who are the key vendors in the market for Green technology & sustainability?
The key vendors in the global Green technology & sustainabilitymarket include GE (US), IBM (US), Salesforce (US), Microsoft (US), Schneider Electric (France), Sensus (US), Wolters Kluwer (Netherlands), SAP (Germany), Siemens (Germany), Oracle (US), Engie Impact (US), AWS (US), Google (US), ABB (Switzerland), Huawei (China), BT Group (UK), AMCS Group (Ireland), Cority (Canada), Intelex (Canada), Treeni (India), IsoMetrix (US), ConsenSys (US), CropX Technologies (Israel), Hortau (US), Pycno (UK), Wint (US), Envirosoft (Canada), Trace Genomics (US), Taransi (US), Oizom (India), Treevia Forest Technologies (Brazil), Factlines (Norway), ENECHANGE (Japan), EcoCart (US), AquiPor Technologies (US). .
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This research study involved the use of extensive secondary sources, directories, and databases, such as D&B Hoovers and Bloomberg Businessweek, to identify and collect information useful for this technical, market-oriented, and commercial study of the green technology & sustainability market. Journals, repositories, and resources from the International Journal of Green Technology, International Journal of Energy Economics and Policy, MDPI, and Elsevier BV were referred to understand the integration of green technology & sustainability. The primary sources were mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, service providers, technology developers, alliances, and organizations related to all segments of this industry’s value chain. In-depth interviews were conducted with various primary respondents that included key industry participants, subject matter experts, C-level executives of key market players, and industry consultants to obtain and verify critical qualitative and quantitative information as well as assess the prospects of the market. The following illustrative figure illustrates the market research methodology applied in making this report on the green technology & sustainability market.
Secondary Research
The market size of companies offering green technology & sustainability solutions and services was arrived at based on secondary data available through paid and unpaid sources. It was also arrived at by analyzing the product portfolios of major companies and rating the companies based on their performance and quality.
In the secondary research process, various sources were referred to identify and collect information for this study. Secondary sources included annual reports, press releases, and investor presentations of companies; white papers, journals, and certified publications; and articles from recognized authors, directories, and databases. The data was also collected from other secondary sources, such as journals, government websites, blogs, and vendor websites. Additionally, green technology & sustainability solutions and services spending of various countries was extracted from the respective sources. Secondary research was mainly used to obtain key information related to the industry’s value chain and supply chain to identify key players based on solutions, services, market classification, and segmentation according to offerings of major players, industry trends related to solutions, services, deployment modes, functionality, applications, verticals, and regions, and key developments from both market and technology-oriented perspectives.
Primary Research
In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, including Chief Experience Officers (CXOs); Vice Presidents (VPs); directors from business development, marketing, and green technology & sustainability solution experts; related key executives from green technology & sustainability solution vendors, system integrators, professional service providers, and industry associations; and key opinion leaders.
The following is the breakup of primary profiles:
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Market Size Estimation
In the top-down approach, an exhaustive list of all the vendors offering solutions and services in the green technology & sustainability market was prepared. The revenue contribution of the market vendors was estimated through annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. Each offering of various vendors was evaluated based on the breadth of services, deployment modes, interaction types, business functions, applications, and verticals. The aggregate revenue of all companies was extrapolated to reach the overall market size. Each subsegment was studied and analyzed for its global market size and regional penetration. The markets were triangulated through both primary and secondary research. The primary procedure included extensive interviews for key insights from industry leaders, such as CIOs, CEOs, VPs, directors, and marketing executives. The market numbers were further triangulated with the existing MarketsandMarkets repository for validation.
In the bottom-up approach, the adoption rate of green technology & sustainability solutions and services among different end users in key countries with respect to their regions contributing the most to the market share was identified. For cross-validation, the adoption of green technology & sustainability solutions and services among industries, along with different use cases with respect to their regions, was identified and extrapolated. Weightage was given to use cases identified in different regions for the market size calculation.
Based on the market numbers, the regional split was determined by primary and secondary sources. The procedure included the analysis of the regional penetration of green technology & sustainability solutions and services. Based on secondary research, the regional spending on Information and Communications Technology (ICT), socio-economic analysis of each country, strategic vendor analysis of major green technology & sustainability solutions and services providers, and organic and inorganic business development activities of regional and global players were estimated. With the data triangulation procedure and data validation through primaries, the exact values of the overall green technology & sustainability es market and its segments were determined and confirmed using the study.
All the possible parameters that affect the market covered in the research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The data is consolidated and added with detailed inputs and analysis from MarketsandMarkets.
- The pricing trend is assumed to vary over time.
- All the forecasts are made with the standard assumption that the accepted currency is USD.
- For the conversion of various currencies to USD, average historical exchange rates are used according to the year specified. For all the historical and current exchange rates required for calculations and currency conversions, the US Internal Revenue Service’s website is used.
- All the forecasts are made under the standard assumption that the globally accepted currency, USD, remains constant during the next five years.
- Vendor-side analysis: The market size estimates of associated solutions and services are factored in from the vendor side by assuming an average of licensing and subscription-based models of leading and innovative vendors.
- Demand/end-user analysis: End users operating in verticals across regions are analyzed in terms of market spending on Green technology & sustainability solutions and services based on some of the key use cases. These factors for the Green technology & sustainability tool industry per region are separately analyzed, and the average spending was extrapolated with an approximation based on assumed weightage. This factor is derived by averaging various market influencers, including recent developments, regulations, mergers and acquisitions, enterprise/SME adoption, startup ecosystem, IT spending, technology propensity and maturity, use cases, and the estimated number of organizations per region.
Market Size Estimation: Top Down And Bottom Up Approach
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Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakup procedures were employed, wherever applicable. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.
Market Definition
Green technology & sustainability encompass a diverse array of digital technologies implementation aimed at minimizing environmental impact. These initiatives contribute to reduced energy and water consumption, waste reduction, lower carbon footprint, and enhanced business efficiency, leading to cost savings. Additionally, the focus on sustainable practices fosters innovative product design and creates employment opportunities, reflecting a holistic approach toward environmental responsibility and economic benefit.
The pursuit of a green technology & sustainability is being revolutionized by the convergence of cutting-edge digital technologies such as the IoT, AI, and other technologies. Technologies such as artificial intelligence and machine learning analyze data to formulate sustainable strategies, while IoT tools optimize energy consumption. Blockchain ensures transparency in sustainable supply chains, and emerging technologies support carbon capture initiatives. These digital innovations empower businesses to achieve sustainable products and services, and actively contribute to global environmental objectives.
Key Stakeholders
- Green technology & sustainability solution providers
- IT management directors/managers
- Government organizations
- Training and education service providers
- Consultants/advisory firms
- System integrators
- Value-added resellers
- End users
Report Objectives
- To define, describe, and predict the green technology & sustainability market by offering (solutions and services), technology, vertical, and region
- To provide detailed information about major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growth
- To analyze opportunities in the market and provide details of the competitive landscape for stakeholders and market leaders
- To forecast the market size of segments with respect to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
- To profile key players and comprehensively analyze their market rankings and core competencies
- To analyze competitive developments, such as partnerships, new product launches, and mergers and acquisitions, in the green technology & sustainability market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
- Product matrix provides a detailed comparison of the product portfolio of each company
Geographic Analysis
- Further breakup of the North American market for Green technology & sustainability
- Further breakup of the European market for Green technology & sustainability
- Further breakup of the Asia Pacific market for Green technology & sustainability
- Further breakup of the Latin American market for Green technology & sustainability
- Further breakup of the Middle East & Africa market for Green technology & sustainability
Company Information
- Detailed analysis and profiling of additional market players (up to five)
Generating Response ...
Growth opportunities and latent adjacency in Green Technology & Sustainability Market