Green Technology and Sustainability Market Size Worth $121.05 Billion By 2032 | CAGR: 20.7%

The global green technology and sustainability market size is expected to reach USD 121.05 billion by 2032, according to a new study by Polaris Market Research. The report “Green Technology and Sustainability Market Share, Size, Trends, Industry Analysis Report, By Offering (Solution, Services); By Technology; By End Use Industry; By Region; Segment Forecast, 2024- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.  

The global focus on Sustainable Development Goals (SDGs) is a significant catalyst for the growth of the green technology and sustainability market. The SDGs, set by the United Nations, provide a framework for addressing pressing global challenges, including climate change, resource depletion, and social inequality. As countries commit to achieving these goals, there is increasing pressure on governments, businesses, and individuals to adopt sustainable practices and technologies. The SDGs create a sense of urgency and direction, driving investment in green technologies and solutions that align with the objectives of environmental protection, social equity, and economic development. Additionally, international agreements such as the Paris Agreement on climate change further reinforce the need for sustainable development and carbon emission reductions, prompting governments and industries to prioritize green initiatives.

Corporate sustainability initiatives are further influencing the green technology and sustainability market. Companies across industries are increasingly recognizing the importance of integrating environmental considerations into their operations. Through initiatives such as carbon footprint reduction, and waste reduction programs, corporations are actively contributing to a greener future. Moreover, many businesses are investing in research and development to innovate new eco-friendly technologies and processes.

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The expansion of renewable energy presents significant opportunities in the green technology and sustainability market. As countries transition towards cleaner energy sources to mitigate climate change, there's a growing demand for renewable energy technologies like solar, wind, and hydro power. This shift not only reduces greenhouse gas emissions but also stimulates innovation and investment in renewable energy infrastructure. Consequently, businesses are involved in the development, manufacturing, and implementation of renewable energy technologies.

The shift towards electric vehicles, public transit enhancements, and alternative fuel sources reduces greenhouse gas emissions and fosters cleaner air quality. This transition creates demand for innovative solutions such as EV charging infrastructure, lightweight materials for vehicles, and smart transportation systems. Additionally, advancements in autonomous vehicles and shared mobility models further contribute to sustainable transportation initiatives. As governments and industries worldwide prioritize decarbonization and energy efficiency, the market for sustainable transportation technologies continues to expand.

Green Technology and Sustainability Market Report Highlights

• In 2023, the solution segment held significant revenue share owing to rising demand for integrated solutions that address multiple sustainability challenges, such as energy efficiency, waste management, and water conservation.
• In 2023, the Internet of Things (IoT) segment held significant revenue share owing to greater focus on energy efficiency, smart grid solutions, and waste management.
• In 2023, the energy and power segment held significant revenue share owing to high energy consumption, and stringent environmental regulations.
• In 2023, North America region accounted for a significant market share due to high consumer awareness, government support, and corporate initiatives.
• The market is highly competitive owing to the existence of market players with a global presence, including Alphabet Inc., Engie Impact, Enviance, IBM, Microsoft, Oracle, Siemens, and General Electric among others.

Polaris Market Research has segmented the Green Technology and Sustainability market report based on offering, technology, end use industry, and region:

Green Technology and Sustainability, Offering Outlook (Revenue - USD Billion, 2019 - 2032)

• Solution
• Services

Green Technology and Sustainability, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

• Digital Twins
• Internet of Things (IoT)
• Blockchain
• Cybersecurity
• AI and Machine Learning
• Others

Green Technology and Sustainability, End Use Industry Outlook (Revenue - USD Billion, 2019 - 2032)

• BFSI
• Automotive and Transportation
• Manufacturing
• Healthcare
• Retail
• Energy and Power
• Chemicals
• Agriculture
• Others

Green Technology and Sustainability, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• France
• Germany
• UK
• Italy
• Netherlands
• Spain
• Russia
• Rest of Europe

• Asia Pacific

• Japan
• China
• India
• Malaysia
• Indonesia
• South Korea
• Australia
• Rest of Asia Pacific

• Latin America

• Brazil
• Mexico
• Argentina
• Rest of Latin America

• Middle East & Africa

• Saudi Arabia
• UAE
• Israel
• South Africa
• Rest of Middle East & Africa

Green Technology and Sustainability Market Report Scope