Green Technology and Sustainability Market by Technology (IoT, AI & Analytics, Digital Twin, Cloud Computing), Application (Green Building, Carbon Footprint Management, Weather Monitoring & Forecasting), Component and Region - Global Forecast to 2027

Green Technology and Sustainability Market by Technology (IoT, AI & Analytics, Digital Twin, Cloud Computing), Application (Green Building, Carbon Footprint Management, Weather Monitoring & Forecasting), Component and Region - Global Forecast to 2027

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 rising consumer and industrial interest in using clean energy resources to conserve the environment are the key factors projected to drive the adoption of green technology and sustainability solutions and services across the globe. The objective of the report is to define, describe, and forecast the green technology and sustainability market size based on Component, Organization Size, Deployment mode technology, application, vertical, and region.

The services segment is expected to grow at the highest CAGR during the forecast period

The component segment comprises solutions and services. The services segment has been further divided into professional services and managed services. These services play a vital role in functioning green technology and sustainability solutions. The services segment is broadly segmented into consulting, integration and deployment, support, and maintenance services. The vendors require technical support services and consulting services to manage the deployment of such solutions. The services ensure faster and smoother implementation, which helps to optimize all kinds of operations. These services are integral in deploying technology solutions and are taken care of by solution and service providers.

The AI and analytics segment is expected to grow at the highest CAGR 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. The cloud computing technology segment is expected to have the largest market size during the forecast period. AI and analytics find use cases in all industries, such as manufacturing, automotive, healthcare, and agriculture. Several companies are leveraging these technologies to reduce their emissions and make better data-driven models of environmental processes to improve their ability to study current and future trends, including water availability, ecosystems wellbeing, and pollution.

The crop monitoring segment is expected to grow at the highest CAGR during the forecast period.

The green technology and sustainability market by applications has been segmented into carbon footprint management, green building, water purification, water leak detection, fire detection, soil condition/moisture monitoring, crop monitoring, forest monitoring, weather monitoring and forecasting, air and water pollution monitoring, and sustainable mining and exploration. The agriculture sector is increasingly looking at leveraging technology for better crop yield. The agriculture sector implements innovative technologies, such as AI, digital twin, and IoT. Companies are using sensors and various IoT-based technologies to monitor crop and soil health. Various AI and ML tools are being used to predict the optimal time to sow seeds and get alerts on risks from pest attacks. Farmers are quickly adopting high-tech ways of protecting plants against weeds and various kinds of outdoor pests.

Breakdown of primaries

In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the green technology and sustainability market.

By Company: Tier I: 34%, Tier II: 43%, and Tier III: 23%

By Designation: C-Level Executives: 50%, Directors: 30%, and Others: 20%

By Region: North America: 25%, APAC: 30%, Europe: 30%, MEA: 10%, Latin America: 5%

The report includes the study of key players offering green technology and sustainability solution. It profiles major vendors in the global green technology and sustainability market. The major vendors in the global green technology and sustainability market are 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).

Research Coverage

The market study covers the green technology and sustainability market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as components, technology, application, and regions. It includes an in-depth competitive analysis of the market's key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report

The report would provide the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall green technology and sustainability market and its subsegments. It would help stakeholders understand the competitive landscape and gain better insights to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the market's pulse and provides them with information on key market drivers, restraints, challenges, and opportunities.