PUBLISHER: IMARC | PRODUCT CODE: 1831832
PUBLISHER: IMARC | PRODUCT CODE: 1831832
The global green technology and sustainability market size reached USD 22.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 99.6 Billion by 2033, exhibiting a growth rate (CAGR) of 16.84% during 2025-2033.
Most of the world's commercial energy supply currently relies on fossil fuels that lead to considerable carbon emissions. As a result, governing agencies of numerous countries are emphasizing the adoption of green technology and sustainability to minimize and reduce the negative impact of human activities. Green technology and sustainability help conserve the natural environment and resources by integrating different products, equipment, and systems. They generally comprise cloud computing, Internet of Things (IoT), artificial intelligence (AI), cybersecurity, and other latest IT tools that assess and respond to environmental threats instantaneously.
Increasing global challenges, such as climatic changes, depletion of natural resources, and rising pollution levels, represent one of the major factors driving the need for green technology and sustainability to address the adverse environmental concerns. Moreover, the growing awareness among individuals about the consequences of environmental degradation and increasing global warming is propelling the use of green technology and sustainability worldwide as an alternative to traditional energy sources. Apart from this, various green initiatives undertaken by governments of several countries to promote sustainable development are positively influencing the adoption of smart technologies to generate renewable energy. Furthermore, they are used to address the growing need for transparency and information for data management, impact quantification, and verification and traceability of goods. Additionally, several packaging manufacturers are relying on blockchain technology to enable customers to scan products and access information about their sustainability and recyclability. Besides this, the emergence of the fourth industrial revolution or Industry 4.0 is encouraging the use of green technology and sustainability to minimize carbon footprint and reduce power and energy bills of manufacturing processes.
The competitive landscape of the industry has also been examined along with the profiles of the key players being ConsenSys, CropX inc., General Electric Company, Intelex Technologies ULC (Fortive Corporation), International Business Machines Corporation, Microsoft Corporation, MineSense Technologies Ltd., Oizom Instruments Private Limited, Oracle Corporation, Salesforce.com inc, Schneider Electric SE, Tech Mahindra Ltd and Trace Genomics Inc.