Green Technologies Market: Global Industry Analysis and Forecast (2023-2029)

Green Technologies Market size was valued at US$ 18.23 Bn. in 2022 and is expected to grow at a CAGR of 27.6% through 2023 to 2029. Internet of Things (IoT) segment leads the Global Green Technologies Market by 2029.
Green Technologies Market Overview:
The Global Green Technologies market was valued at US $18.23 Bn. in 2022, and it is expected to reach US $100.42 Bn. by 2029 with a CAGR of 27.6% during the forecast period. Green technology is an environment friendly technology, which is developed and utilized in such a way that it doesn’t interrupt environment and preserves natural resources. The adoption and utilization of green technologies include the utilization of environmental technologies for monitoring and assessment, pollution prevention and control, and restoration. The utilization of green technology reduces the amount of waste and pollution that is generated during production and consumption. Green technology is also known as environmental technology and clean technology.

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Green Technologies Market Dynamics:
Growing energy consumption and greenhouse gas emissions are the key driving factors for the development of green technology. In the projections of the International Energy Agency in the world, industry, transport, and construction account for equal shares of energy consumption and green house gas emissions of around 30% which have boosted the growth of the green technologies market.

Technology businesses are looking for solutions to lower their products' energy use. Companies are concentrating their efforts on developing energy-efficient goods, power supplies, and integrated circuits, as well as developing cooperative solutions to assist clients in reducing their carbon emissions. In the green technology market, environmentally friendly corporate practises decrease company risks, boost reputation, and create significant market prospects. Numerous gadgets use wireless technology in their day-to-day operations in the recent wireless era; these wireless devices consume a significant amount of energy and emit a significant quantity of carbon while being used.

Technological companies have the opportunity to lower not just the amount of energy consumed by these wireless devices, but also the quantity of carbon released by them. Technology behemoths like Apple are assisting their manufacturing partners in reducing their carbon footprint by collaborating to install more than four gigawatts of new clean energy globally by 2022.

Government creativities to make awareness about renewable energy & promote green technology by presenting many fiscal incentives have increased the use of green technology. Import duty and sales tax exemption is given for the procurement of solar systems equipment and solar heating system equipment. The cost acquired for the implementation and the maintenance of green technology is high. This high cost is the restraining factor, which hamper the growth of the Global Green Technologies Market during the forecast period 2023-2029.

A lot of green energy sources utilize more land as compared to non-green sources which is a major negative factor if land use, space available, and arable land are important (dependent on the location).
Green Technologies Market Segment Analysis:
The Global Green Technologies Market is segmented by Technology, Application, and Component.

Based on the Technology, the market is segmented into Internet of Things, AI and analytics, Digital twin, Cloud computing, Security, and Blockchain. Internet of Things segment is expected to hold the largest market shares of xx% by 2029. Introduction of green technology on the Internet of Things connectivity has minimized the exploitation of environmental conservation and surveillance. Lower operational cost and low power consumption leading to efficient utilization of natural resources have contributed to the growth of the segment.

Based on the Application, the market is segmented into Green Building, Carbon Footprint Management, Weather Monitoring & Forecasting, Air & Water Pollution Monitoring, Forest and crop Monitoring, Water Purification, and Others.

Green building constructions are energy efficient, conserve resources, produce healthier indoor environments, and provides durable and beautiful spaces that utilize environmentally friendly materials. Green building includes integrated design concepts, solar orientation, suitable footprint sizing, glazing awareness, material durability, economic life-cycle analysis, material recycle, and salvage, natural material content, locally available materials, and economic sustainability. Residential and commercial buildings are responsible for nearly half (48%) of all greenhouse gas emissions, and 76% of all electricity generated by United States power plants, which have made it compulsory to incorporate the Green Technology, according to the U.S. Department of Energy. These are the key factors of green building that boost the growth of the global market during the forecast period 2023-2029.

Based on the Component, the market is segmented into Solution, and Services. Solution segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. The environment has been continuously exploited since the advent of globalization and innovation development. Emerging technologies open up new avenues for green technology and sustainable development, taking into account their social, economic, and environmental components. As a result, growing awareness of technology's negative impact on the environment is a major driver driving the adoption of green technology solutions across industries around the world, which drives the green technology market growth.
Regional Insights:
North America dominates the Global Green Technologies market during the forecast period 2023-2029. North America is expected to hold the largest market shares of xx% by 2029. The United States is a leader in advanced energy innovation, holding most of the world’s rights in the green technology area. The emerging and developed countries in North America such as U.S and Canada, have been implementing green technology by installing new renewable energy systems, building highly efficient constructions, and pushing for more fuel-efficient and electric cars. The American Recovery and Reinvestment Act (ARRA), has put forth clean energy plans and financing requirements, which have led to fast growth in implementation of the green technology. These are the major factors that drives the growth of this region in the Global market during the forecast period 2023-2029.

Asia Pacific is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. Developing countries in Asia Pacific, such as China has the highest renewable energy capacity in the globe. China has prioritized manufacturing and installation of green technology, concentrating on growing its exports to other countries. The government of China has pushed new coal emission rules and air-quality standards in response to rising environmental worries. These are the key drivers that boost the growth of this region in the Global market during the forecast period 2023-2029.

The objective of the report is to present a comprehensive analysis of the Global Green Technologies Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Green Technologies Market dynamic, structure by analyzing the market segments and project the Global Green Technologies Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Green Technologies Market make the report investor’s guide.
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Green Technologies Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 18.23 Bn.


Forecast Period 2023 to 2029 CAGR:
27.6%
Market Size in 2029:
US $ 100.42 Bn.


 Segments Covered:
by Technology
Internet of Things
AI and analytics
Digital twin
Cloud computing
Security
Blockchain


by Component
Solution
Services


by Application
Green Building
Carbon Footprint Management
Weather Monitoring & Forecasting
Air & Water Pollution Monitoring
Forest and crop Monitoring
Water Purification
Others



Green Technologies Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players
1. CropX Inc.
2. Enablon France SA
3. Enviance Inc.
4. General Electric
5. Hortau Inc.
6. IBM Corporation
7. LO3 Energy Inc.
8. Oracle Corporation
9. Tech Mahindra Limited
10. Trace Genomics
11. Aleo Solar
12. Panasonic
13. Clean Power Investor
14. Suzlon
15. Gamesa
16. Sharp solar
17. First Solar

Frequently Asked Questions:

1] What segments are covered in Global Green Technologies Market report?
Ans. The segments covered in Global Green Technologies Market report are based on Technology, Application, and Component.

2] Which region is expected to hold the highest share in the Global Green Technologies Market?
Ans. North America is expected to hold the highest share in the Global Green Technologies Market.

3] Who are the top key players in the Global Green Technologies Market?
Ans. CropX Inc., Enablon France SA, Enviance Inc., General Electric, and Hortau Inc. are the top key players in the Global Green Technologies Market.

4] Which segment holds the largest market share in the Global Green Technologies market by 2029?
Ans. Internet of Things (IoT) segment hold the largest market share in the Global Green Technologies market by 2029.

5] What is the market size of the Global Green Technologies market by 2029?
Ans. The market size of the Global Green Technologies market is US$ 100.42 Bn. by 2029.

6] What was the market size of the Global Green Technologies market in 2022?
Ans. The market size of the Global Green Technologies market was worth US$ 18.23 Bn. in 2022.