The global green technology market is forecast to reach USD 74.64 billion by 2030

The global green technology market is expected to reach $74.64 billion by 2030, growing at a CAGR of 21.9% from 2021 to 2030.

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According to Research and Market statistics , the global green and sustainable technology market size is valued at 13.2 billion USD in 20201 and is expected to reach 74.64 billion USD in 2030, growing at a CAGR of 21 .9% from 2021 to 2030. The report focuses on the growth prospects, limitations and trends of global green technology.

Green technology includes environmentally friendly solutions that bring economic efficiency and social sustainability. Currently, governments around the world are investing in green technology with the aim of protecting the environment and overcoming the negative impacts on the environment in the past. This creates the prospect of promoting the development of the green technology market.

In Research and Market ‘s report , the global green and sustainable technology market is surveyed based on factors of technology platform, applicability and region.

In terms of technology, the market is segmented into Internet of Things (IoT), cloud computing, artificial intelligence and analytics, dual digital, cybersecurity, and blockchain. According to the survey, the IoT technology element leads the market in 2021 and is forecast to maintain its growth momentum.

The driving factor for the growth of the IoT technology segment is the development of a revolution in connectivity, contributing to limiting pollution and emissions, reducing mining, and minimizing operating costs and power consumption. The analytics and artificial intelligence segment is also forecast to grow at the highest rates between 2021-2030, driven by the increasing adoption of AI and analytics across different industries globally. .

In terms of applicability, green technology is applied in many fields including green building, carbon emission management, weather monitoring and forecasting, air and water pollution monitoring, etc. Green process is forecasted to be the most profitable segment in the market. Green building is a combination of architecture and environmentally friendly operation, making optimal use of resources throughout the entire completion cycle of a building: from planning, design, construction. construction, operation, maintenance, renovation and demolition.

At the same time, Research and Markets ‘ report surveys markets including Europe, Asia-Pacific, North America and LAMEA (including Latin America, the Middle East and Africa). The green and sustainable technology market thrives in North America in 2020 and will maintain its leading position in the green technology market over the forecast period. This is explained by the adoption of energy-saving technology in North America and the increase in government initiatives to reduce carbon emissions.

However, Asia-Pacific is expected to witness significant growth between 2021 and 2030, due to the emergence of green technology, which has emerged as an ecological innovation method in the region. area.

According to Enable Startup , the market size and growth offer great potential for green technology startups in Asia. In Southeast Asia, many green technology application startup ideas were born to solve environmental and economic problems.

Some prominent models in Southeast Asia include Verdigris Technologies, Sensorflow, which are applications that use advanced technologies such as AI and cloud computing to solve energy problems. Too Good To Go is a free smartphone app that helps shops and restaurants sell leftovers. The idea could be perfectly applicable in Southeast Asian countries, as more than 50% of the total volume. Waste in the area comes from food waste. Besides, consumers’ awareness of environmental issues is increasingly improving, especially among Millennials and Gen Z.

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