GREEN TECHNOLOGY AND SUSTAINABILITY MARKET ANALYSIS

Green Technology And Sustainability MarketSize and Trends

The global green technology and sustainability market size was valued at US$ 14.28 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 12% from 2023 to 2030. The global green technology and sustainability market is booming, largely due to the rising need for effective pollution monitoring and control. Along with this, there has been an increase in the number of initiatives by governments and private companies to promote environmental conservation, which is also driving the market growth.

Figure 1: Global Green Technology and Sustainability Market Share (%), in terms of Value, By Region, 2022

Global Green Technology and Sustainability Market Trends:

Cloud computing segment gaining traction among Technologies

Cloud infrastructure are developed for addressing two major elements of a sustainable IT approach; resource and energy efficiency. Due to which, virtualization is an important part of deploying cloud infrastructure for allowing a physical server to run various operating system images to improve resource efficiency. As a result, the adoption of cloud computing is increasing all over the world. This trend is expected to continue in the global green technology and sustainability market in the coming future.

Growing focus of market players on developments, acquisition, and innovations

Increasing number of market players are focusing on gaining a competitive edge through technological advancements, innovations, and acquisition. This trend is anticipated to support growth of the global green technology and sustainability market over the forecast period. For instance, in May 2022, MetaVerse Green Exchange in partnership with Red Dot Analytics for introducing carbon-neutral data center operations powered by blockchain and AI. With this partnership, the companies will be assessing and mitigating the carbon footprints of data centers in tropical regions.