The global green technology & sustainability solutions market is anticipated to grow at a significant CAGR during the forecast period. The rising global concern towards global warming and climate change are the major driving factors for the market. Under the Paris agreement 2015, around 196 nations had committed to reducing the carbon emissions from their countries by 2030. Due to this, various nations had issued sustainability strategies for the industries to be followed which focused on designing energy-efficient products and power supplies. Such global initiatives to reduce global warming are expected to drive the market of green technology and sustainability during the forecast period.

Pollution control is one of the major applications that increase market demand. According to the World Health Organization, around 4 billion people which is 2/3 of the global population experiences severe water scarcity for at least one month. Several green technologies and sustainability solutions are developed to supply fresh drinking water to the people living in water-scarce regions. In October 2015, Arturo Vittori, CEO of Warka Water Inc. had presented one such technology, Warka Tower in TEDxBangalore which draws out water from the air. Similarly, Monash University's researchers had developed a metal-organic framework (MOF) in August 2020 which can desalinate ocean water and serves around 139.5 liters of clean water every day. Thus, the rising R&D of getting sustainable technology for water treatment is expected to fuel the market growth during the forecast period.

Segmental Outlook 

The global green technology & sustainability solutions market is segmented based on the solution into software solutions and services. The software segment holds the major share in the global green technology and sustainability market. The rapid adoption of blockchain is the major factor in this growth. Many startups already use blockchain technology through data sharing in real-time. Blockchain-based cryptocurrency mining has surged very rapidly during 2020-2021, which is expected to support the market growth of blockchain-based green technology. Cloud computing technology is expected to grow significantly in the market as it provides ease of real-time remote access of all types of data including satellite images and weather. This had greatly reduced the use of paper which had reduced carbon emissions.

Global Green Technology & Sustainability Solutions  Market Share by Solution, 2020 (%)

Regional Outlooks

The global green technology & sustainability solutions market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, and Others), and the Rest of the World (the Middle East and Africa, and Latin America).  

Global Green Technology & Sustainability Solutions  Market Growth, by Region 2021-2027

North America is Expected to Grow Significantly in the Global Green Technology & Sustainability Solutions Market

The US had opted itself out of the Paris agreement in 2017. However, with the government change in 2021, the US had again joined the agreement regarding climate change. Thus, the North American region is now expected to grow significantly in the market during the forecast period. The European region had implemented several initiatives for reconstructing the forest lost during the ice age. Through extensive forest monitoring, they are establishing back the natural habitats of wild animals. Thus, continuous government support is expected to drive the European green technology and sustainability market during the forecast period.

Market Players Outlook

Some of the companies operating in the global green technology & sustainability solutions market include General Electric Co., IBM Corp., Microsoft Corp., Oracle Corp., Tech Mahindra Ltd., Accenture Plc, Capgemini SE, Enviance Inc., and others. The market players are considerably contributing to the market growth by adopting various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, Salesforce had launched Sustainability Cloud in September 2019. It is a carbon accounting product that enables businesses to quickly track, analyze, and report reliable environmental data for reducing their carbon emissions.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global green technology & sustainability solutions market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands in the market.