Driven by unprecedented investments and concerted moves of governments, businesses, and other stakeholders, the green technology and sustainability market is projected to expand rapidly, touching $134.9 billion globally by 2030
The Green Technology and Sustainability Market is expected to surge from $28.6 billion in 2024 to $134.9 billion by 2030 globally, demonstrating a robust 29.5 percent CAGR, according to a recent report by Markets and Markets.
Driving this expansion are encouraging government regulations, substantial investments in cutting-edge research and development, escalating consumer demand for eco-friendly products, corporate sustainability initiatives, and international collaboration to combat climate change.
The report emphasises the pivotal role of individuals and green technology companies in shaping the convergence of sustainability and digital transformation. Informed choices, the adoption of sustainable technologies, and support for implementation collectively pave the way for a greener, more sustainable future where innovation and environmental stewardship harmonise seamlessly.
Noteworthy technologies such as artificial intelligence and machine learning are increasingly optimising energy consumption, predicting environmental trends, and crafting sustainable solutions. These technologies could significantly reshape the sustainability landscape.
Furthermore, the adoption of carbon pricing mechanisms and emissions trading schemes is set to incentivize businesses to curtail carbon emissions. Digital technologies will facilitate monitoring and reporting, streamlining compliance efforts for businesses.
As global efforts intensify to address climate change, the forecasted growth indicates a positive trajectory for environmentally friendly technology and sustainable methodologies, illustrating a promising future where innovation and environmental responsibility work hand in hand.