.
The global Green Technology & Sustainability Market is projected to reach USD 29.0 billion by the end of 2024 and is expected to expand significantly, reaching USD 193.9 billion by 2033 with a CAGR of 23.5%. This growth is fueled by regulatory efforts to lower carbon emissions, increased public awareness of environmental issues, and the rising adoption of renewable energy, particularly solar and wind power.
The U.S. Green Technology & Sustainability Market is expected to reach USD 10.1 billion by 2024 and grow to USD 60.7 billion by 2033 at a CAGR of 22.0%. This growth is driven by the country’s strong focus on sustainability and renewable energy, as well as the increasing demand for electric vehicles.
The solutions segment is expected to capture the largest share of revenue, making up 69.5% by 2024. Cloud-based deployment is projected to contribute significantly to market revenue by the end of 2024. The Internet of Things (IoT) is forecasted to generate the highest revenue, accounting for 45.2% by 2024.
The Energy & Utilities sector is expected to lead, representing 24.1% of the market’s revenue by 2024. North America is predicted to hold the largest market share globally, with 40.2% by 2024.
The demand for cloud infrastructure is rising due to its ability to optimize resources and enhance energy efficiency, making it essential for a sustainable IT strategy. Virtualization enables a single server to support multiple systems, improving resource efficiency and driving the global adoption of cloud computing.
Companies are focusing on technological advancements and acquisitions to stay competitive, boosting the green technology and sustainability market. This strategic focus on innovation and acquisitions is expected to propel further growth in the global market.
In summary, the global Green Technology & Sustainability Market is expected to experience significant growth in the coming years, driven by regulatory efforts, public awareness, and technological advancements. The U.S. is a key player in this market, with a strong focus on sustainability and renewable energy. Cloud computing and virtualization are also playing a crucial role in driving the market forward. Companies are actively investing in innovation and acquisitions to stay competitive in this highly competitive market.