Sustainability market set for explosive growth by 2030

By Felicia Nwosu

The global green technology and sustainability market, valued at $19.07 billion in 2023, is projected to surge at a 22.9% annual growth rate through 2030. This according Market Research platform, is driven by rising environmental concerns and technological advancements.

The growth, it stated. is also fueled by increased awareness of climate change, prompting governments, businesses, and consumers to adopt sustainable practices and invest in renewable energy sources.

It also added that government policies and incentives promoting green technologies, alongside the integration of IoT, AI, and blockchain, are also key catalysts.

Solutions led the market in 2023, while services are expected to see the fastest growth. IoT dominated the technology segment, with cloud computing poised for rapid expansion.

Green buildings held the largest application share, but carbon footprint management is expected to grow fastest.

Regionally, North America led the market in 2023 due to significant regional investments. This expansion reflects a global shift towards sustainability, with technology playing a crucial role in mitigating environmental impact

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