Green Technology and Sustainability Market to Soar to USD 135 Billion by 2032

According to the latest market research study published by P&S Intelligence, the green technology and sustainability market, forecasting the market to grow from USD 27.6 billion in 2024 to USD 135 billion by 2032, at a robust CAGR of 22.1% during 2025–2032. The market’s rapid expansion is fueled by growing environmental concerns, increasing regulatory pressures, rising consumer demand for eco-friendly products, and advancements in renewable energy and resource-efficient technologies.

Market Drivers and Emerging Trends

The green technology and sustainability market is undergoing a transformative phase, driven by investments in solar and wind power, electric vehicle adoption, and green infrastructure development. Key growth drivers include:

• Sustainable Urban Development: Building automation systems and smart city solutions are increasingly integrated to optimize energy use and reduce carbon emissions.
• Technological Integration: AI, big data analytics, IoT, and cloud computing platforms empower organizations to monitor emissions and implement effective sustainability strategies.
• Power Purchase Agreements (PPAs) in ICT: As demand for 5G, IoT, AR, and VR grows, companies are investing in renewable energy for data centers to reduce costs, ensure sustainability, and strengthen brand reputation.
• Cloud Computing and Green Data Centers: The shift toward cloud services and sustainable data infrastructure is driving demand for scalable and energy-efficient solutions.

Market Segmentation Highlights

Component: Solutions dominate with 70% market share in 2024, while services are poised for faster growth at 23% CAGR, driven by cloud migration, system integration, and consulting services.

Technology: IoT leads the market at 40% share due to real-time energy and carbon management, with cloud computing set to grow fastest at 23.5% CAGR.

Application: Carbon footprint management holds the largest share at 35%, while green buildings are the fastest-growing segment at 23.8% CAGR, fueled by smart energy and water management systems.

Organization Size: Large enterprises represent 60% of the market, whereas SMEs are growing fastest at 24% CAGR, supported by tax incentives and grants.

Deployment Mode: Cloud solutions account for 55% of market share, while on-premises deployment is expanding at 23.8% CAGR for enhanced security and regulatory compliance.

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Regional Insights

• North America: Largest market with 40% share in 2024, driven by government policies, corporate investments in sustainability, and leading tech companies like Microsoft, Tesla, and Google.
• Asia-Pacific: Fastest-growing region at 24.1% CAGR, with China and India leading in renewable energy, smart infrastructure, and electric mobility adoption.

Competitive Landscape

The market is highly fragmented, with leading players including Schneider Electric, Microsoft, IBM, Siemens, NVIDIA, and General Electric. Recent developments include Schneider Electric’s AI-driven energy efficiency solutions and collaborations with NVIDIA to enhance AI data center infrastructure.

Future Outlook

With global industries prioritizing sustainability, green technology is becoming a foundational component of corporate strategy. Continued adoption of renewable energy, digital sustainability tools, and carbon management systems is expected to accelerate market growth and position green technology as an essential driver of global environmental progress.

About P&S Intelligence

P&S Intelligence offers custom and syndicated market research and consulting services to clients across the globe. Our team of young and dynamic researchers, guided by mentors with years of experience, create data-rich reports tailored to the needs of MNCs as well as startups and SMEs. We remain in a perennial quest to offer exhaustive insights into every aspect of the market, allowing businesses of all sizes to seize even the smallest of opportunities and tackle even the biggest of challenges.

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