The green technology and sustainability market is expected to reach $51.09 billion by 2029, up from $13.76 billion in 2022, according to Fortune Business Insights. That’s a compound annual growth rate (CAGR) of 20.6%.
That sounds like a massive market opportunity for technology partners and IT consulting firms. But take a closer look, and partners will need to carefully select key market segments within the larger green technology universe. Example segments, according to the report, include:
- Air and water pollution monitoring;
- Carbon footprint management;
- Crop monitoring;
- Fire detection;
- Forest monitoring;
- Green building;
- Soil condition & moisture monitoring;
- Sustainable mining and exploration;
- Water management; and
- Weather monitoring and forecasting.
As a potential first step, partners can focus on green data centers. In addition to aligning with cloud-scale players such as Amazon Web Services (AWS), Google Cloud and Microsoft Azure -- each of which is backed by major sustainability commitments.
Meanwhile, multiple technology startups and established firms may also help partners on their green data center and IT journeys. Potential examples, according to Sustainable Technology Partner, include: