Dublin, July 10, 2024 (GLOBE NEWSWIRE) -- The "United States Green Technology Sustainability By Region, Competition, Forecast and Opportunities, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
The United States Green Technology Sustainability Market, valued at USD 3.9 billion in 2023, is on a trajectory for substantial growth with an expected CAGR of 20.7% through 2029
The market is driven by several factors, including stringent environmental regulations, increased consumer demand for eco-friendly solutions, and technological advancements that foster innovative green solutions. With the government’s supportive policies and incentives, the market is undergoing a transformation across sectors like renewable energy, waste management, and sustainable transportation.
A significant driver for the market is the economic viability and potential cost savings associated with green technologies. Further, businesses’ sustainable investments are yielding long-term benefits. With the embrace of sustainability, companies are not only contributing to a cleaner environment but are also experiencing reduced operational costs and enhanced efficiency.
Challenges to Address
Despite the market's robust growth, challenges such as the initial high costs for technology adoption and the need for standardization hinder broader acceptance. Overcoming these challenges is crucial to maintaining the upward momentum, requiring efforts to educate the public, standardize measures, and alleviate financial barriers for businesses, especially SMEs.
Emerging Trends and Sector Insights
The market is currently observing several key trends. There is a marked increase in renewable energy adoption and an integration of AI to boost energy efficiency. Moreover, the shift towards circular economy practices and sustainable supply chains is becoming more pronounced. The domain of eco-friendly transportation solutions and the emerging practice of sustainable building and green construction are reshaping industries and consumer practices.
Regional and Segment Focus
Regionally, the North-East U.S. leads the market with a strong commitment to renewable energy and sustainable initiatives. From a component perspective, the Solutions segment, including renewable energy systems and energy-efficient technologies, dominates the market. Cloud deployment is prominent over on-premise solutions, owing to its scalability and flexibility.
The United States Green Technology Sustainability Market is at the nexus of economic opportunities and environmental stewardship, set to thrive amidst constructive policy frameworks and transformative market drivers.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 86 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $3.9 Billion |
| Forecasted Market Value (USD) by 2029 | $12.17 Billion |
| Compound Annual Growth Rate | 20.7% |
| Regions Covered | United States |
A selection of companies mentioned in this report includes, but is not limited to:
- Tesla, Inc.
- IBM Corporation
- General Electric Company
- Siemens AG
- Johnson Controls International plc
- Schneider Electric SE
- First Solar, Inc.
- Covanta Holding Corporation
- Waste Management, Inc
- Bloom Energy Corporation
For more information about this report visit https://www.researchandmarkets.com/r/i4fa3k
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