By 2030, it is anticipated that the global market for green technology and sustainability will be worth $74.64 billion, growing at a CAGR of 21.9% from 2021 to 2030.
Sustainable or environmental technology is referred to as "green" or "eco-technology". It includes an ever-expanding range of processes, products, and materials, from energy production methods to non-toxic cleaning agents.
It takes into account the immediate and long-term effects on the environment. In this blog, we emphasize the value of green technology and the various green technology companies paving the way ahead for the future.
Green technology is a form of technology that is ecologically beneficial due to its manufacturing process or supply chain. Other terms for "green technology" include "clean energy," "alternative fuels," and "technologies that are less harmful to the environment than fossil fuels."
The increased awareness of the effects of climate change and the depletion of natural resources has led to tremendous investor interest in the green technology sector, even though it is still in its infancy.
The term "green technology" refers to the use of science and technology to produce goods and services that are environmentally beneficial. Cleantech, which describes products or services that improve operational effectiveness while reducing costs, energy consumption, waste, or adverse environmental effects, is related to green technology.
Green technology aims to protect the environment, repair previous environmental harm, and preserve the planet's natural resources. Furthermore, green technology has developed into a booming industry that has made enormous sums of money.
According to a new IEA analysis of the most recent statistics from around the world, CO2 emissions from the use of fossil fuels worldwide are expected to rise by almost 300 million tonnes to 33.8 billion tonnes in 2022. Unfortunately, fossil fuels are non-renewable and will be depleted soon, so people must move to greener alternatives. People can continue to collect energy from nature using green technology, such as solar panels, wind turbines, dams, and geothermal wells, among other things.
Alternative energy means that fossil fuels will not be depleted, greenhouse gases will be reduced, and global warming will be slowed.
Electric scooters and the use of green products are just a couple of the environmental-friendly applications of green technology. However, given that green technology is the answer to current environmental issues like global warming, greenhouse gas emissions, and wildlife protection, its growth is not surprising.
The goal of green technology is to substitute less disruptive or resource-conserving goods, processes, or materials with those that are more damaging to the environment.
But do we truly require green technology?
Doesn't technology already harm the environment?
On the contrary, when used wisely and correctly, technology delivers solutions. So, here are some of the reasons why we need to do so now more than ever.
Green technology also provides solutions such as green structures, eco-friendly battery technologies, and metallic foams. Furthermore, researchers are constantly developing new ways to generate energy through the use of technologies such as lithium-air batteries, fuel cells, and thermal energy collectors.
Here’s a list of the top 8 green technology companies that are investing in sustainable solutions across various business verticals:
Adobe is a high-tech, international business that offers software services. Adobe is committed to running its digital operations and delivering green energy, specifically through wind and solar energy. In order to reduce its carbon impact and create a sustainable future, Adobe has made a long-term commitment to supply its products entirely powered by renewable electricity by 2035.
By primarily sourcing its energy needs from renewable sources, Sony makes use of green energy. It buys 88,000,000 kWh of green energy annually, which accounts for nearly 37% of its total energy use. The company's desire to reduce its harmful environmental effects and greenhouse gas emissions influences its motivation to employ green energy.
One of the leading technology corporations in the world, HP (Hewlett Packard), is also staying caught up when it comes to the use of renewable energy. The company uses green energy to power around 20% of its technology and services, enabling customers all over the world to improve their IT productivity.
Google must be included in the use of green energy because it is one of the most vocal supporters of green energy. Google has been carbon neutral since 2007, using around 735 million kWh of green energy per year.
Because it is more stable than traditional power grid systems, the majority of the energy is used to power its data centres. Google is also constantly looking for new methods to harness and use green energy to improve sustainability and operational efficiency in businesses that rely significantly on power.
Intel is the world's leading maker of computer CPUs. It leads the way in using green energy, consuming up to 3 billion kWh each year. Furthermore, Intel's office has 18 on-site solar panels with a total capacity of 7,000 kW. The company plans to continue increasing and developing renewable energy sources in order to function entirely on green energy.
Apple may not be the greatest consumer of green energy, but it is one of the top IT corporations in terms of energy efficiency. Apple's annual use of green energy is estimated to be 635 million kWh. Apple's use of green energy is motivated by the company's goal of having a zero-carbon impact. It has purchased a number of solar farms to ensure the sustainability of its data centres. Apple is also working to make its entire store 100% energy efficient through the usage of green energy.
Philips Lighting is a market leader in producing lighting fixtures, including LED products. Additionally, it offers lighting systems and services. As a result, Philips Lighting manufactures and processes its goods using sustainable electricity from solar and wind. The business also exhorts its consumers to buy green energy for their electricity needs.
AMP Robotics is upgrading the world's recycling infrastructure by leveraging artificial intelligence and automation to boost recycling rates and cheaply recover recyclables recycled as raw materials for the global supply chain. The AMP CortexTM high-speed robotics system automates recyclable detection and sorting from mixed material streams.
Both large and small businesses are leaning toward green technology. These businesses are powerful and adept at adapting their plans of action to shifting conditions. These companies are fantastic examples of businesses utilizing green technologies. Future technology will be green. We trust you now fully see the advantages of employing green technology. Start putting it into practice in your company today for a better and healthier future.
Read More: The History of Green Technology