Asia Green Technology and Sustainability Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Asia Green Technology and Sustainability Market Size

Asia Green Technology and Sustainability Market Trends & Drivers

Accelerating GHG Emissions Drive Market

The main contributor to the increase in the carbon dioxide (CO2) concentration in the atmosphere is human and industrial activities, specifically the burning of fossil fuels, including coal, oil, and gas, as well as deforestation. Over the past few years, Asia, particularly China, has emitted carbon at an alarming rate, driven by the rapid economic growth and energy consumption. Among all the emission sources, coal accounted for more than 60% (7.96 billion tons) of the emissions from industries in the country in 2021.

Further, the expanding manufacturing base in developing countries, particularly China and India, drives carbon emissions. Due to the resulting environmental concerns, consumers are demanding eco-friendly products, which has given impetus to companies offering green solutions. Such solutions include carbon footprint monitoring software, crop monitoring software and devices, and air and water quality monitoring devices. Based on technologies such as AI, big data analytics, IoT, and cloud computing, these solutions help users monitor the carbon emissions from manufacturing and other activities.

Asia Green Technology and Sustainability Market Analysis

Rapid Integration of IoT Propels Market Growth

The IoT category accounted for the largest revenue share, of 42.6%, in 2023, and it is projected to witness the fastest growth over the forecast period, owing to the benefits of this technology in terms of product sustainability and eco-friendly manufacturing.

The growth in the demand for IoT devices is attributed to the advancements in IoT sensor technologies, wireless connectivity, and the sustainable outcomes, which are encouraging a large number of companies to embrace digital transformation. With IoT solutions, companies are pivoting toward more-energy-efficient practices and organizing operational processes in a way that reduces waste. Companies are using IoT for sustainability in seven different ways—smart energy management, air pollution monitoring, smart waste management, fleet management, smart water management, smart farming, and cold chain monitoring.

Rampant Construction of Energy-Efficient Green Buildings

Green buildings held the largest share, of around 40.4%, in 2023. With the augmenting commercialization and industrialization across Asian countries, the construction of buildings has been growing, in order to meet the space requirements of businesses and residents. As a consequence of the resulting rise in energy production, carbon emissions are increasing at an alarming rate. Therefore, to cope with the augmenting energy requirements without harming the environment, the integration of green technologies in buildings has been on the rise. Green buildings are crucial in mitigating the negative externalities associated with construction activities. From the perspective of reducing greenhouse gas emissions and energy use, green buildings have significant contributions, due to their usage of recyclable materials, renewable energy, and low-carbon components and sustainable operation and maintenance patterns.

These eco-friendly building technologies are primarily aimed at reducing the consumption of electricity and using only the energy produced onsite via rooftop solar, building-integrated PVs, and other similar renewable installations, such as energy-efficient windows, green roofs, and aluminum weather-resistant insulated access panels. By reducing waste generation and energy consumption, green buildings aid in lowering carbon emissions and, thus, contribute strongly to the demand for green solutions.

ESGB, LEED, and BREEAM have been adopted as green building evaluation standards in China. By 2021, there were approximately 24,700 green building projects with the ESGB certification, thus making the country a major contributor to green building construction. Further, the implementation of smart city projects has become more prevalent in an effort to transform urban areas, by deploying energy-efficient resources. The green solutions deployed in smart cities mainly include green buildings, smart waste management, leak management, and smart energy, which help in mitigating carbon emissions. Some Asian countries, such as China, India, Japan, the U.A.E., Saudi Arabia, and South Korea, are actively mandating sustainable smart solutions, which is supporting the demand for green solutions across the region to maintain sustainability.

Market Breakdown

The report analyzes the impact of the major drivers and restraints on the Asian green technology and sustainability industry, to offer accurate market estimations for 2019–2030.

Based on Component

• Solutions
• Services
  • Consulting
  • Support & maintenance
  • Integration & deployment

Based on Technology

• Internet of Things (IoT)
• Artificial Intelligence (AI) & Analytics
• Blockchain
• Cloud Computing
• Digital Twin

Based on Organization Size

• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprise

Based on Deployment Mode

• Cloud
• On-Premises

Based on Application

• Green Buildings
• Carbon Footprint Management
• Air Pollution Monitoring
• Water & Wastewater Management
• Weather Monitoring
• Soil Conditioning/Crop Monitoring
• Fire Detection
• Forest Monitoring

Geographical Analysis

• China
• Japan
• India
• South Korea
• Saudi Arabia
• U.A.E.
• Philippines
• Singapore

Top Asia Green Technology and Sustainability Companies