In a world where sustainability has taken center stage, economies are uniting behind ambitious goals to combat carbon emissions. CleanTech is set to rise as the predominant source of global electricity generation, surpassing coal, and accounting for a remarkable 38% by 2025. This shift offers an unprecedented opportunity for businesses within the CleanTech industry, a sector projected to reach a staggering USD 380-400 Bn by 2030. Simultaneously, it is expected to create around 35,000 net-new jobs through a dynamic ecosystem of over 2,000 Independent Software Vendors (ISVs).
Industries ranging from Energy & Utilities, Tech & Software Providers, to Retail & CPG are at the forefront of embracing Clean Technologies. CleanTech ISVs are propelling innovation, particularly in Smart Grids and Sustainable Batteries, focusing on grid management, alternative fuel integration, and battery manufacturing solutions. The commitment of over 400 global enterprises to achieving 100% CleanTech through initiatives like RE100 underscores the market’s vast potential. With companies across the value chain ready to adopt CleanTech solutions, enterprise integration is gaining momentum, fortified by Artificial Intelligence (AI), Internet of Things (IOT), and Cloud Technologies. This opens up significant possibilities for hyperscalers to collaborate within their partner ecosystems, co-designing and co-developing CleanTech capabilities to accelerate positive change.
Amid mounting environmental concerns, the urgency for CleanTech is paramount. But why now? The answer lies in the undeniable challenges we face today.
By 2030, an additional 1.2 Bn vehicles are estimated to hit the roads, contributing to a disturbing 30% rise in air pollution. A ~4° Celsius/39.2°F rise in temperature due to emissions could lead to a worrying 4% increase in mortality rates. The allocation of nearly USD 900 Bn in 2022 to fossil fuel subsidies has further escalated the consumption of non-renewable resources.
Despite a transition towards cleaner fuels, 85% of our energy consumption still hinges on Oil, Coal, and Natural Gases. This over-reliance has far-reaching consequences, particularly highlighted by energy insecurities within the European Union due to disruptions in fossil fuel supply. Adding to these challenges, our outdated power generation infrastructure grapples with equipment constraints, limiting energy production.
The time is perfect to turn the tide, to harness the potential of CleanTech and shape a cleaner, healthier, and more sustainable future for all.
CleanTech Energy Technologies have surged with global investments reaching USD 1.1 Tn in FY 2022, covering renewables, energy storage, and Carbon Capture, Utilization and Storage (CCUS). The trajectory of this growth is further underscored by key growth hotspots in China, the US, and India, collectively projected to drive two-thirds of the global clean energy capacity expansion. Within this transformative journey, global listed companies have dedicated a remarkable USD 117 Bn to energy R&D, with a substantial portion, USD 51 Bn, invested in the Automotive sector. As we look ahead, the burgeoning demand for sustainable battery technology has ignited a surge in demand for electrification. By 2030, an estimated 350 Mn EVs are set to hit the roads, sparking a surge in innovation and development.
Our POV titled, “Fast-forwarding Enterprise CleanTech for Next-gen Energy Transition,” provides meticulously curated insights and data, to equip you with an understanding of the global CleanTech landscape. These insights are poised to be the catalysts for change – the driving force propelling us towards a sustainable and prosperous world.