According
to a research report "Green
Technology and Sustainability Market by Technology (IoT, AI & Analytics,
Digital Twin, Cloud Computing), Application (Green Building, Carbon Footprint
Management, Weather Monitoring & Forecasting), Component, and Region -
Global Forecast to 2025"
published by MarketsandMarkets, The global Green Technology and Sustainability
market size to grow from USD 11.2 billion in 2020 to USD 36.6 billion by 2025,
at a Compound Annual Growth Rate (CAGR) of 26.6% during the forecast period.
Modernization of IT and telecom infrastructure for low carbon emission will
provide huge opportunities in the market. Moreover, the growing use of RFID
sensors across industries and increasing consumer and industrial interest for
the use of clean energy resources to conserve environment are driving the
adoption of green technology and sustainability solutions and services in the
market.
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The blockchain segment is estimated to grow
at the highest CAGR during the forecast period
The green technology and
sustainability market by technology has been segmented into IoT, AI and
analytics, digital twin, cloud computing, security, and blockchain. Various
startups are already using blockchain as a tool to make energy grids more
accessible and sustainable by promoting data sharing in real time.
Energy-intensive cryptocurrency mining has caused a spike in carbon emission,
and hence blockchain is capable of driving innovation in the field of green technology.
The cloud computing technology segment is expected to have the largest market
size during the forecast period. This growth can be attributed to the benefits
of the cloud to provide real-time remote access to data through sensors,
satellite images, and weather forecasting.
The solution segment is estimated to have
largest market size during the forecast period
The component segment
comprises of solution and services. The solution segment is estimated to
account for a larger market size during the forecast period. Protecting and
improving the quality of the environment requires innovative design solutions
that meet the increasing demand for sustainable and green technologies while
complying with more-stringent government regulations aimed at reducing the
overall carbon footprints. The advent of globalization and innovation
development has continuously exploited the environment.
The green building segment is expected to
account for the largest market size during the forecast period.
The green technology and
sustainability market by applications has been segmented into carbon footprint
management, green building, water purification, water leak detection, fire
detection, soil condition/moisture monitoring, crop monitoring, forest
monitoring, weather monitoring and forecasting, air and water pollution
monitoring, and sustainable mining and exploration. The green building segment
is projected to account for the largest market size due to the increasing focus
on green technology and sustainability while designing and constructing
buildings. Technologies, such as AI and analytics, IoT, predictive maintenance,
and blockchain, find multiple use cases in this application and have the
potential to change how buildings are designed, built, and managed. Green
building, also known as sustainable or high-performance building, refers to the
practice of creating structures and deploying processes that are
environmentally responsible and resource-efficient throughout a buildings life
cycle from siting to design, construction, operation, maintenance, renovation,
and deconstruction.
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Asia
Pacific to grow at the highest CAGR during the forecast period
The
green technology and sustainability market has been segmented into five
regions: North America, Europe, APAC, MEA, and Latin America. North America is
projected to account for the largest market size by 2020, majorly due to the
broad base of green technology and sustainability vendors in the region.
Vendors are focused on R&D and integration of advanced technologies to
serve the challenge of climate change and the increasing levels of emissions,
pollution, and waste. The APAC is expected to be a favorable market for
investments and has the highest CAGR during the forecast period. This growth
can be attributed to the focus of developing countries, such as China, India,
and Singapore, on the integration of advanced clean technologies to enhance
business processes and promotes sustainable developments.
Key
players in The Green Technology And Sustainability Market include GE
(US), IBM (US), Enablon (France), Salesforce (US), Microsoft (US), Schneider
Electric (France), Engie Impact (US), Intelex (Canada), Enviance (US), Sensus
(US), LO3 Energy (US), Isometrix (South Africa), Taranis (Israel), Trace
Genomics (US), ConsenSys (US), CropX (Israel), Hortau (US), IOT Solutions and
Consulting (Europe), Pycno (UK), MineSense Technologies (Canada), WINT (US),
OIZOM (India), Treevia (Latin America), SMAP Energy (UK), and Accuvio
(Ireland). These companies are continuously innovating to enhance their green
technology and sustainability capabilities for better efficiency and
reliability, thereby paving the way for the global green technology and
sustainability market to emerge as a mainstream technology.
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