According to a research report "Green Technology and Sustainability Market by solution (Internet of Things [IoT], Artificial Intelligence [AI] and analytics, digital twin, cloud, security, and blockchain), application (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), and region. - Global Forecast to 2025" published by MarketsandMarkets. The 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.
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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 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.
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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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