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 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.
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.
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