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Green Technology and Sustainability Market 2021 Present Scenario on Growth Analysis and High Demand to 2027

Summary

The global Green Technology and Sustainability Market size to grow from USD XX billion in 2020 to USD 36.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 26.6% during the forecast period. Latest added Green Technology and […]

The global Green Technology and Sustainability Market size to grow from USD XX billion in 2020 to USD 36.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 26.6% during the forecast period.

Latest added Green Technology and Sustainability Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2027. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are CropX, LO3 Energy, Oracle Corporation, Tech Mahindra Limited, Enablon France SA. Enviance, General Electric, Hortau, IBM Corporation. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.

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This report studies the Green Technology and Sustainability Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Green Technology and Sustainability Market by companies, region, type and end-use industry.

Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on “Green Technology and Sustainability Market, By Component (Solution, Services), Technology (Internet of Things, Cloud Computing, Artificial Intelligence & Analytics), Application & Geography – Global Forecast To 2027”. Early buyers will get 10% customization on study.

To Avail deep insights of Green Technology and Sustainability Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.

Unlock new opportunities in Green Technology and Sustainability Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.

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The growing consumer and industrial interest for the use of clean energy resources to conserve environment and increasing use of RFID sensors across industries are driving the adoption of green technology and sustainability solutions and services in the market.

COVID-19 Impact on Green Technology and Sustainability Market

COVID-19 has both positive and negative effects on the market as due to lockdown, carbon emission has reduced across the world. The drop-in emissions due to COVID-19 is a short-term gain; however, post-re-start of industries and businesses look to recoup some of their financial losses through the start of the year, it will actually lead to a much higher level of carbon emissions. COVID-19 has had a damaging effect on recycling efforts across the world. Countries, including the US, have stopped or reduced their recycling programs in an effort to focus on the collection of extra household waste or because services had been affected by the virus. COVID-19 has also affected several company’s revenues and when lockdown ends companies will start focusing on operations to recover their losses; this might lead to shifting their focus from green technologies for their business to avoid additional costs.

Market Dynamics

Driver: Increasing use of RFID sensors across industries

IoT has been used to describe several technologies and research disciplines that enable global connectivity over physical objects. Enabling technologies, such as RFID, sensor networks, biometrics, and nanotechnologies, are now becoming common, bringing IoT forward to address various applications, including smart grid, eHealth, and intelligent transportation. Sensors and smart devices, which are communicating via high-speed data, are able to perform certain functions autonomously, calling for new forms of green communication between various smart devices, where power consumption is optimized, and bandwidth utilization is maximized. For instance, smart agricultural sensors collect weather conditions, soil quality, and crop growth progress data. This data can be used to track staff performance and equipment efficiency. Smart devices can automate processes across the production cycle—from irrigation and fertilizing to pest control. RFID tag and sensor association could provide a lot of new solutions to support green projects, such as more efficient energy production chain, waste management, and recycling. Nanotechnology is helping manufacturers in effective manufacturing, which is further helping reduce waste drastically.

Restraint: High product cost associated with green technology solutions

The capital cost of building and installing solar and wind farms is high. Like most renewables, solar and wind fields are exceedingly cheap to operate since their fuel is free and maintenance is minimum; hence, most of the expense is spent on building technology-based products or solutions. Air quality monitoring, carbon footprint management, and air and water pollution monitoring are a few applications where the implementation of cutting-edge technologies, such as AI, IoT sensors, and analytics, require high maintenance costs. For instance, considering air quality monitoring software, which is used for analysis and testing of air quality parameters, the detection of chemical and biological components from the air requires the use of advanced cutting technologies, such as gas sensors, RFID, and PCR-based biosensors, where the cost of these technologies is high.

Opportunity: Modernization of IT and telecom infrastructure for low carbon emission

Technology companies are looking for ways to reduce the energy consumption of their products. Companies are focusing on designing energy-efficient products, power supplies, and integrated circuits to be energy-efficient, and creating co-operative solutions to help customers reduce their carbon emissions. Environment-friendly corporate practices reduce business risks, improve reputation, and generate enormous market opportunities in the green technology and sustainability market. In the recent wireless era, numerous devices are using wireless technology in their day-to-day activities; these wireless devices consume a large amount of energy and emit a considerable amount of carbon while being used. Technological companies are presented with an opportunity to not only reduce the energy consumption in these wireless devices but also minimize the amount of carbon emitted by these devices. Technology giants, such as Apple, are helping their manufacturing partners lower their carbon footprint by working along with them to install more than four gigawatts of new clean energy worldwide by 2020.

Challenge: Lack of regulations for green technology

The adoption of green technology requires a uniform legal framework. Since various products are initially developed in industrialized countries, technology transfer from developed to developing countries is a necessary part of the green technology and sustainability process. In most of the countries, there is no dedicated consigned body to govern these policies; these countries implement regulatory policies based on their regional factors, such as macroeconomic and political risk factors, along with their business requirements. Enterprises have been implementing green technology with the help of IoT, AI, analytics, cloud, and security solutions to better manage business risks and comply with regulations. The varying structure of regulatory policies, along with the changing macroeconomic factors, makes it difficult for vendors to meet the end-user requirements. Some organizations, especially in regions where there are no proper governing and regulatory bodies, tend to implement in-house regulatory guidelines and policies.

The solution segment is expected to have largest market size during the forecast period

The component segment comprises solution and services. The solution segment is estimated to account for a larger market size during the forecast period. The advent of globalization and innovation development has continuously exploited the environment. Emerging technologies facilitate new pathways toward green technology and sustainable development, which also has taken into consideration their social, economic, and environmental dimensions. Hence, the rise in the awareness of technology causing environmental hazards is a major factor that drives the adoption of green technology and sustainability solution among verticals across the globe, which, in turn, drives the green technology and sustainability market growth.

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.

The green building segment is expected to account for 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 during the forecast period. 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 building’s life cycle from siting to design, construction, operation, maintenance, renovation, and deconstruction. The practice complements the classical building design with aspects of economy, utility, durability, and comfort. The major considerations include energy and water efficiency, resource efficiency, indoor environmental quality, and the building’s overall impact on the environment

North America to hold the largest market size 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 technologies to enhance business processes.

Key Market Players

The green technology and sustainability vendors have implemented various types of organic as well as inorganic growth strategies, such as new product launches, product upgradations, partnerships and agreements, business expansions, and mergers and acquisitions, to strengthen their offerings in the market. Key players in the green technology and sustainability market includeGE (US), Enablon (France), Salesforce (US), Microsoft (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.

Scope of the report

This research report categorizes the green technology and sustainability market based on component, technology, application, and region.

By component:

  • Solution
  • Services
    • Consulting
    • Integration and deployment
    • Support and maintenance

By Technology:

  • IoT
  • AI and analytics
  • Digital twin
  • Cloud computing
  • Security
  • Blockchain

By 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
  • Sustainable mining and exploration

By region:

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Recent Developments:

  • In January 2020, GE Hitachi Nuclear Energy and TerraPower collaborated to design and construct the VTR for the US DOE. This collaboration brings together a strong team of engineers and scientists with considerable experience in sodium reactor technology.
  • In September 2019, Salesforce announced Sustainability Cloud, a carbon accounting product for businesses. Salesforce’s Sustainability Cloud enables businesses to quickly track, analyze, and report reliable environmental data to help them reduce their carbon emissions.
  • In May 2019, IBM launched the Watson Decision Platform for agriculture. The platform combines AI, predictive analytics, IoT sensors, and weather data to provide farmers insights on harvesting, spraying, planting, and plowing.
  • In April 2019, GE Renewable Energy announced the opening of a Remote Operation Center (ROC) in Barcelona, Spain. This will be a local hub for digital innovation to further promote agile development and integration between all the company’s ROCs across the globe.
  • In June 2018, Enablon partnered with OSIsoft which enable companies to leverage real-time data from assets, machines, and IoT devices via OSIsoft’s PI System in Enablon’s EHS, Operational Risk, and Sustainability software platform.

 

Frequently Asked Questions (FAQs)

  • What is Green Technology?

Green technology is an applicable combination of advanced tools and solutions to conserve natural resources and environment, minimize or mitigate negative impacts from human activities on the environment, and ensure sustainability development. Green technology is also referred to as clean technology or environmental technology which includes technologies, such as IoT, AI, analytics, blockchain, digital twin, security, and cloud, which collect, integrate, and analyze data from various real-time data sources, such as sensors, cameras, and Global Positioning System (GPS)

  • Which countries are considered in the European region?

The report includes analysis of Germany, UK, and France in the European region.

  • Which are the major factors supporting the growth of green technology and sustainability market?

The increasing awareness related to environmental concerns and the growing consumer and industrial interest for the use of clean energy resources are driving the growth of the green technology and sustainability market.

  • Who are the key vendors in the green technology and sustainability market?

The key vendors operating in the green technology and sustainability marketGE (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 vendors have adopted different types of organic and inorganic growth strategies such as new product launches, product enhancements, partnerships, and mergers and acquisitions.

 

Some of the features of this Green Technology and Sustainability Market report:

  • Market size estimates: Green Technology and Sustainability market size estimation in terms of value ($M) shipment.Trend and forecast analysis: Market trend (2015-2020) and forecast (2021-2027) by end use and use industry.
  • Segmentation analysis: Green Technology and Sustainability market size by application and headset in terms of value and volume shipment.
  • Regional analysis: Green Technology and Sustainability market breakdown by key regions such as North America, Europe, and Asia & Rest of World.
  • Growth opportunities: Analysis on growth opportunities in different applications and regions in the Green Technology and Sustainability market.
  • Strategic analysis: This includes M&A, new product development, and competitive landscape in the Green Technology and Sustainability market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

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