Growing concerns for maintaining environment health along with increased foreign and domestic investments in green technologies drives the demand for green technologies and sustainability market
The global green technologies and sustainability (MNS) market size is projected to reach at USD 23 billion by 2025. The factors such as rapidly impending grid parity, reliable and cost-effective grid integration, along with technological advancements that help in eliminating the deployment of renewable energy systems are likely to fuel the growth of green technology and sustainability market over the forecast period.
Green technology refers to using science & technology so as to conserve the environment. A lot of methods fall under this term including the use of environmental monitoring, green chemistry, and more. Green technologies play a vital role in enhancing the nation’s economic progress towards sustainability and facilitating a substitute socio-economic model so as to enable the present and future generations for a healthy and clean environment.
The global green technology and sustainability market contains digital twin, artificial intelligence (AI) & analytics, cloud computing, internet of things (IoT), security, and block-chain. The internet of things (IoT) segment has gathered the largest market share within the global green technology and sustainability industry in 2019. This is predominantly owing to a high growth of IoT equipment and devices as a functional part in the green technology and sustainability with minimum carbon emission. The block-chain segment is anticipated to grow at a significant growth rate from 2020 to 2025.
The global green technologies and sustainability market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global green technologies and sustainability market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the green technologies and sustainability applications, owing to an outsized presence of organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the green technologies and sustainability market in North America.
The major players of the global green technology and sustainability market are IBM, Enablon, Enviance, Sensus, General Electric, Taranis, LO3 Energy, ConsenSys, Trace Genomics, CropX, , SMAP Energy, Treevia, Hortau, Pycno, and more. The green technology and sustainability market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Green Technology and Sustainability Market
Technology Overview, 2018-2025 (USD Billion)
- Internet of Things (IoT)
- Artificial Intelligence (AI) & Analytics
- Digital Twin
- Cloud Computing
Application Overview, 2018-2025 (USD Billion)
- Fire Detection
- Carbon Footprint Management
- Soil Condition/Moisture Monitoring
- Green Building
- Water Purification
- Water Leak Detection
- Weather Monitoring & Forecasting
- Crop Monitoring
- Forest Monitoring
- Air & Water Pollution Monitoring
- Sustainable Mining & Exploration
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America