Global Green Technology & Sustainability Market Report 2020: Green Building, Carbon Footprint Management, Weather Monitoring & Forecasting – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Green Technology & Sustainability Market by Technology (IoT, AI & Analytics, Digital Twin, Cloud Computing), Application (Green Building, Carbon Footprint Management, Weather Monitoring & Forecasting), Component, and Region – Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The Global Green Technology & Sustainability Market is projected 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.
The increasing awareness related to environmental concerns and the growing consumer and industrial interest for the use of clean energy resources are driving the adoption of green technology and sustainability solutions and services in the market.
The airborne communication segment to hold a larger market size during the forecast period
The communication type segment comprises airborne, air-ground, underwater, ground-based, and shipborne communications.The airborne communication segment is expected to hold a larger market share during the forecast period.The key trend contributing to this market growth is the increased focus and investment to enhance the capabilities of air forces.
Several countries, such as the US, the UK, Russia, Israel, India, Japan, Singapore, and China, have increased their spending to strengthen their air forces, which is expected to enhance the expenditure on airborne communications.The underwater communications segment is projected to grow at the highest CAGR during the forecast period.
The services segment is expected to grow at the highest CAGR during the forecast period
The component segment comprises solution and services.The overall services segment has a major influence on the green technology and sustainability market.
These services help lower operational costs, increase the overall revenue, and improve business productivity and performance.The solution segment is estimated to account for a larger market size during the forecast period.
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 crop monitoring segment is expected to grow at the highest CAGR 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.
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.The crop monitoring segment is expected to grow at the highest CAGR during the forecast period.This growth can be attributed to the increasing need to remotely monitor the health and condition of crops and enable farmers to implement timely interventions that ensure optimal yields at the end of the season.
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 technologies to enhance business processes.
Market Dynamics Increasing Environmental Awareness and Concerns Increasing Use of RFID Sensors Across Industries Increasing Consumer and Industrial Interest for Use of Clean Energy Resources to Conserve Environment
Restraints High Product Cost Associated with Green Technology Solutions
Opportunities Initiatives to Tackle Climate Change and Air Pollution Modernization of IT and Telecom Infrastructure for Low Carbon Emission
Challenges Lack of Tailored Solutions to Address Unique Environmental Issues Lack of Regulations for Green Technology Reduction in Recycling due to COVID-19 Cumulative Growth Analysis CPS Energy Deployed Enviance System to Enhance Automation of Emissions Reporting Process Arizona State Government Deployed a Smart Solution to Improve Water Infrastructure GE Helps Bord Gais Energy in Keeping Continuous Operations and Reducing Unplanned Downtime Enviance System Managed and Store Data Making It Easy for Koch Fertilizer to Centralize Documentations and Faster Deployment of New Internal Programs Mumbai-Based Palava City to Control Air Quality Using Oizom’s Real-Time Emission Monitoring Solution’s Global Clothing Company Leverages Data for Sustainability Insights
Sustainable Development Best Practices.
