Washington, October. Feb. 21, 2022 (GLOBE NEWSWIRE) — The global green technology and sustainability market is worth $10.9 billion in 2021 and is expected to reach $44.4 billion by 2028, growing at a CAGR of 26.4, according to a report by Vantage Market Research % Between 2022 and 2028. The report provides an in-depth study of top segments, changing market trends, value chain, key investment areas, competitive scenarios and regional landscape. The report is an important and useful source of information for key market players, investors, new entrants and other stakeholders who wish to develop new plans for the future and take steps to strengthen their market positions. In a paper entitled “Green Technology and Sustainability Market Size and ShareTrend Analysis Report by Component (Solution, Service), Technology (IoT, AI and Analytics, Digital Twin, Cloud Computing), Application (Carbon Footprint Management, Green Building, Water Purification, Leak Detection), Region (North) United States, Europe, Asia Pacific, Latin America) – Global Industry Assessment (2016 – 2021) and Forecast (2022 – 2028)“.
Sustainability and the environment have been sensitive topics of discussion around the world in recent years. Geopolitical and government organizations constantly monitor statistics related to renewable energy, recycling, soil erosion, agricultural sustainability, and more. The influence of social media and the Internet of Things (IoT) is having a huge impact on the growth of the market.
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What is green technology and sustainability? How big is the green technology and sustainability market?
Market dynamics:
Driver: Potential use of RFID sensors in various industries to drive the market
There is a growing potential for the adoption of RFID technology in the manufacturing industry, which brings enormous benefits to the green technology and sustainable development sectors. Government initiatives and technological advancements related to RFID sensors are driving the market growth. Manufacturing is setting goals that benefit the environment and achieve sustainability goals. RFID technology increases inventory accuracy from 75% to 95%. These investments benefit manufacturers by reducing costs and streamlining supply chain accuracy. This gradually benefits the sustainability of the industry.
List of prominent players in the green technology and sustainability market:
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General Electric (USA)
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Enablon (France)
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Salesforce (US)
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Microsoft (US)
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Schneider Electric (France)
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Engie Impact (US)
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Intelex (Canada)
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Enviance (US)
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Census (US)
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LO3 Energy (US)
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Isometrix (South Africa)
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Taranis (Israel)
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Trace Genomics (USA)
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ConsenSys (US)
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CropX (Israel)
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Ortau (USA)
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IoT Solutions and Consulting (Europe)
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Picno (UK)
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MineSense Technology (Canada)
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win (US)
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OIZOM (India)
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Trivia (Latin America)
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SMAP Energy (UK)
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Acuvio (Ireland)
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Key insights and findings from the in-depth report:
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On the basis of technology, the market is segmented into IoT, artificial intelligence and analytics, digital twin, cloud computing, security, and blockchain. The Internet of Things (IoT) category leads the green technology and sustainability market over the forecast period and is expected to maintain its dominance over the forecast period. The introduction of green networks in IoT connections can reduce pollution and emissions, leverage environmental protection and monitoring, and reduce operating expenses and power consumption. On the other hand, the field of artificial intelligence and analytics is expected to grow at the fastest pace over the forecast period owing to the increasing use of artificial intelligence and analytics in various industries across the globe.
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On the basis of application, the market is segmented into carbon footprint management, green building, water purification, water leak detection, fire detection, soil condition/moisture monitoring, crop monitoring, forest monitoring, air and water pollution monitoring, weather monitoring and forecasting, and sustainable mining and exploration. The green building category is expected to hold the largest market share during the forecast period. Green buildings, also known as sustainable buildings or high-performance buildings, are built during the entire life cycle of a building (from site selection to design, construction, operation, maintenance, renovation and deconstruction. This practice adds economics to traditional building design , practicality, durability and comfort. The key factors are energy and water efficiency, resource efficiency, indoor environmental quality, and the overall environmental impact of the structure.
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Asia Pacific is the fastest growing regional segment. The Asia Pacific market is expected to grow at the fastest rate during the forecast period. East Asia has made great strides towards a sustainable energy future over the past decade. The major economic players in these developments are China, Japan, Taiwan, India and South Korea. Governments in these countries have also made different contributions to low-carbon, renewable development projects. They invest in developing new markets for renewable energy infrastructure manufacturing, such as solar and wind energy, smart grids, electric vehicles and green buildings. These initiatives are intrinsically linked to the growth of overseas markets and the potential regional development of exports of cleantech products.
Report Scope:
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report properties |
detail |
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Market size in 2021 |
$10.9 billion |
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Revenue forecast to 2028 |
$44.4 billion |
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compound annual growth rate |
26.4% from 2022 to 2028 |
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base year |
2021 |
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forecast year |
2022 to 2028 |
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key figure; main force; important member |
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Segmentation of the Global Green Technology and Sustainability Market:
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Components
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technology
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Internet of Things
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Artificial Intelligence and Analytics
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digital twin
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cloud computing
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Safety
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blockchain
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application
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carbon footprint management
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Green Building
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clean water
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Water leak detection
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Fire Detection Soil Condition/Moisture Monitoring
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crop monitoring
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forest monitoring
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Weather monitoring and forecasting
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Air and Water Pollution Monitoring Sustainable Mining and Exploration
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area
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North America
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Europe
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Asia-Pacific
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Latin America
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Middle East and Africa
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Constraints: High product cost associated with green technology
The main issue associated with implementing green technologies is the initial investment required. Large industries are able to make investments, but smaller industries cannot make such decisions, so the green technology and sustainability market is expected to slow down in the coming years. Governments should proactively provide assistance and subsidies for small industries to adopt green technologies.
The report on the green technology and sustainability market highlights:
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market assessment
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Advanced Insights
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Competitive Landscape
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COVID impact analysis
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Historical data, estimates and forecasts
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Company Profile
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Global and Regional Dynamics
Regional Analysis:
North America Dominates Global Green Technology and Sustainability Market
North America will hold the largest market share in 2021. The growth of the market is mainly due to increasing government initiatives and broad base of major manufacturers implementing green technologies. Major key players are involved in developing and integrating advanced technologies to overcome the challenges of rising levels of emissions, pollution and waste related to climate change.
Asia Pacific is considered a favorable investment market and is expected to generate the largest revenue during the forecast period. This can be attributed to developing countries such as China, India and Singapore’s focus on integrating advanced technologies to enhance business processes.
Browse the market data tables and graphs spread over 156 pages and gain an in-depth look at the Table of Contents of the Green Technology and Sustainability Market Forecast Report (2022-2028).
The report answers the following key questions:
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What is the market size and growth rate over the projected period?
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What are the various trends in the industry affecting its growth?
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What are the potential growth possibilities and threats of the key competitors in the market?
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Which key areas of applications and product types are likely to experience significant demand during the forecast period?
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What is the strategy of the key companies that gain the highest share?
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What are the key findings of Porter’s Five Forces Analysis and SWOT analysis of major companies in the global market?
Recent Developments:
January 2020, GE Hitachi Nuclear Energy and Terra Power collaborated to design and build the VTR for the U.S. Department of Energy.The collaboration brings together a strong team of engineers and scientists with extensive experience in sodium reactor technology.
September 2019, Salesforce announced Sustainability Cloud, a carbon accounting product for businesses. Salesforce’s Sustainability Cloud enables businesses to fast-track, analyze, and report on reliable environmental data to help them reduce carbon emissions.
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