WASHINGTON, Oct. 21, 2022 (GLOBE NEWSWIRE) — According to a report by Vantage Market Research, the Global Green Technology and Sustainability Market was worth USD 10.9 Billion in 2021 and is expected to be worth USD 44.4 Billion by 2028, with a CAGR of 26.4% between 2022 and 2028. The report gives an in-depth look at the top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an important and helpful source of information for leading market players, investors, new entrants, and other stakeholders who want to make new plans for the future and take steps to strengthen their position in the market. in a report, titled “Green Technology and Sustainability Market Size & Share, Trends Analysis Report by Component (Solution, Services), by Technology (IoT, AI and Analytics, Digital Twin, Cloud Computing), by Application (Carbon Footprint Management, Green Building, Water Purification, Water Leak Detection), by Region (North America, Europe, Asia Pacific, Latin America) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.
In recent years, sustainability and the environment have been sensitive topics discussed at the global level. Geopolitics and government organizations are continuously monitoring statistics associated with renewable energy, recycling, soil erosion, agricultural sustainability and others. The influence of social media and the internet of things (IoT) are generating a huge impact on the growth of the market.
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What is Green Technology and Sustainability? How Big is Green Technology and Sustainability Market Size?
Market Dynamics:
Driver: Potential use of RFID sensors across industries to drive the market
The growing potential of manufacturing industries to adapt RFID technology is gaining huge benefits for the green technology and sustainability sector. Government initiatives and technology advances associated with RFID sensors drive the market growth. Manufacturing industries are setting goals that benefit the environment and achieve sustainable goals. RFID technology improves from 75% of inventory accuracy up to 95%. The investments benefit manufacturers by cutting down costs and streamlining supply chain accuracy. This gradually benefits the sustainability of industries.
List of Prominent Players in Green Technology and Sustainability Market:
- GE (US)
- Enablon (France)
- Salesforce (US)
- Microsoft (US)
- Schneider Electric (France)
- Engineering Impact (US)
- Intelex (Canada)
- Enviance
- Sensus
- LO3 Energy (US)
- Isometrix (South Africa)
- Taranis (Israel)
- Trace Genomics (US)
- ConsenSys (US)
- CropX (Israel)
- Hortau
- IOT Solutions and Consulting (Europe)
- Pycno (UK)
- MineSense Technologies (Canada)
- WINT (US)
- OIZOM (India)
- Treevia (Latin America)
- SMAP Energy (UK)
- Accuvio (Ireland)
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Key Insights and Findings from the In-depth Report:
- On the basis of Technology, the market is segmented into IoT, AI and analytics, Digital twin, Cloud computing, Security, and Blockchain. The Internet of Things (IoT) category led the Green Technology and Sustainability Market in the forecast period and is expected to maintain its dominance during the forecast period. The introduction of green networks in IoT connectivity has led to the reduction of pollution and emission, the exploitation of environmental conservation and surveillance, and the reduction of operational expenses and power consumption. The artificial intelligence and analytics segment, on the other hand, is predicted to develop at the fastest rate during the forecast period, owing to the increased usage of artificial intelligence and analytics across various industries around the world.
- 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. During the projection period, the green building category is expected to account for the greatest market share. Green building, also known as sustainable or high-performance building, is the practice of designing and implementing structures and processes that are environmentally responsible and resource-efficient throughout the life cycle of a building, from sitting to design, construction, operation, maintenance, renovation, and deconstruction. The practice adds features of economy, usability, durability, and comfort to traditional building design. The key factors are energy and water efficiency, resource efficiency, indoor environmental quality, and the overall environmental impact of the structure.
- Asia Pacific is the fastest regional segment in terms of growth. During the projection period, the Asia Pacific market is expected to grow at the fastest rate. East Asia has made great progress toward a sustainable energy future over the previous decade. The primary economic participants in these developments are China, Japan, Taiwan, India, and South Korea. Governments in these countries have also made varied contributions to low-carbon, renewable development programs. They have invested 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 prospective regional development in the export of clean technology items.
Scope of the report:
| Report Attributes | details |
| Market size in 2021 | USD 10.9 trillion |
| Revenue Forecast by 2028 | USD 44.4 trillion |
| CAGR | 26.4% from 2022 to 2028 |
| base year | 2021 |
| forecast year | 2022 to 2028 |
| key players |
|
Segmentation of the Global Green Technology and Sustainability Market:
- component
- Technology
- Internet of Things
- AI and Analytics
- digital twin
- cloud computing
- Security
- Blockchain
- 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
- region
- NorthAmerica
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Restrain: High Cost of Product Associated with Green Technology
The major concern associated with implementing green technology is the initial investment required. Large industries are able to make investment but small industries are incapable for taking such decisions, thus Green Technology and Sustainability Market is expected to slow down in coming years. Government should take initiatives by providing assistance and subsidies for small scale industries to adopt green technology.
The report on Green Technology and Sustainability Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America Dominates the Global Green Technology and Sustainability Market
North America held the largest market share in 2021. The growth in the market is majorly due to increasing government initiatives and a wide base of key manufacturers implementing green technology. Major key players are involved in R&D and integrating advanced technologies to overcome challenge related to climate change rise in levels of emissions, pollution, and waste.
The Asia Pacific is considered to be a favorable market for investments and is expected to generate maximum revenue in during the forecast period. This 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.
Browse market data Tables and Figures spread through 156 Pages and in-depth TOC on Green Technology and Sustainability Market Forecast Report (2022-2028).
The Report Responds to The Following Key Questions:
- What will be the market size and growth rate over the predicted period?
- What are the various trends in the industry that are influencing its growth?
- What are the market’s main competitors’ prospective growth possibilities and threats?
- Which are the key areas of applications and product types that may expect a huge demand during the forecast period?
- What are the key firms’ tactics for gaining the highest share?
- What are the main findings of Porter’s five forces analysis and the SWOT analysis of the major companies in the worldwide market?
Recent Developments:
In January 2020, GE Hitachi Nuclear Energy and Terra Power 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.
Customization of the report:
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