These technologies help to gain sustainability by producing green and clean energy. Green technology is prominently used for the protection of the environment. That’s the reason, the government all around the globe are heavily investing in the development of green technology. Growing adoption of the green sustainability market can be attributed to the surge in environmental awareness and increase in concerns among organizations & individuals about global warming acts as the key driving forces of the global green technology and sustainability market. Moreover, the rise in the adoption of radio frequency identification (RFID) sensors curbs carbon emissions and an increase in consumer & industrial interest for use of clean energy resources. Furthermore, the growing carbon emissions globally are increasing at an alarming rate, for instance, global energy-related CO2 emissions remained at 31.5 Gt, which contributed to CO2 reaching its highest ever average annual concentration in the atmosphere of 412.5 parts per million in 2020 – around 50% higher than when the industrial revolution began.
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According to UnivDatos Market Insights (UMI)’ research report “Global Green Technology And Sustainability Market Market Analysis, 2021”, the green technology and sustainability market market is projected to grow at a CAGR of ~24% during 2021-27F. The global green technology and sustainability market is growing on account of the increasing investments in critical infrastructure is likely to drive the green technology and sustainability market. For instance, in 2020, the US government has committed a federal investment of USD 1.7 trillion in climate resilience and clean energy over the course of the next 10 years. Furthermore, growing environmental awareness and growing concerns among organizations and individuals about global warming are the factors driving the growth of the green technology and sustainability market. Moreover, increased demand for eco-friendly products or less harmful products is driving the growth of the market. The government initiatives for dropping the carbon footprint and minimizing waste production are major factor that is anticipated to propel the growth of the market over the forecast period.
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Based on the Component, the market is segmented into solutions and services (consulting, integration and deployment, support and maintenance). The solutions segment is expected to achieve a significant CAGR during the forecast period. Green technology and sustainability solutions provide real-time statistics, charting and monitoring tools, and management services, it also includes environmental monitoring and renewable energy solutions that assist in developing robust and reliable infrastructure and further help create a healthy environment. Furthermore, 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.
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Based on the Technology ,the market is segmented into IoT, digital twin, cloud computing, blockchain, and others. The blockchain segment held a significant share of the green technology and sustainability market in 2020 and is expected to witness substantial growth during the forecast period. The adoption of blockchain technology can be attributed to its decentralized nature and its accessibility. Startups around the globe are using blockchain as a tool to make the energy grid more accessible and sustainable by promoting data sharing in real-time. Many organizations record data manually at every link in the supply chain. By using distributed ledger technology to collect information digitally in real-time and very close to the source, if IoT sensors are involved businesses can track carbon emissions from the factory floor to the shelves. This level of visibility gives businesses insight into how and where they can reduce their carbon emissions.
North America to Grab Lion’s Share, and witnessed Explicit Growth
North America held a prominent share of the global green technology and sustainability Market in 2020 and is expected to showcase a prominent growth rate during the forecast period. This can be attributed to the presence of leading green technology and sustainability service providers and the integration of cloud and IoT with green technology and sustainable market solutions. In addition, a surge in investments by key players as well as the government for developing advanced green technology and sustainability solutions fuels the growth of the market., as stated in UnivDatos Market Insights (UMI)’ research report “Global Green Technology And Sustainability Market Analysis, 2021”.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the green technology and sustainability market include Enablon, Salesforce, Microsoft, Schneider Electric, Engie impact, Intelex, Eviance, LO3 Energy, Isometrix, and Taranis.. The players are focused on launching products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.
“Global Green Technology And Sustainability Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for green technology and sustainability market providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
1. By Component (Solutions and Services)
2. By Technology (IoT, Digital Twin, Cloud Computing, Blockchain, and Others)
3. By Region (North America, Europe, Asia-Pacific, Rest of the World)
4. By Company (Enablon, Salesforce, Microsoft, Schneider Electric, Engie impact, Intelex, Eviance, LO3 Energy, Isometrix, and Taranis)
Key questions answered in the study:
1. What are the current and future trends in the green technology and sustainability market industry?
2. How the industry has been evolving in terms of type, offering, and application?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the green technology and sustainability market industry?
5. What is the customer orientation, purchase behavior, and expectations from the green technology and sustainability market firms across various regions?
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