Global Green Technology and Sustainability Market are Expected to Expand During the Forecast Period due to Increasing Demand for Green Technology.
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Global green technology and sustainability market are expected to expand during the forecast period due to increasing demand for green technology. Global issues, including climate change, overuse, and depletion of natural resources, rapid population expansion, and environmental pollution, are among the main causes of the increasing demand for green technology, which is less detrimental to the environment and aids in protecting natural resources.
According to its supply chain or manufacturing process, green technology is described as a category of technology that is thought to be environmentally beneficial. In other terms, the term "green technology" can also apply to the generation of clean energy, the use of substitute methods, and the use of fuels that are less damaging to the environment than fossil fuels. It covers a wide range of scientific disciplines, such as hydrology, atmospheric science, agriculture, and energy.
Growing Awareness and Concerns Towards the Environment
After significant events in the world, environmental conservation became a major topic. For instance, the massive industrial catastrophe in India in 1984, the oil crisis, the nuclear tragedy, the hole in the ozone layer, and the destruction of the Amazon rainforest. The significance of environmental health has been widely recognized as a result of these events. The environmental movement has started, and several governments, businesses, and organizations have passed laws and rules requiring green management. Additionally, when it comes to global warming, the United Nations' agenda's top priorities are "green" technology, green economics, and green lifestyles. Thus, green innovations will be accepted globally, and the green industry will make investments across all spheres of human endeavor. Only green technology is an advancement that does not affect living beings. Robotics, artificial intelligence, and automated vehicles use green digital at the core of the fourth industrial revolution. Since the depletion of fossil fuels poses a serious risk to sustainability and human advancement, companies can also get an advantage over rivals and gain market share by implementing green technologies. Green innovation lowers the cost of materials, energy, upkeep, and operations. Additionally, it can enhance a company's environmental reputation, particularly among environmentally conscious customers of competitors.
The Rise of the Internet of Things (IoT)
As digital technology and green technology are highly interdependent, cutting-edge technologies like the Internet of Things (IoT) will be crucial to the expansion of the green technology industry. The Internet of Things (IoT) is a sizable network of connected things that can talk to one another. Green technology will expand as a result of the IoT market's expansion and development. IoT technology can aid in enhancing sustainability in a variety of fields, including waste management, agriculture, wildlife preservation, construction, and wastewater management. Sustainable growth requires each of these components. The ultimate objective is to use IoT and green technology to enhance sustainability across all industries.
Increase in Consumer and Industrial Interest in the Use of Clean Energy Resources
Green technology advancements are mostly driven by an increase in energy consumption and greenhouse gas emissions. The focus on clean energy resources has grown as people are becoming more conscious of emissions from manufacturing industries like mining and forest monitoring. Major leading players are choosing these solutions at a significant rate due to the quick uptake of smart grid technology in various industries as well as the advantages of grid technology, such as cost-effectiveness and dependable grid integration, as well as technological innovation of green technology.
Market Segments
Green Technology and Sustainability Market are segmented into Component, technology, application, and region and competitive landscape. Based on component, the market is segmented into solutions and services. Based on services, the market is further divided into consulting, integration and technology, support, and maintenance. Based on technology, the market is segmented into IoT, AI and Analytics, Digital Twin, Cloud Computing, Security, and Blockchain. Based on 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, Weather Monitoring and Forecasting, Air and Water Pollution Monitoring, Sustainable Mining, and Exploration.
Market Players
Major market players in the Global Green Technology and Sustainability Market are General Electric Company, Wolters Kluwer N.V., Salesforce.com Inc, Microsoft Corporation, Schneider Electric Infrastructure Ltd, Engie Impact, Sensus USA, Inc., Enviance, Inc, Intelex Technologies Inc., CropX Inc., Oracle Corporation.
Recent Developments
- In 2020, the US Department of Energy's Versatile Test Reactor (VTR) will be designed and built by GE Hitachi Nuclear Energy (GEH) and TerraPower as part of a Public Private Partnership (DOE).
- In 2021, CropX and NASA Harvest will work together as part of a partnership to deliver soil insights to NASA Harvest, a food security and agriculture initiative, allowing it to better track global agriculture. The data required to farm more sustainably by preserving resources and increasing yields will be made available to farmers and industry professionals by the two companies working together.
Report Scope:
In this report, Global Green Technology and Sustainability Market have been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Technology and Sustainability Market, By Component:
- Solution
- Services
- Consulting
- Integration and Technology
- Support and maintenance
Technology and Sustainability Market, By Technology:
- IoT
- AI and Analytics
- Digital Twin
- Cloud Computing
- Security
- Blockchain
Technology and Sustainability Market, By 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
Technology and Sustainability Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- U.K.
- Germany
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Rest of APAC
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of South America
- South America
- Brazil
- Argentina
- Colombia
- Chile
- Venezuela
- Rest of MEA
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Green Technology and Sustainability Market.
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- General Electric Company
- Wolters Kluwer N.V.
- Salesforce.com Inc
- Microsoft Corporation
- Schneider Electric Infrastructure Ltd
- Engie Impact
- Sensus USA, Inc.
- Enviance, Inc
- Intelex Technologies Inc.
- CropX Inc.
- Oracle Corporation
