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Green Technology and Sustainability Market: Segmented By Technology (Internet of Things (IoT), Cloud Computing, Artificial Intelligence & Analytics, and Others): By Application (Green Building, Carbon Footprint Management, Weather Monitoring & Forecasting, Air & Water Pollution Monitoring, and Others): Global Analysis by Market size, share & trends for 2020-2021 and forecasts to 2031
Green Technology and Sustainability Market to surpass USD 65.62 billion by 2031 from USD 12.26 billion in 2021 at a CAGR of 18.26% within the coming years, i.e., 2021-31.
Data visualization can be defined as a collection of a wide range of business applications. The idea of visualizing data is broadly applied in a variation of technologies & terms like scorecards, dashboards, infographics, business intelligence, analytics, and big data. It benefits businesses to gain a related report from an ever-growing, varied and huge amount of business data.
The growth in consumer and industrial awareness for the use of clean power and energy resources to preserve environment and growing use of RFID radars across industries are roosting the approval of green technology and sustainability solutions and services globally.
Based on Application, the market is segmented into By Application into Green Building, Carbon Footprint Management, Weather Monitoring & Forecasting, Air & Water Pollution Monitoring, and Others. Green Building segment holds the highest market share of Green Technology and Sustainability Market. The exercise balances the classical building design with features of economy, utility, durability, and comfort. The main deliberations include energy and water efficiency, resource efficiency, indoor environmental value, and the building’s overall influence on the environment.
Based on technology, the market is segmented into Internet of Things (IoT), Cloud Computing, Artificial Intelligence & Analytics, and Others. Internet of Things (IoT) segment is predictable to grow at the highest CAGR during the forecast period. The main factor that drives the growth of IoT technology segment is arrival of green systems in IoT connections, which has donated to control pollution & emission, decrease misuse of environmental conservation & scrutiny, and lessen operational costs & power consumption.
Growth in the use of RFID sensors
IoT has been used to label many technologies and research disciplines. Enabling technologies, such as RFID, sensor networks, biometrics, and nanotechnologies, are now becoming common and bringing IoT forward to report various applications. Smart devices and Sensors, which are interacting through high-speed data, are able to make certain functions separately, calling for new procedures of green interaction between various smart devices, where power consumption is enhanced, and bandwidth utilization is maximized.
Modernization of IT and telecom infrastructure
Technology enterprises are looking for customs to decrease the energy consumption of their products. Businesses are concentrating on building energy-efficient goods, power supplies, and integrated circuits to be energy-efficient, and making co-operative solutions to help clients lessen their carbon emissions. Environment-friendly enterprises practices lessen business risks, enhance reputation, and create huge market opportunities in the green technology and sustainability market.
High product cost
The initial investment cost of building and installing solar and wind farms is high. Like many renewables, solar and wind fields are remarkably cheap to function as their fuel is free and conservation is minimum; hence, most of the expenditure is spent on building technology-based products. Carbon footprint management, Air quality monitoring, and air and water pollution monitoring are a few uses where the application of cutting-edge technologies requires high maintenance costs.
The outbreak of COVID-19 has brought effects on many features, like aircraft terminations; travel bans and quarantines; restaurants, cafes closed; all outdoor events restricted; over forty countries state of emergency declared, and doubt about future. The drop-in emissions of carbon due to COVID-19 is a short-term gain, but resume of industries and businesses looking to receive some of their financial losses through the start of the year, it will essentially lead to a much higher level of carbon emissions. COVID-19 has also affected many company’s profits and when lockdown ends organizations will start concentrating on operations to improve their losses; this might lead to shifting their emphasis from green technologies for their commerce to avoid additional charges.
General Electric Company
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Green Technology and Sustainability Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. North America is estimated to contribute the largest share of the Green Technology and Sustainability Market during the forecast period owing to the overall preference and enthusiasm shown by the general population in the region towards adopting Green Technology. Moreover, large number of players functioning in this region also influence to drive growth of the market in North America. Asia Pacific also holds a major share of the global market. The market in the region is also projected to register the highest CAGR during the forecast period.
| Report Attribute | Details |
| Market size value in 2021 | USD 12.26 billion |
| Revenue forecast in 2031 | USD 18.26% billion |
| Growth Rate | CAGR of 18.26% from 2021 to 2031 |
| Base year for estimation | 2021 |
| Quantitative units | Revenue in USD billion and CAGR from 2021 to 2031 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Technology, Application, and region |
| Region scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA) |
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Key companies profiled |
Enablon, Salesforce.com, Inc., Microsoft Corporation, Schneider Electric, Engie Impact, Sensus, Enviance, Intelex Technologies Inc., CropX Inc., and Others |
The Green Technology and Sustainability Market size was estimated at USD 12.26 billion in 2021 and is expected to reach USD 65.62 billion by 2031.
Key players: Enablon, Salesforce.com, Inc., Microsoft Corporation, Schneider Electric, Engie Impact, Sensus, Enviance, Intelex Technologies Inc., CropX Inc., and Other prominent players.
Green Building segment and Cloud Segment are anticipated to hold the largest Green Technology and Sustainability Market.
Drivers: Growth in the use of RFID sensors and Modernization of IT and telecom infrastructure
Data visualization can be defined as a collection of a wide range of business applications. The idea of visualizing data is broadly applied in a variation of technologies & terms like scorecards, dashboards, infographics, business intelligence, analytics, and big data. It benefits businesses to gain a related report from an ever-growing, varied and huge amount of business data.
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