Green Technology and Sustainability Market

Market Overview

Green technology, also known as greentech or sustainable technology, refers to the development and implementation of environmentally friendly technologies and systems that aim to reduce, prevent or mitigate the negative impacts of human activities on the environment. It encompasses a wide range of interdisciplinary fields, such as renewable energy, clean transportation, energy efficiency, sustainable agriculture, waste management, green chemistry, and many others.

The Green Technology and Sustainability Market are estimated to reach 7.7 % and a value of SD 36 Billion between 2022 to 2030 during the forecast period.

The major goal of green technology is to protect the environment and promote sustainability by reducing reliance on non-renewable energy sources , minimizing waste and pollution, and promoting the use of renewable resources. The development and implementation of green technologies have the potential to create jobs, improve public health, and directly benefit communities and businesses. In recent years, the market for green technologies has grown rapidly, and it is projected to continue to do so in the future, driven by increased demand for environmentally friendly products and services, as well as government initiatives and policies aimed at promoting sustainability.

Green technology is progressing with rising trends to create awareness about the harmful impact of greenhouse gases. The increased adoption of RFID sensors that eliminate carbon emissions drives the Green Technology and Sustainability Market. The massive increase of customers towards clean energy resources is another boosting factor. The rise of favorable government initiatives to overcome the climatic change situation and pollution in the environment upbringing new opportunities for the market.

Consumer awareness is growing high; the strict government regulations protect the environment, which accelerating market. With these growth factors, the market will reach its goal in the future days.

During the pandemic period, the Green Technology and Sustainability Market noticed a good growth rate as the usage of green technology increased, further decreasing carbon emissions. The adoption of solar power systems has increased the market’s value. The core focus on protecting the environment across the industry verticals shows a positive impact on the market.

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Competitive Analysis

The key players of the global green technology and sustainability market are General Electric (US), IBM (US), Enablon (France), Enviance (US), Sensus (US), Taranis (Israel), Trace Genomics (US), LO3 Energy (US), ConsenSys (US), CropX (Israel), Hortau (US), SMAP Energy (UK), Treevia (Brazil), Pycno (UK), IoT Solutions and Consulting (Europe), Oizom (India), MineSense Technologies (Canada), and WINT (US).

Market Segments

The Green Technology and Sustainability Market are segmented based on technology, application, and region.

The technology section divides the market into artificial intelligence (AI), Internet of things (IoT), analytics, cloud computing, digital twin, security, and blockchain.

The application segment is bifurcated into major parts such as carbon footprint management, green building, water leak detection, fire detection, water purification, soil condition and moisture monitoring, crop monitoring, forest monitoring, air and water pollution monitoring, weather monitoring and forecasting, and sustainable mining and exploration.

Regional Analysis

According to the regional analysis, the Green Technology and Sustainability Market cover major continents such as Asia Pacific, Europe, South America, the Middle East and Africa.

North America is the leading continent of the market as it holds the maximum share value. This region is further expected to maintain its growth in the forecast period due to the adoption of innovative technologies in prominent and developed countries like the US and Canada. The presence of key industrial players and their competition is driving the regional market of the region.

Followed by North America, the European region is the second-largest continent due to the increased investments from the major companies and governments for addressing climate change by applying the technology.

Asia-Pacific is registered to be the fastest-growing region due to its huge customer base and increased focus by the government on the adoption of eco-friendly solutions. The massive growth rate was noticed in developing countries like China, India, and Japan. The development of R&D activities on technology based on renewable sources in China and India is highly driving the regional market of the Asia Pacific region.

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Industry News

In January 2020, OIZOM united with Ortelium and Aaxis Nano and offered smart air quality management solutions in the Indian market regions. This partnership provided a platform for environmental monitoring software that allowed environmental data integration from different sources and combined with innovative data visualization.

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