Global Green Technology and Sustainability Market, By Technology (IoT, AI & 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), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America); Trend Analysis, Competitive Market Share & Forecast, 2020-2026

Global Green Technology and Sustainability Market Size – Industry Trends & Forecast Report 2026

The Global Green Technology and Sustainability Market has reached USD in 2019 and is further projected to reach USD by 2026, growing at a CAGR of % during the forecast period. Green Technology and Sustainability Market is a phrase that teaches us how to create products, which are more environmentally friendly. It includes technology infrastructure, which is used to recycle waste, water purifies clean energy, and conserve natural resources.

Source: BlueWeave Consulting

Global Green Technology and Sustainability Market Overview:

Green Technology and sustainability market involve the procedure of technology in production processes using sustainable forms of energy. It includes wastewater treatment, recycling, and waste management, Generation of energy from waves, connecting solar energy, etc. Green Technology helps reduce releases, preserve water, reduces waste, and consumes less energy than conservative technology. There are many reasons why the demand for green technology has been increasing. One of the main factors is the benefit the technology offers. The benefit is of being less harmful to the environment is the reason for increasing the adoption of the technology at such a large scale. Moreover, the government strict rules and regulations about environmental protection.

Global Green Technology and Sustainability Market Forecast and Trends

Growth Drivers 

Increasing awareness and concerns about the environment are driving the market growth

Due to the rising awareness about the harmful effects of greenhouse gas emission on the environment, the need for low-carbon electricity is growing, which is motivating the global green technology and sustainability market. The progression of decentralized renewable energy sources has increased traction due to the rising consciousness of shrinking natural resources along with the rise on the contrary effect of human technology over the environment. Thus, the demand for products that are hopeful environmental awareness and are less harmful is likely to fuel the green technology and sustainability industry growth.

Initiatives to tackle climate change and air pollution

Global interest in effective pollution check and control has been on the increase owing to the rising public awareness about healthcare, environmental consequences of pollution, and the increasing demand for advanced air quality checking devices. Technologically advanced air quality and climate monitors, such as remote detecting devices and real-time monitors, help retrieve the climate and air pollution parameters amid industrial users. Industries can leverage cutting-edge technologies that make chances for green technology solutions. For instance, a digital twin can estimate weather and can capture real-time situations measured by many sensors and devices, simulating, and visually representing them in digital form to make long-term climate forecasts and short-term estimates.

Restraints

High product costs associated with solutions for green technology will act as a restrain for the market

The major obstacle to the acceptance of green technology is its affordability for its high range of uses. As product and service, cost encourages or discourages the use of suitable technology in developing economies, the development of the green technology and sustainability market is probable to restrain due to its high-cost factor. Green technologies are the means to divert energy production from low-cost sources, such as coal and oil to more luxurious, highly sponsored sources such as solar and wind.

Impact of COVID-19 in the industry

The green technology and sustainability market have seen significant growth in the past few years; however, due to the presence of the COVID-19 pandemic, the market is estimated to exhibit a slight downfall in 2020. This is credited to the implementation of lockdown by governments in the majority of the countries and the shutdown of many ongoing projects of solar panels and windmills across the globe. Even fitting of small solar panels at households and other industries projects are paused due to strict measures of social distancing. However, various green technology solution providers crosswise the globe are presenting new strategies and business plans for living in the market and to increase their market value.

Global Green Technology and Sustainability Market: By Technology

In 2019, the Internet of Thing (IoT) was the dominant segment in the green technology and sustainability market and is probable to maintain its supremacy during the forecast period. The main reason that motivates the growth of the IoT technology section is the advent of green networks in IoT connectivity, which has donated to reduce exploitation of environmental conservation & surveillance, curb pollution & emission and lessen operational costs & power consumption. However, the artificial intelligence & analytics segment is predicted to grow at the utmost rate during the forecast period, due to the surge in acceptance of artificial intelligence and analytics among many industries across the globe.

Global Green Technology and Sustainability Market: By Application

The forest monitoring industry has a major share in total energy consumption universal. Approximately, three-quarters of industrial energy is consumed in the production of energy-intensive commodities such as petrochemicals & chemicals, non-ferrous & ferrous metals, non-metallic mineral materials, and pulp & paper. Green technology offers process-oriented innovations in patterns of material flows that have contributed drastically reduce the environmental footprint of human economic actions and maintain the ecosphere, which is a major reason expected to motivate the development of the market during the forecast period.

Global Green Technology and Sustainability Market: Regional insights

The global green technology and sustainability market has been currently ruled by North America. The region is also expected to last to lead the global market during the course of the forecast period of 2019 to 2027. The growth of the North America market is because of the extreme developments and innovation in this space. On the other hand, the Asia Pacific region is expected to show a high possibility for development during the estimated period. With developing economies such as China and India participating heavily in overhauling their domestic infrastructure, green technology and sustainability solutions are key for their development. This is predictable to present several profitable chances for the market players and thus help in the growth of the regional market.

Competitive landscape

Key players for Green Technology and Sustainability Marketincludes -GENERAL ELECTRIC, IBM Corporation, Microsoft, Enablon S.A, ENVIANCE, Sensus, Taranis, Trace Genomics, Inc., LO3 Energy, CONSENSYS, CropX inc., Hortau, SMAP Energy, TREEVIA FOREST TECHNOLOGIES, Pycno Industries, Inc., IOT Solutions & Consulting, Oizom Instruments Pvt. Ltd., MineSense. Several key players are engaged in mergers and acquisitions, expansion of their manufacturing facilities, infrastructural growth, investment in R&D facilities and the quest for opportunities to expand vertically through the value chain.

Recent Development

In July 2019, GENERAL ELECTRIC and Emrgy Inc. are partnered for Emrgy’s Micro Hydrokinetic technology. By this collaboration, GENERAL ELECTRIC will supply hydropower turbines to Emrgy Inc. GENERAL ELECTRIC will also start offering Emrgy's item in select markets around the world as part of its suite of hydropower alternatives

In June 2019, ENVIANCE has partnered with ehsAI, which is a company in machine learning technology. This partnership is aimed to take down the cost of artificial intelligence compliance with EHS. Through this partnership ENVIA NCE continues to expand its ecosystem of partners by which they can provide customers support to EHS programs

Scope of the Report

Scope of the Report

By Technology

·         IoT

·         AI & Analytics

·         Digital Twin

·         Cloud Computing

·         Security

·         Block chain

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

By Region:

·         Asia Pacific

·         North America

·         Europe

·         Middle East & Africa

·         Latin America