Green Technology and Sustainability Market to Register a high CAGR until 2028
Improved
environmental awareness, more investments, and growth in sustainability are
expected to increase the growth of the Green Technology and Sustainability
Market during the forecast period of 2024-2028.
According to TechSci Research report, “Green Technology and Sustainability Market – By Region, Competition
Forecast & Opportunities, 2018-2028, the Global Green Technology and Sustainability
Market is anticipated to register a robust growth during the forecast period,
2024-2028”. Industrialization,
urbanization, population expansion, deforestation, etc. are some of the main
factors contributing to environmental degradation. These factors have a
detrimental impact on human health, lack of biodiversity, ozone layer
depletion, and other key environmental issues. As a result, governments in
developed and developing nations are establishing strict environmental
requirements for contracts in an effort to reduce their carbon footprints
through the use of environmentally friendly goods and services, while also
motivating others to adopt more sustainable production and consumption habits.
Like the Compensatory Afforestation Bill, River and Water Conservation, Forest
Conservation, National Green Tribunal, Solar and Renewable Energy, National
Clean Air Program, Green Skill Development Program (GSDP), etc., India has
implemented a number of measures to reduce pollution, maintain ecological balance,
increase forest area, and keep its rivers clean.
Additionally, the
COVID-19 pandemic may have hampered investment in green energy technologies by
impeding environmental legislation efforts and slowing the economy. Due to
closures, lockdowns, quarantine measures, and restrictions, the world's major
economies of several countries such as India, Saudi Arabia are downturn in
2020. Due to the global pandemic, activities, including gathering, traveling,
attending conferences, and socializing, were suspended. During this time, there
was a sharp decline in the demand for energy, which meant that less CO2 was
emitted into the atmosphere globally. For 2020, it can be concluded that all
energy-related industries have experienced a sharp decline, including aviation,
which results in lower jet fuel consumption, and transportation, which results
in lower consumption.
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an in-depth TOC on "Green Technology and Sustainability Market"
Global Green Technology
and Sustainability Market is segmented into component, technology, application region, and competitive landscape.
On the basis of Technology, the IoT is
expected to be dominant in the Global Green Technology and Sustainability
Market. The growth of IoT has resulted in improving connectivity amongst
different devices worldwide. It has contributed largely to reducing energy
waste by converting normal devices into smart devices, giving them the ability
to collect energy data which can then be analyzed to boost delivery and
efficiency for environmental resilience. Thus,
IoT has resulted in building Smart Technology which promotes environmental
sustainability by optimizing the use of
conventional power sources, making reuse of materials, and recycling products,
thereby further reducing waste and carbon emissions. The sustainable solutions
range from smart homes, smart healthcare, smart agriculture, smart cities, etc.
The positive impact of the IoT is improving the quality of life while raising
environmental sustainability initiatives.
On the basis of regional
analysis, North America is expected to dominate the Global Green Technology and
Sustainability Market due to the presence of a wide range of green technologies.
The growth in the region is also majorly due to increasing government
initiatives and a wide base of key manufacturers implementing green technology.
Major players are involved in R&D
and integrating advanced technologies to overcome challenges related to climate
change such as rise in levels of emissions, pollution, and waste. Moreover, early
adoption of new technologies and inclination towards sustainability initiatives
along with energy companies adopting green approaches and establishment of
solar and wind farms are likely to contribute to the market growth.
Major
market players operating 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
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“The Global Green technology and Sustainability
marketwill only continue to expand due
to increased environmental consciousness and the growing concerns of businesses
and individuals about global warming and other significant environmental
issues. In addition, governments throughout the world are beginning to invest
in firms that use green technology to reduce carbon emissions and improve
energy efficiency.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Green Technology and
Sustainability Market - Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2018-2028. Segmented By Component (Solution,
Services {Consulting, Integration and Technology, Support and Maintenance}), By
Technology (IoT, AI and Analytics, Digital Twin, Cloud Computing, Security,
Blockchain), 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,
has evaluated the future growth potential of Global Green Technology and
Sustainability Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Green Technology and
Sustainability Market.
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