Expanding consumer & industrial interest in using clean energy resources to save environment & increased use of RFID sensors across industries drive the market.
PORTLAND, PORTLAND, OR, UNITED STATE, November 16, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The USD 74.64 Billion Green Technology and Sustainability Market Witness Significant Growth by 2030.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global green technology and sustainability market size was valued at USD 10.32 billion in 2020, and is projected to reach USD 74.64 billion by 2030, growing at a CAGR of 21.9% from 2021 to 2030.
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Rise in environmental awareness and concerns, surge in consumer & industrial interest for use of clean energy resources, and increase in use of RFID sensors have boosted the growth of the global green technology and sustainability market. The market across North America held the largest share in 2020, accounting for more than one-third of the market. However, several green technology solution providers have introduced new strategies and business plans for surviving in the market.
The global green technology and sustainability market is segmented on the basis of technology, application, and region. By technology, the market is bifurcated into Internet of Things (IoT), cloud computing, artificial intelligence & analytics, digital twin, cybersecurity, and blockchain. On the basis of application, it is divided into green building, carbon footprint management, weather monitoring & forecasting, air & water pollution monitoring, forest monitoring, crop monitoring, soil condition/moisture monitoring, water purification, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on technology, the internet of things (IOT) segment held the largest share in 2020, accounting for around one-fourth of the market. However, the artificial intelligence and analytics segment is estimated to register the highest CAGR of 23.7% during the forecast period.
On the basis of application, the green building segment dominated the market in 2020, contributing to more than one-fifth of the market. However, the crop monitoring segment is projected to manifest the highest CAGR of 24.9% during the forecast period.
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The global green technology and sustainability industry is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2020, accounting for more than one-third of the market. However, the market across Asia-Pacific is expected to register the highest CAGR of 23.0% during the forecast period.
The global green technology and sustainability market report includes an in-depth analysis of the prime market players such as Enablon France SA, CropX Inc., General Electric, Enviance Inc., IBM Corporation, Hortau Inc., Oracle Corporation, LO3 Energy, Inc., Tech Mahindra Limited, and Trace Genomics, Inc.
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● The Covid-19 pandemic and implementation of lockdown by the government in several countries hampered the green technology and sustainability market. Moreover, the shutdown of various ongoing projects of solar panels and windmills hampered the market.
● However, several green technology solution providers have introduced new strategies and business plans for surviving in the market.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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