The global Green Technology and Sustainability Market size to grow from USD 11.2 billion in 2020 to USD 36.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 26.6% during the forecast period. The increasing awareness related to environmental concerns and the growing consumer and industrial interest for the use of clean energy resources are driving the adoption of green technology and sustainability solutions and services in the market.
The services segment is expected to grow at the highest CAGR during the forecast period
The component segment comprises solution and services. The overall services segment has a major influence on the green technology and sustainability market. These services help lower operational costs, increase the overall revenue, and improve business productivity and performance. The solution segment is estimated to account for a larger market size during the forecast period.
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The blockchain segment is estimated to grow at the highest CAGR during the forecast period
The green technology and sustainability market by technology has been segmented into IoT, AI and analytics, digital twin, cloud computing, security, and blockchain. Various startups are already using blockchain as a tool to make energy grids more accessible and sustainable by promoting data sharing in real time. Energy-intensive cryptocurrency mining has caused a spike in carbon emission, and hence blockchain is capable of driving innovation in the field of green technology. The cloud computing technology segment is expected to have the largest market size during the forecast period. This growth can be attributed to the benefits of the cloud to provide real-time remote access to data through sensors, satellite images, and weather.
The collective advancement of industrial and technology sectors in developing economies is rapid, leading to the creation of numerous environmental issues. Hence, green technology and sustainability measures are being promoted in parallel with these developments. Green technology encompasses a broad spectrum of production and consumption technologies for monitoring, assessment, pollution prevention, and control. The low-carbon technologies are rapidly evolving in terms of capabilities, costs, and impacts on environmental and natural resources. The benefits of these technologies may also vary among regions due to differences in the level of economic development, climate, and other impacting factors.
Key players in the green technology and sustainability market include GE (US), IBM (US), Enablon (France), Salesforce (US), Microsoft (US), Schneider Electric (France), Engie Impact (US), Intelex (Canada), Enviance (US), Sensus (US), LO3 Energy (US), Isometrix (South Africa), Taranis (Israel), Trace Genomics (US), ConsenSys (US), CropX (Israel), Hortau (US), IOT Solutions and Consulting (Europe), Pycno (UK), MineSense Technologies (Canada), WINT (US), OIZOM (India), Treevia (Latin America), SMAP Energy (UK), and Accuvio (Ireland). These companies are continuously innovating to enhance their green technology and sustainability capabilities for better efficiency and reliability, thereby paving the way for the global green technology and sustainability market to emerge as a mainstream technology.
Intelex, a privately held company, was founded in 1992 and is headquartered in Ontario, Canada. The company is one of the leaders in developing Environment, Health, Safety and Quality (EHSQ) programs. It develops web and mobile applications that streamline and simplify environmental, safety, and quality management. Intelex provides software solutions to help companies ensure compliances, mitigate risks, and enhance performance globally. It offers scalable, web-based software, which provides clients with flexibility in managing, tracking, and reporting essential corporate information. Intelex’s Environment and Sustainability solution simplifies the management of environmental compliance and sustainability reporting by streamlining the management of environmental data, managing emission inventories, and automating reporting around sustainability KPIs.
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Enablon was founded in 2000 and is headquartered in Paris, France. It was acquired by Wolters Kluwer in July 2016. The company provides environmental, health, safety and sustainability, and operational risk management software and SaaS solutions. It also provides a software platform that is a combination of technologies, contents, and services, and enables organizations to be more sustainable. The company’s solutions find applications in air quality management, carbon emission forecasting, environmental analysis, greenhouse gas management, waste management, and water management in the automotive, chemicals, energy and utilities, financial services, food and beverages, healthcare and pharmaceuticals, manufacturing, mining and metals, and oil and gas industries. Enablon also offers implementation, training, and support services. The company has a presence in Europe and North America.
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