Global Green Technology & Sustainability Market
Dublin, Dec. 02, 2022 (GLOBE NEWSWIRE) -- The "Green Technology and Sustainability Market by Technology (IoT, AI & Analytics, Digital Twin, Cloud Computing), Application (Green Building, Carbon Footprint Management, Weather Monitoring & Forecasting), Component and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global Green Technology and Sustainability market is expected to grow from USD 17.8 billion in 2022 to USD 60.7 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 27.8% during the forecast period. The rising consumer and industrial interest in using clean energy resources to conserve the environment are the key factors projected to drive the adoption of green technology and sustainability solutions and services across the globe. The objective of the report is to define, describe, and forecast the green technology and sustainability market size based on Component, Organization Size, Deployment mode technology, application, vertical, and region.
The services segment is expected to grow at the highest CAGR during the forecast period
The component segment comprises solutions and services. The services segment has been further divided into professional services and managed services. These services play a vital role in functioning green technology and sustainability solutions. The services segment is broadly segmented into consulting, integration and deployment, support, and maintenance services. The vendors require technical support services and consulting services to manage the deployment of such solutions. The services ensure faster and smoother implementation, which helps to optimize all kinds of operations. These services are integral in deploying technology solutions and are taken care of by solution and service providers.
The AI and analytics segment is expected 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. The cloud computing technology segment is expected to have the largest market size during the forecast period. AI and analytics find use cases in all industries, such as manufacturing, automotive, healthcare, and agriculture. Several companies are leveraging these technologies to reduce their emissions and make better data-driven models of environmental processes to improve their ability to study current and future trends, including water availability, ecosystems wellbeing, and pollution.
The crop monitoring segment is expected to grow at the highest CAGR during the forecast period.
The green technology and sustainability market by applications has been segmented into 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, and sustainable mining and exploration. The agriculture sector is increasingly looking at leveraging technology for better crop yield. The agriculture sector implements innovative technologies, such as AI, digital twin, and IoT. Companies are using sensors and various IoT-based technologies to monitor crop and soil health. Various AI and ML tools are being used to predict the optimal time to sow seeds and get alerts on risks from pest attacks. Farmers are quickly adopting high-tech ways of protecting plants against weeds and various kinds of outdoor pests.
Growing Awareness and Concern Towards the Environment
Increasing Consumer and Industrial Interest for Use of Clean Energy Resources to Conserve Environment
High Costs for the Deployment of Green Technology and Sustainability Solutions
Rising Initiatives to Tackle Climate Change and Air Pollution
Adoption of Advanced Technologies, Such as AI, IoT, and Big Data, Across Industries
Lack of Tailored Solutions to Address Unique Environmental Solutions
No. of Pages
2022 - 2027
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2027
Compound Annual Growth Rate
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Green Technology and Sustainability Market, by Component
7 Green Technology and Sustainability Market , by Application
8 Green Technology and Sustainability Market , by Technology
9 Green Technology and Sustainability Market , by Organization Size
10 Green Technology and Sustainability Market , by Deployment Mode
11 Green Technology and Sustainability Market, by Vertical
12 Green Technology and Sustainability Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Adjacent Market
IoT Solutions and Consulting
For more information about this report visit https://www.researchandmarkets.com/r/fk9qyr
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