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NEW YORK, June 29, 2022 /PRNewswire/ — The green technology and sustainability market will be driven by factors such as the increasing use of RFID sensors across industries. IoT is used to handle a wide range of applications such as smart grid, eHealth, and intelligent transportation. Tasks can be completed autonomously with the help of sensors and smart devices connected via high-speed data. This necessitates new forms of green communication between different smart devices, which improve power consumption and bandwidth usage. Smart devices can also automate operations across the production cycle, from irrigation and fertilization to controlling bugs or pests. RFID tag and sensor collaboration might lead to various new green project solutions, including efficient energy generation , waste management, and recycling. Such factors are expected to fuel the growth of the market in focus.
The market size is expected to grow by USD 26.10 bn from 2021 to 2026. Moreover, the growth momentum of the market will progress at a CAGR of 23.8% during the forecast period. The green technology and sustainability market is segmented by product (solution and services) and geography (North America, EuropeAPAC, South Americaand Middle East and Africa).
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The green technology and sustainability market covers the following areas:
Green Technology And Sustainability Market Sizing
Green Technology And Sustainability Market Forecast
Green Technology And Sustainability Market Analysis
Market Challenge
The market growth will be challenged by factors such as lack of regulations for green technology. A consistent legal framework is required for the adoption of green technology solutions. An essential phase of the green technology and sustainability processes is the transfer of technology from developed to developing countries. Most nations implement regulations based on regional factors such as macroeconomic and political risk factors , along with commercial requirements. Moreover, the fluctuating macroeconomic variables, with the varying structure of regulatory rules, make it difficult for suppliers to fulfill end-user demands. Such factors are expected to hamper the growth of the market in focus.
Companies Mentioned
Some of the key vendors operating in the market include AAA Taranis Visual Ltd., ConsenSys Software Inc., Cority Software Inc., CropX Inc., Digi International Inc., ENGIE SAFortive Corp., General Electric Co., Hortau Inc., International Business Machines Corp., LO3 Energy Inc., Microsoft Corp., Oracle Corp., Salesforce.com Inc., Schneider Electric SE, SMAP Energy Ltd., Tech Mahindra Ltd., Trace Genomics Inc., Wolters Kluwer NV, and Xylem Inc. The key offerings of some of these vendors are listed below:
- AAA Taranis Visual Ltd. – The company offers green technology and sustainability solutions such as precision agriculture solutions for farmers to lower waste and improve environmental sustainability.
- ConsenSys Software Inc. – The company offers green technology and sustainability solutions such as blockchain technology to maximize green financing and collaboration.
- CropX Inc. – The company offers green technology and sustainability solutions such as irrigation systems for agriculture to optimize water and energy efficiency.
- General Electric Co. – The company offers green technology and sustainability solutions such as renewable energy solutions that combines onshore and offshore wind, hydro and innovative technologies.
- International Business Machines Corp. – The company offers green technology and sustainability solutions such as AI-powered solutions and platforms to help plan a sustainable path forward in climate risk management, infrastructure and operations, supply chain, electrification, energy and emissions management, and sustainability strategy.
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Green Technology And Sustainability Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 23.8% |
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Market growth 2022-2026 |
USD 26.10 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
22.57 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
