Global Green Technology and Sustainability Market to Reach $48.36 Billion by 2027, States the Report by Allied Market Research

Published : 3 years ago, on 27/09/2021

A lead analyst at AMR highlighted the market across North America region is expected to dominate in terms of revenues throughout the forecast period.

Allied Market Research published a research report on the green technology and sustainability market. The findings of the report states that the global market for green technology and sustainability is expected to reach $48.36 billion by 2027, manifesting a CAGR of 24.3% from 2020 to 2027. The report provides valuable data on changing market dynamics, key segments, top investment pockets, and competitive scenario for market players, new entrants, investors, and shareholders.

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 “The artificial intelligence & analytics segment is expected to experience significant growth in the coming years, owing to development of new AI-based green technology solutions for various agriculture purposes. In addition, surge in adoption of AI-based technology among various applications such as green building, carbon footprint management, water leak detection, water purification, fire detection, and sustainable mining & exploration is expected to provide lucrative opportunities for the expansion of the market.” Pramod Borasi, Research Analyst, ICT at Allied Market Research.

The report provides detailed information based on the key determinants of the market to help market players in devising growth strategies and capitalizing on opportunities rise in environmental awareness and concerns, surge in use of RFID sensors, and rise in consumer and industrial interest for the use of clean energy resources drive the growth of the global rigid plastics packaging market. Whereas, high cost of product and solution related to green technology and sustainability solutions restrain the market growth. Conversely, initiatives to tackle climate change and air pollution offer lucrative opportunities in the near future.

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The report provides a detailed scenario of impact of the Covid-19 pandemic on the green technology and sustainability market globally. This helps the investors, market players, and new entrants to strategize according to impacts by the outbreak of the pandemic. The unprecedented arrival of COVID-19 led to increase the growth of the artificial intelligence and analytics segment, as the adoption of artificial intelligence and analytics among manufacturing and other industries has increased.

The report offers detailed segmentation of the global green technology and sustainability market on the basis of technology, application, and region. These insights are helpful for the new entrants as well as current market players to capitalize on the fastest growing and highest revenue generating segment to accomplish growth in the coming years. 

By technology, the market is divided into Internet of Things (IoT), cloud computing, artificial intelligence & analytics, digital twin, cybersecurity, and blockchain. The Internet of Things (IoT) segment accounted for the highest revenue share in 2019, and is expected to lead the trail throughout the forecast period.

Based on application, the market is segregated 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. The green building segment contributed to the highest revenue share in 2019, and is anticipated to maintain its dominance throughout the forecast period.

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On the basis of region, the market is studied across regions including Asia-pacific, Europe, North America, and LAMEA. The global green technology and sustainability market across North America dominated with maximum revenue share in 2019. In addition, the region would rule the roost by the end of the forecast period. At the same time, the Asia-Pacific region is expected to manifest the fastest growth during the forecast period.

The key market players profiled in the report include CropX Inc., Enablon France SA, Enviance Inc., General Electric, Hortau Inc., IBM Corporation, LO3 Energy, Inc., Oracle Corporation, Tech Mahindra Limited, and Trace Genomics, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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