Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Since the invention of steam engine brought up the industrial revolution, the planet earth has seen rapid climate changes, including severe droughts, increased depletion of groundwater reserves, seawater acidification, rising seawater levels, rapid spread of diseases and the extinction of species. Therefore, unless we intervene, these changes may prove irreversible. Hence, green technology is nothing but a solution and the only hope to counteract the effects of climate change and pollution. Green technology is a term used to describe any technology and science used to create products that are more environment friendly. This concept works on a basic principle of protecting the environment and to even repair the past damage to the environment. The main purpose of green technology is to develop renewable energy without affecting human health or the environment.
One of the prime examples of green technology is the solar cell, which is used to convert energy from natural light into electrical energy, by the process of photovoltaic. Generating electricity from solar energy equates to less consumption of fossil fuels, as well as the reduction of pollution and greenhouse gas emissions.
Increasing environmental awareness and concerns amongst the individuals is one of the major driving factors for the green technology and sustainability market. There is a huge rise in the demand for the products that are less harmful to the environment; hence, various industries have started implementing solutions for introducing such products.
Also, the various government initiatives for reducing the carbon footprint and to minimize the waste production is a major factor that is believed to affect the growth of the market over the forecasted period.
The outbreak of a tiny virus has drastically affected many industries at a very huge level around the globe. The downfall in the economy was not only because of the spread of a pandemic, but also due to the measures taken by the government to stop and slow down the spread of the disease. Hence, the partial or complete lockdown, travel restrictions, and so on has left a major impact on almost all the manufacturing and service industries, including the green technology & sustainability market. A lot of expansion projects of wind and solar panels have been halted, which have had a direct impact on the growth of the industry. Also, there has been a huge change in the government policies, resulting in the altered patterns of energy demand around the world.
The report analyses the green technology & sustainability market based on technology, component, application, and geography. On the basis of technology, it is segregated into Internet of Things (IoT), cloud computing, artificial intelligence & analytics, digital twin, security, and block chain. On the basis of the component, it is bifurcated into solution and services. By application, it is divided into green building, carbon footprint management, weather monitoring & forecasting, crop monitoring, fire detection, water leak detection, sustainable mining & exploration, and soil condition or moisture monitoring.
The green technology & sustainability market, on the basis of technology is divided into internet of things, artificial intelligence & analytics, digital twin, cloud computing, block chain. The Internet of Things (IoT) describes the network of physical objects that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet. The artificial intelligence refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. The block chain is nothing but a growing list of records, called blocks, which are linked using cryptography.
The green technology & sustainability market, on the basis of component is segregated into solutions and services.
As per the application, the green technology & sustainability market is divided into green building – refers to a structure & the application of processes that are environmentally responsible, and resource efficient throughout a building’s life – cycle. Carbon footprint management assesses the carbon footprint of organizations’ products according to international standards. Weather monitoring & forecasting, crop monitoring, fire detection, water leak detection, sustainable mining & exploration, moisture monitoring are other applications of green technology.
Geographically, the green technology & sustainability market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world regions which includes Latin America, and Middle East &Africa.
The region of North America is expected to dominate the market, due to the the presence of majority of the green technology & sustainability vendors in that region. Also, the APAC region is expected to have favourable market conditions for huge investments and a greater CAGR during the forecasted period.
Some of the major players operating in this market include GE (US), IBM (US), Enablon (France), Salesforce (US), Microsoft (US), Schneider Electric (France), Engie Impact (US), Sensus (US), SMAP Energy (UK), MineSense Technologies (Canada), OIZOM (India), among many others.
The report analyses the green technology & sustainability market based on the technology type, the component, applications, and geography. On the basis of technology, it is segregated into Internet of Things (IoT), cloud computing, artificial intelligence & analytics, digital twin, security, and block chain. On the basis of the component, it is bifurcated into solution and services. By application, it is divided into green building, carbon footprint management, weather monitoring & forecasting, crop monitoring, fire detection, water leak detection, sustainable mining & exploration, and soil condition or moisture monitoring.
Some of the major players operating in the market include GE (US), IBM (US), Enablon (France), Salesforce (US), Microsoft (US), Schneider Electric (France), Engie Impact (US), Sensus (US), SMAP Energy (UK), MineSense Technologies (Canada), OIZOM (India), among many others.
Geographically, the green technology & sustainability market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world regions which includes Latin America, and Middle East & Africa.
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