Green Technology and Sustainability Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 | Key players - CropX Inc., Enablon France SA, Enviance Inc., General Electric, Hortau Inc., IBM Corporation, LO3 Energy, Inc., Oracle Corporation

The global green technology and sustainability market has wide range of applications ranging from carbon footprint management to sustainable mining and exploration. With such wide range of applications, the market is trying to introduce the concept of clean and sustainable energy that will not only help in the development of the respective application, but also would not hamper the environment.

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.

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The global green technology and sustainability market was estimated at $6.85 billion in 2018 and is expected to hit $44.61 billion by 2026, registering a CAGR of 26.5% from 2019 to 2026.

The key players profiled in the green technology and sustainability market 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.

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Based on region, North America contributed to more than one-third of the global green technology and sustainability market share in 2018, and is anticipated to maintain the lion's share throughout the forecast period. The leveraged advanced energy-saving technologies from the recent past and high number of green building initiatives in this region has augmented the growth of the market. At the same time, the Asia-Pacific region would showcase the fastest CAGR of 27.6% till 2026, this is attributed to the emergence of new technologies and trends associated with the green technology.

Based on applications, the green building segment accounted for around one-fifth of the global green technology and sustainability market revenue in 2018, and is projected to rule the roost till 2026. This is attributed to the increase in development of green building application and lowering down the costs of construction. Simultaneously, the crop monitoring segment is expected to cite the fastest CAGR of 29.9% during 2019–2026. The green technology is providing an alternative way to improve the national economy without damaging the environment, which leads to the growth of the segment.

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Based on technology, the Internet of Things (IOT) segment held the major share in 2018, generating to more than one-fourth of the global green technology and sustainability market. This is attributed to the advent of green networks in IoT connectivity. On the other hand, the artificial intelligence and analytics segment is expected to grow at the fastest CAGR of 28.8% by the end of 2026. This is due to the increase in adoption of analytics technology due to its exquisite features such as energy forecasting, energy efficiency, and energy accessibility propels the growth of the segment.

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