Press release
Climate Tech Market to Pass US$ 16.9 Bn by 2022 Due to Immediate Need to Cut Industrial Power Consumption | FMI
The report states that the global market is expected to reach a valuation of ~US$ 16.9 Bn by the end of 2022. Stringent regulations to control climate pollution in major economies would drive demand for climate tech solutions and services.
Demand for climate tech solutions is expected to grow rapidly across a wide range of industries, including utilities, power & energy, transportation & logistics, and oil & gas. The climate tech market is expected to grow at a rapid pace as a result of increased use of advanced technologies to monitor various forms of pollutants.
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Key Takeaways: Climate Tech Market
By component, the solutions segment is anticipated to account for the largest share of 81.7% in the global climate tech market by 2032.
By technology, the blockchain segment is estimated to grow at a robust CAGR of 23.9% during the forecast period.
By application, the carbon footprint management segment is set to grow at 23.6% CAGR during the evaluation period.
The U.S. accounted for about 81.3% of the North America climate tech market share in 2021.
The global climate tech market exhibited a CAGR of around 17.5% during the historical period (2017-2021).
Key Companies Profiled
GE
IBM
Enablon
Salesforce
Microsoft
Schneider Electric
Engie Impact
Intelex
Enviance
Sensus
Lo3 Energy
Isometrix
Taranis
Trace Genomics
Consensys
Cropx
Hortau
Promotion of Green Technology by Government Agencies to Drive the Global Market
The global climate tech market is set to expand at a rapid pace as consumers and businesses are becoming more conscious about the negative effects of climate change. Various countries are also focusing on using renewable energy sources to cut back on pollution and provide a brighter future to the next generation.
Key players worldwide are investing huge sums in renewable energy projects to support the advancement of various sectors, including transportation. Government agencies are also attempting to promote green technologies, which would aid growth.
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More Valuable Insights on Climate Tech Market
Future Market Insight's report on climate tech market industry research is segmented into five major sections - component (solutions, and services [consulting, integration & deployment, and support & maintenance]), technology (IoT, AI & analytics, digital twin, cloud computing, security, and blockchain), application (carbon footprint management, green building, water purification, soil condition/moisture monitoring, crop monitoring, forest monitoring, weather monitoring and forecasting, air & water pollution monitoring, and sustainable mining & exploration), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the climate tech demand outlook.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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