Press release
Environmental Intelligence Platform Market Expected to grow at a CAGR of 12.5% by the end of Forecast Period to 2031
Environmental Intelligence Platform Market
The market is projected to witness significant growth due to several factors such as the increasing demand for environmental intelligence platforms across different industries, the growing need for reliable and cost-effective environmental intelligence platforms, growing environmental concerns such as air pollution and carbon emission, environmental intelligence platform providers landscape, globalization of supply chain networks, and rising availability of cost-effective environmental intelligence platform along with technological advancements.
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Growth in developments of the reconfigurable environmental intelligence platform (REIP) across various enterprises tested on real-world applications such as integrated sensing transportation networks, observation, indoor sensing for reducing waste in HVAC (Heating, Ventilating, and Air Conditioning) systems.
It also offers some of the major benefits such as monitoring for disruptive environmental, predicting potential impacts of climate change and weather, gaining insights, measuring and reporting on environmental initiatives, and others. The reliability of such benefits drives the growth of the environmental intelligence platform market during the forecast period.
There is an increasing demand for environmental intelligence platforms for various end-users such as IT & telecommunications, power & energy, transportation, and others for upcoming weather conditions in real-time is one of the major factors fueling demand for environmental intelligence platforms across regions.
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It offers various features such as increased competitiveness, producing actionable insights for businesses, predictive modeling, and real-time visualizations.
The COVID-19 pandemic outbreak has messed up many industries, including the environmental intelligence platform market. The environmental intelligence platform is used to control and improve environmental quality during the COVID-19 pandemic. The pandemic has significantly offered numerous opportunities for the environmental intelligence platform market as it enables driving business growth in a changing climate.
The development & implementation of technologies such as big data, artificial intelligence and analytics tools, and others can be projected to lead to the development of the environmental intelligence platform market with much more capabilities and improved performance.
The US is one of the largest markets for environmental intelligence platforms globally. The US environmental intelligence platform market is set to tread on the historic pattern of bust and boom during the assessment period 2021-2031. Demand is likely to remain muted in the next couple of years, as several end-use industries make a gradual recovery.
Furthermore, the U.S. is the dominant country in the global environmental intelligence platform market accounting for around 15%-20% of the market share in 2021.
Moreover, strong corporate internal policies regarding safe working conditions and environmental monitoring, along with the steady availability of financial resources, are expected to drive the deployment of an environmental intelligence platform in North America.
The adoption of Environmental Intelligence Suite is an AI-powered SaaS solution is expected to rise considerably to reduce disruption in South Asia & Pacific region. Demand for an environmental intelligence platform is increasing due to the customizable user's business model and company structure, maximum operational efficiency, and environmental compliance monitoring across the South Asia & Pacific region.
The South Asia & Pacific is expected to emerge as the highest growing regional market due to increasing focus by developing countries on deploying health-focused environmental intelligence platforms to improve living conditions and user retention, control, and reduce pollution levels.
Some of the leading providers of environmental intelligence platform include
BreezoMeter Ltd.
International Business Machines Corporation
Cerensa
Ecochain Technologies B.V.
DataAir Pvt. Ltd.
Others.
Key providers of environmental intelligence platforms focus on providing products that help expand process capabilities & outcomes and optimize present and future technologies in the overall commercial sector.
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For instance, in October 2021, IBM launched a new Environmental Intelligence Suite, which is a set of AI-based software tools that will help organizations prepare for and respond to weather and climate risks. The Environmental Intelligence Suite enables organizations to automatically streamline and manage environmental risks.
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