Environmental Technology Services Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028

The Global Environmental Technology Services Market is anticipated to grow at a steady pace in the forecast period, 2024-2028 and is likely to register a very high CAGR in the forecast period.

Environmental technology, also known as green technology or clean technology, is the use of one or more of environmental science, green chemistry, environmental monitoring, and electronic devices to monitor, model, and conserve the natural environment and resources, as well as to lessen the adverse effects of human involvement. The phrase is also used to refer to renewable energy-generating technologies like photovoltaics and wind turbines. The foundation of environmental technology is sustainable development. Another usage of the phrase 'environmental technology' is to refer to a group of technological gadgets that can support resource management that is sustainable.

Less Usage of Energy

The development of new technologies with the goal of observing, conserving, and minimizing the detrimental impact of technology on the environment and the use of resources is referred to as environmental technology, also known as clean technology or green technology. The market is being driven by environmental technology's growth factors, which are primarily the need to use less energy. The use of environmental technology includes use of LED lights, which are 60% more effective than conventional bulbs. Additionally, their lifespan is longer. Energy may now be produced more easily and cleanly without harming the environment. A+++-rated freezers use relatively little power since they harness renewable resources like the sun, wind, and water. The contaminated waters have been cleaned up with the use of segmental technology. When compared to regular energy, solar power is affordable.

Rising Awareness Among the Customers

The industry will grow as consumers and businesses become more aware of climate change, and as more countries place a premium on using renewable energy sources to cut back on pollution and provide a brighter future for the next generation. The UN's quest for zero emissions has spread around the world, and every country is vying to meet the goal. Numerous investments in renewable energy have been made by businesses that support transportation and other advancements. The Ford Motor Company is investing heavily in building the largest network of electric car charging stations in North America. The market is being driven by the government's attempts to promote green technologies.

Increased Awareness of the Global Water Crisis¬¬¬
Water is a naturally occurring resource that makes up about 70% of the earth. The quantity of freshwater that is readily available, however, is just 2.5%. The quantity of freshwater that is readily available, however, is just 2.5%. By 2050, there will be an estimated 9.7 billion people on the planet, which will require this amount of freshwater. Water usage has grown over the past ten years at a rate that is consistently outpacing the rate at which the world's population is growing. A territory is deemed water-stressed by the UN when it withdraws 25% or more of its renewable freshwater resources.

As a result, there is an increasing need to manage the demand and consider water as a precious resource. Countries facing water shortages are implementing a variety of solutions to address this issue. For example, a United Nations University Institute for Water, Environment and Health (UNU-INWEH) research claims that the adoption of the Sustainable Development Goals (SGDs) by UN member states in 2015 prompted other nations, such as Canada, to prioritize wastewater treatment procedures, water cycling, and water efficiency. In order to provide safe drinking water, water is thus being treated using cutting-edge technologies. The removal of suspended particles and microbiological contaminants is the goal of several treatment schemes. Reverse osmosis (RO) and electrodialysis are two emerging technologies that can be used in the desalination process.

Market Segmentation

The Global Environmental Technology Services Market is divided into Technology, Components, Application, Vertical, Region and Competitive Landscape. Based on Technology, the market is divided into IoT, Artificial Intelligence, Cloud Computing, and Blockchain. Based on Components, the market is segmented into Services and Solutions. Based on Application, the market is divided into Air & Water Pollution Monitoring, Water Purification, Crop Monitoring, Carbon Footprint, Waste Management, and Others. Based on Vertical, the market is segmented into Residential, Municipal, and Industrial.

Market Players

Major market players in the Global Environmental Technology Services Market are Lennox International Inc, Teledyne Technologies Incorporated, Waste Connections Inc, TotalEnergies SE, Covanta Holding Corporation, Hitachi Zosen Corporation,, GEM Enviro Management Private Limited, Vital Waste, Exxon Mobil Corporation, and BP Plc.

Report Scope

In this report, the Global Environmental Technology Services Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Environmental Technology Services Market, by Technology:

• IoT
• Artificial Intelligence
• Cloud Computing
• Blockchain

Environmental Technology Services Market, by Components:

• Services
• Solutions

Environmental Technology Services Market, by Application:

• Air & Water Pollution Monitoring
• Water Purification
• Crop Monitoring
• Carbon Footprint
• Waste Management
• Others

Environmental Technology Services Market, by Vertical:

• Residential
• Municipal
• Industrial

Environmental Technology Services Market, by Region:

• Asia-Pacific
• North America
• Europe
• Middle East & Africa
• South America

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Environmental Technology Services Market.

Available Customizations

The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.