The Green Technology and Sustainability Market size is expected to reach $38. 15 billion by 2027.
According to Yahoo! Finance, the release of the report “Global Green Technology and Sustainability Market By Technology, By Application, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027″ – https://www.reportlinker.com/p06193310/?utm_source=GNW
Creating renewable energy without impacting the environment or human health is one of the major objectives of green technology and sustainability. In addition, green technology refers to a group of products, methods, applications, and processes and that are employed to preserve the environment and natural resources.
Additionally, governments across the world are putting massive investments to adopt green technologies for conserving nature and decreasing harmful environmental effects, thereby propelling the growth of the market. For example, in the year 2018, India decided to join Partnership for Action on Green Economy (PAGE) with Government, UN agencies, and other organizations. This partnership focuses on contributing to India’s Green Economy, Sustainable Development Goals (SDGs), and Nationally Determined Contributions to the Paris Agreement plans.
Rising utilization of RFID sensors across various industrial verticals would act as the driver for the growth of the green technology and sustainability market during the forecasting period. One of the major restraints for the growth and demand of green technology and sustainability is the massive product costs related to solutions. In addition, the absence of regulations for green technology would act as a restraining factor for the growth of the market.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has impacted the green technology and sustainability market in both positive as well as negative manners. As a result of lockdown, carbon emission was drastically declined around the globe. Thus, a significant decline in emissions owing to the global pandemic is a short-term gain. In addition, the global pandemic had a devastating impact on recycling efforts around the globe.