New York, Aug. 17, 2022 (GLOBE NEWSWIRE) -- Research Nester has published a detailed market report on ‘Global Environmental Intelligence Platform Market’ for the forecast period, i.e. 2022 – 2031 which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Challenges
- Key market players and their detailed profiling
Global Environmental Intelligence Platform Market Size:
The global environmental intelligence platform market is estimated to grow at a significant CAGR over the forecast period. The market's expansion can be ascribed to increasing industry initiatives towards managing environmental concerns as well as the implementation of climate-friendly action by governments around the world. According to predictions, increasing air pollution and health issues on account of air pollution are predicted to spur market expansion over the forthcoming years. According to recent WHO data many areas of the world continue to have dangerously high air pollution levels. 9 out of 10 individuals breathe air with high levels of pollution, and recent estimates also show that outdoor and indoor air pollution caused an alarming 7 million deaths annually, worldwide.
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In addition to this, the environmental intelligence platform (EIP) is a collection of several interconnected sources that collect, store, and disseminate environmental data regarding a specific area or process. The increasing CO2 emission on account of industrialization, growing awareness and attempts to reduce carbon emissions across the entire value chain, and the benefits of globalizing supply chain networks are anticipated to be major drivers for the rising need for environmental intelligence platforms during the forecast period. For instance, despite a reduction in 2020, global energy-related CO2 emissions remained at almost 32 Gt (gigatonnes), which helped CO2 reach its highest annual average concentration in the atmosphere in 2020 of around 414.5 parts per million, or over 50% more than at the start of the industrial age.
Global Environmental Intelligence Platform Market: Key Takeaways
- North America region gains the largest portion of the revenue
- Cloud-based deployment segment to dominate the revenue graph
- Automotive end-user segment remains prominent in the end-user segment
Industrial Developments to Usher New Avenues for Environmental Intelligence Platform Market Growth Map
Environmental intelligence platform has gained adoption across businesses owing to specific features such as real-world applications including integrated sensing transportation networks, observation, and indoor sensing for cutting waste in HVAC (Heating, Ventilating, and Air Conditioning) systems. Additionally, on account of recent innovations currently, environmental intelligence platforms (EIP) now provide several significant advantages, namely monitoring for disruptive environmental factors, forecasting possible weather and climate change effects, collecting knowledge, tracking and summarizing environmental actions, and others.
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The sustainability of these advantages and growing investment in innovation for EIP are estimated to fuel the expansion of the environmental intelligence platforms market during the course of the forecast period. Integration of technological nuances such as AI, big data, and cloud services ensures dynamic personalization to highlight threats about pollen, air pollutants, climatic changes besides other hazards. Further, one of the key elements driving demand for environmental intelligence platforms across geographies is estimated to be its ability to predict forthcoming weather conditions in real-time for a variety of end-users, including IT & telecommunications, manufacturing, power & energy, transportation, and others. In turn, the rising industrialization across the globe is anticipated to boost market growth. For instance, in 2020, the global market for information technology was expected to reach around USD 5 trillion. The emerging tech niche of the IT industry which comprises mainly of big data, IoT, and AR/VR is anticipated to grow considerably between 2018-2023 to reach over 100% growth.
Global Environmental Intelligence Platform Market: Regional Overview
The global environmental intelligence platform market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Government Moves towards Carbon Emission Control to Drive Growth in the Asia Pacific Region
The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period owing to growing awareness among the people regarding air pollution and backed by increasing initiatives by the government to reduce carbon emissions in the region. As per one of the initiatives by the Indian government called “Panchamrita” it is estimated that by 2030, India will increase its non-fossil energy capacity to around 510 GW. By 2030, India will use renewable energy to cover about 50% of its energy needs, and it plans to cut its anticipated carbon emissions significantly by 2030.
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Increasing Greenhouse Gas Emission to Drive Growth in the North America Region
On the other hand, the market in North America region is estimated to gain the largest market share over the forecast period owing to the increasing greenhouse gas emission in the developed countries, supported by the rising industrial development in the region. According to the data by the Environment Protection Agency (EPA), in 2020, U.S. greenhouse gas emissions amounted to 5,222 million metric tons of carbon dioxide. In addition to this, the increasing initiatives by many industries and governments to reduce carbon emission and prominent presence of some of the key market players in the region are estimated to drive the market growth during the forecast period.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Environmental Intelligence Platform Market, Segmentation by End-User
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- Automotive
- Food & Beverages
- Manufacturing
- Aerospace
- Energy & Utilities
- Healthcare
- Government
- Others
Out of these, the automotive segment is anticipated to hold a substantial market share over the forecast period owing to the significant energy consumption in the automotive industry. Additionally, a large percentage of carbon emissions are generated by vehicles, which is predicted to further spur the segment's growth. It is believed that every gallon of gasoline burnt produces around 8,887 grams of carbon dioxide(CO2), and a typical passenger automobile releases roughly 4.6 metric tons of CO2 annually.
Global Environmental Intelligence Platform Market, Segmentation by Deployment
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- Cloud-based
- On-Premises
Among these, the cloud-based segment is estimated to hold a significant market share over the forecast periods as solutions for business intelligence that are cloud-based are less expensive to maintain than conventional ones, and they also ensure high productivity and minimal time consumption. In addition to this, growing number of cloud mobility cases by businesses is predicted to boost the segment growth over the forecast period. It is estimated that organization’s workloads operated on public cloud systems to a degree of 42% in 2020. About 22% were anticipated to run on private cloud platforms, followed by approximately 23% on hybrid cloud systems.
Global Environmental Intelligence Platform Market, Segmentation by Services
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- Implementation & Integration
- Consulting
- Support & Maintenance
- Others
Few of the well-known market leaders in the global environmental intelligence platform market that are profiled by Research Nester are International Business Machines Corporation, BreezoMeter Ltd., Cerensa, Ecochain Technologies B.V., DataAir Pvt. Ltd., Environmental Intelligence Group, State of Green, Merchant logo, Climate-KIC, Accenture plc, Copenhagen Cleantech Agency, and others.
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Recent Developments in the Global Environmental Intelligence Platform Market
- In June 2022, in order to better understand and track its environmental initiatives, find opportunities for better efficiency, and promote sustainability throughout its large real estate operations, SL Green announced that they will use software from Envizi, an IBM Company.
- In September 2021, new projects between the United States and Denmark were highlighted at the Carbon Virtual Summit 2021 in an effort to spur a surge of transatlantic collaborations between the two ecosystems to reduce carbon emissions.
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