What the U.S. Green Tech market looks like
The Green Tech market
Due to climate change and an increase in environmental awareness, it's no surprise that the green technology and sustainability market is rapidly growing with more and more segments added to it. Based on applications, the market is currently segmented into carbon footprint management, green building, water purification, crop monitoring, soil condition/moisture monitoring, weather monitoring and forecasting, air and water pollution monitoring, sustainable mining and exploration, forest monitoring, water leak detection and water purification. The agricultural segments are included because they are increasingly implementing technology like Artificial Intelligence, digital twin and Internet of Things to increase crop growth.
The growth of the market is expected to go from USD 8.7 billion in 2019 to USD 28.9 billion by 2024.
The market is driven by several factors with the main ones being technological innovation, rapidly approaching grid parity and cost-effective and reliable grid integration.
The U.S. Green Tech market
The U.S. is the single largest market for environmental technologies in the world, representing a quarter of the $1.2 trillion global market. The market is also among the fastest growing international cleantech markets. Much of what is happening in renewable energy, sustainable manufacturing, clean technologies, environmental industries, and green build is taking place in the Midwest.
GoToMarketUSA has helped several Scandinavian Green Tech companies establish and grow in the U.S. market, with Micropower, Robotic Lawn Care and Netled as a few examples. To read some of our most recent sample case studies, click here.
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