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(CityRegions.Com, September 27, 2024 ) According to the latest research by InsightAce Analytic, the Global AI in Environmental Sustainability Market is valued at US$ 14.6 Bn in 2023, and it is expected to reach US$ 56.9 Bn by 2031, with a CAGR of 19.1% during the forecast period of 2024-2031.
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The use of artificial intelligence (AI) technology to further and assist environmental sustainability initiatives is known as "AI in environmental sustainability." Using AI to perform activities like resource optimization, waste reduction, environmental monitoring, and climate change mitigation are some examples of how this might be done. AI can assist in creating more effective and efficient plans for sustainability and environmental preservation by evaluating massive datasets, finding trends, and forecasting future events. Society can achieve substantial progress in reaching long-term environmental sustainability goals by incorporating AI into a variety of areas.
List of Prominent Players in the AI in Environmental Sustainability Market:
• Microsoft Corporation
• IBM Corporation
• Google LLC
• Amazon Web Services (AWS)
• Intel Corporation
• NVIDIA Corporation
• Siemens AG
• General Electric (GE)
• Schneider Electric SE
• Accenture plc
• Oracle Corporation
• Enablon (Wolters Kluwer)
• SAP SE
• C3.ai Inc.
• SAS Institute Inc.
• ABB Ltd.
• Wipro Limited
• Hitachi, Ltd.
• Cisco Systems, Inc.
• Envision Energy
• CleanCloud Technologies
• Huawei Technologies Co., Ltd.
• Ecobot
• ClimateAI
• Green Energy Hub
• Others
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Market Dynamics:
Drivers:
Large-scale environmental data collection, analysis, and interpretation are now possible because of advancements in AI technologies like machine learning, data analytics, and sensor networks. These developments make it possible to monitor, forecast, and manage environmental resources and challenges more accurately. Furthermore, national and international organizations are implementing strict environmental laws and policies to lower carbon emissions, control waste, and protect natural resources. These rules push the adoption of AI technologies to reach sustainability standards and guarantee compliance.
Challenges:
Professionals with the know-how to create, deploy, and oversee AI technologies are in limited supply. This skills gap may slow the adoption and efficacy of AI technology in environmental sustainability. Furthermore, integrating AI technologies with current systems and infrastructure can be expensive and difficult. Ensuring that new AI tools are compatible and work seamlessly with existing technologies may provide issues for organizations. Furthermore, there are still technological constraints with AI technology despite their improvements. For example, because natural systems are complex and variable, AI models may only sometimes be able to forecast environmental phenomena effectively.
Regional Trends:
The North America AI in environmental sustainability market is expected to register a major market share in terms of revenue and is projected to grow at a high CAGR in the near future. The growth of the AI in environmental sustainability industry in the region is attributed to the presence of major players, technological advancements, innovative product launches and others. Besides, Europe had a substantial share in the market due to its developed economy and growing adoption of the product. Moreover, the deployment of AI technologies is driven by national and European Union rules that promote environmental sustainability and climate action. Sustainability projects driven by AI can receive financing and support from programs like Horizon Europe and the European Green Deal. In addition, a lot of European businesses are using AI in their sustainability plans to meet CSR goals, lower their carbon footprints, and adhere to environmental laws.
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Recent Developments:
• In July 2024, Product Footprinting, a new AI-powered technology designed to help businesses calculate carbon emissions for products and lessen environmental effects, was introduced by the sustainability platform CO2 AI. Leveraging artificial intelligence, Paris-based CO2 AI offers solutions designed to assist large and complex companies in measuring impact and identifying levers to decrease impact at scale. The company cites a study by CO2 AI and BCG that shows only 38% of businesses obtain sufficient product-level data from suppliers, and claims that the new solution addresses the requirement for more precise and quick product carbon footprinting.
Segmentation of AI in Environmental Sustainability Market
AI in Environmental Sustainability Market- By Type
• Machine Learning
• Natural Language Processing (NLP)
• Computer Vision
• Deep Learning,
• Expert Systems
• Robotics and Automation
AI in Environmental Sustainability Market- By Application
• Climate Change Mitigation
• Renewable Energy Optimization
• Environmental Monitoring and Assessment
• Waste Management and Recycling
• Emission Reduction and Control
• Conservation and Biodiversity
• Smart Agriculture and Precision Farming
• Water Management and Conservation
• Sustainable Urban Planning
• Green Building and Energy Efficiency
AI in Environmental Sustainability Market- By End-Use Industry
• Energy and Utilities
• Agriculture
• Transportation and Logistics
• Manufacturing
• Healthcare and Lifesciences
• Government and Public Sector
• Retail and Consumer Goods
• Education and Research
• Others
AI in Environmental Sustainability Market- By Region
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Insight Ace Analytics
Diana D’souza
+917972967118
diana.dsouza@insightaceanalytics.com
Source: EmailWire.Com 
Source: EmailWire.com
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