The AI in Environmental Sustainability Market Size was valued at USD 14.6 Bn in 2023 and is predicted to reach USD 56.9 Bn by 2031 at a 19.1% CAGR during the forecast period for 2024-2031.
The field of environmental sustainability is rapidly transforming due to artificial intelligence (AI). This potent technology is used to combat several issues, such as resource conservation and climate change. The incorporation of AI in environmental activities has started to show encouraging effects. Climate modelling and prediction are two main areas where AI has a big impact. Scientists may now create more accurate climate forecasts due to the analysis of enormous datasets by sophisticated AI algorithms. Thus, catastrophic weather occurrences like storms, droughts, and wildfires are better anticipated and governments and groups lessen their consequences. AI is not only improving prediction but also resource management. With AI, for example, optimizing energy use in buildings is becoming more effective.
AI in environmental sustainability is being driven by several factors, including technological advancements, rising investment in AI, growing strategic collaboration among the market players, and many others. However, the market's growth is restricted by variables like a shortage of skilled workforce, data privacy and security concerns, technical limitations, and others. Furthermore, advancements in NLP and consumer demand for green products are major potential opportunities for market growth during the projected period.
Competitive Landscape
Some of the Major Key Players in the AI in Environmental Sustainability Market are
- 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
Market Segmentation:
The AI in environmental sustainability market is segmented based on type, application and end-use industry. Based on type, the market is segmented as machine learning, natural language processing (NLP), computer vision, deep learning, expert systems and robotics and automation. By application, the market is segmented into 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 and green building and energy efficiency. Based on end-user industry, the industry is bifurcated into energy and utilities, agriculture, transportation and logistics, manufacturing, healthcare and life sciences, government and public sector, retail and consumer goods, education and research and others.
Based On Type, The Computer Vision Segment Is Accounted As A Major Contributor To The AI In Environmental Sustainability Market
The computer vision category is expected to hold a significant share of the global AI market in environmental sustainability. The industry is expanding due to ongoing advancements in computer vision technology, including stronger machine-learning models, more sophisticated image-processing algorithms, and higher-resolution cameras. These developments improve the precision and effectiveness of environmental monitoring applications. Furthermore, computer vision technologies for environmental sustainability are growing in several industries, including forestry, urban planning, and agriculture. A more comprehensive range of applications leads to an increase in revenue.
The Energy and Utilities Segment Witnessed Growth at a Rapid Rate
The energy and utilities segment is projected to grow rapidly in the global AI in environmental sustainability market. The rising worldwide energy demand fuels the need for more sustainable and effective energy management solutions. AI reduces environmental effects while assisting in meeting this demand. AI applications in the industry are also expanding due to encouraging government regulations and incentives for using renewable energy sources and energy efficiency. Subsidies and regulations promote investment in AI-powered solutions. Additionally, a sizable amount of public, private, and venture capital financing supports the advancement and application of AI technology in the energy and utility sectors. This investment fuels innovation and market growth.
In The Region, North America AI In Environmental Sustainability Market Holds A Significant Revenue Share.
The North American AI in the environmental sustainability market is expected to register the highest market share in revenue in the near future. AI is being heavily funded by corporate funds, government subsidies, and venture capital for environmental sustainability. The industry is developing and innovating thanks to this financial backing. Additionally, several initiatives and regulations at the federal and state levels encourage the creation and application of AI technology for environmental sustainability. Proposals such as Canada's Climate Plan and the United States' Green New Deal promote the application of cutting-edge technologies to environmental problems. Additionally, top research centres and colleges in North America are advancing the area by conducting state-of-the-art studies on AI applications for environmental sustainability. In addition, Asia Pacific is projected to grow rapidly in the global AI in environmental sustainability market due to rising investment by the market players.
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 foot printing.
AI in Environmental Sustainability Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 14.6 Bn |
|
Revenue Forecast In 2031 |
USD 56.9 Bn |
|
Growth Rate CAGR |
CAGR of 19.1% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, By Application, By End-Use Industry and By Region |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
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, and Others. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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