Green Technology and Sustainability: What to Expect in 2022?

The major drivers for the green technology and sustainability market are the increasing focus on low-carbon electricity generation, rapid shift to renewable energy, volatility in the price of electrical power, favorable government initiatives, surging requirement to decrease operational costs, and swift adoption of building automation systems. As a result, the market revenue will increase from $8.3 billion in 2019 to $57.8 billion by 2030, at a 20.0% CAGR between 2020 and 2030. Green technologies are those that can be used to check the degradation of the environment.

Green Technology Market Report - P&S Intelligence 

The technology segment is categorized into the internet of things (IoT), cloud computing, artificial intelligence (AI) and analytics, digital twin, blockchain, and others. Among these, the IoT category held the largest share during 2014–2019 (historical period) because of the burgeoning utilization of this technology in smart domestic appliances, smart cities, smart mobility, smart factories, and smart healthcare. The technology allows one to monitor the performance of machines with respect to vibrations, heat, noise, and, most importantly, energy consumption and collect data on all these parameters, so their operations can be optimized.

On the basis of application, the categories of the green technology and sustainability market are green buildings, air quality management, environment management, water and wastewater management, climate change management, solid waste management, and others. In 2019, the green buildings category dominated the market as such structures save energy by using only what they produce on site. The fastest growth during the forecast period is predicted in the environment management category, on account of the rapidly degrading soil quality due to intensive farming, usage of chemicals, and pollution.

Presently, North America is the largest user of these technologies because of its advanced infrastructure, high public awareness on the issue, and robust government support. Asia-Pacific (APAC) will be the fastest-growing region in the green technology and sustainability market during the forecast period because of the rapid pace of urbanization, which is putting immense pressure on natural resources and leading to alarming levels of air pollution. Further, regional governments are taking initiatives to increase energy generation from renewable resources and use advanced technologies, such as AI and IoT, to mitigate environmental degradation.

Hence, the market will keep growing with the increasing concerns about the state of the environment.

DIY Enthusiasts in U.A.E. Opting for Automotive Aftermarket E-Commerce Platforms

According to the Ministry of Interior of the U.A.E. government, in 2020, road accidents accounted for 3.14 deaths per 100,000 people in the country. The surging number of road accidents in the nation is creating a huge requirement for aftermarket components, which are used to amend the normal wear and tear of vehicles involved in such unprecedented occurrences. As per the World Health Organization (WHO), safe vehicles help in averting crashes and curtailing the likelihood of serious injuries, and it is suggested that vehicle owners should regularly check the overall health of their automobiles.

To maintain the health of automobiles, vehicle owners are constantly replacing brake parts, suspension systems, oil and transmission fluids and filters, tires, and lighting systems, which helps in the prevention of road accidents. Thus, the soaring awareness about preventive maintenance and regular check-ups of cars, to curtail the number of road accidents and vehicle breakdowns, will fuel the U.A.E. e-commerce automotive aftermarket at a CAGR of 14.8% during 2020–2025. The market was valued at $318.2 million in 2020 and it is projected to reach $634.4 million by 2025.

Moreover, the increasing popularity of do-it-yourself (DIY) culture, owing to the rising preference for vehicle customization, will also encourage vehicle owners to purchase aftermarket automotive components from e-commerce platforms. Even though vehicle mechanics and service centers in the U.A.E. have been the core customers of aftermarket components traditionally, DIY enthusiasts of the country have lately become significant customers of e-commerce platforms offering such components. Moreover, huge discounts, convenience, and extensive information offered by such platforms are encouraging vehicle owners to take up the task of upgrading their automobiles themselves.

In recent years, the automotive aftermarket customers in the U.A.E. have been showing high preference for click-&-mortar retailing, owing to the rising online presence of retailers of such vehicle parts. As click-&-mortar retailing is a combination of brick-and-mortar stores and businesses and e-commerce platforms, it mutually eliminates drawbacks exclusive to either. The new culture of click-&-mortar retailing allows conventional retailers to reach out to more customers by enabling them to upload their inventory online.

U.A.E. E-Commerce Automotive Aftermarket

Nowadays, individual vehicle owners and businesses can procure tires, grease, engine oil, gear oil, brake oil, vehicle batteries, car parts, electronics, and accessories through third party retailers and direct-to-customer (DTC) channels. The U.A.E. e-commerce automotive aftermarket offers maintenance services through automobile dealerships, specialty shops, franchise general repairs, tire shops, and locally owned repair shops/body shops. These service providers are involved in offering services for passenger cars, light commercial vehicles, two-wheelers, and medium and heavy commercial vehicles (MHCVs).

Currently, companies such as Amazon.ae, Al Mizan Auto Spare Parts LLC, Ubuy.com, Barma Auto Parts LLC, Souq.com, SSG Asia, Noon.com, AKSA Trade LLC, GiveMeAutoParts.com, Al Mizan Auto Spare Parts LLC, Ebay.com, Dbsouq.com, AutoPlus Dubai, Carbox Auto Parts, UniWorld Auto Spare Parts, Auto Parts East FZCo. (APEC), Carrefouruae.com, Ourshopee.com, and Erosdigitalhome.ae are offering the aforementioned automotive aftermarket components and services for customers in the U.A.E. These companies have been entering into strategic partnerships to increase the number of their clientele.

Therefore, the mounting cases of road accidents and increasing awareness regarding vehicle safety among people of the U.A.E. will encourage them to procure aftermarket automotive components from e-commerce platforms in the forthcoming years.

Government Cloud Demand To Rise Substantially in Future

In recent years, the adoption of cloud by government agencies across the world has increased massively and this trend is predicted to continue in the coming years as well owing to the rising internet penetration, rapid digitization of business operations, and mushrooming popularity of cloud computing. The adoption of cloud is helping government agencies reduce capital expenditure (CAPEX) and the total cost of ownership (TCO), without undercutting important public services. In addition, the demand for labor optimization, facility consolidation, asset utilization, and measured services is fueling the adoption of cloud by government agencies around the world. 

Besides, the burgeoning need for sophisticated network solutions is also fueling the expansion of the global government cloud market. According to the estimates of the market research company, P&S Intelligence, the value of the market will grow from $20.8 billion in 2017 to $49.2 billion by 2023. Furthermore, the market is expected to exhibit a CAGR of 15.4% from 2018 to 2023. With rapid technological advancements, many government information and communications technology (ICT) executives are increasingly seeking sophisticated and agile network solutions, which would assist them in efficiently reacting to various public concerns. 

These executives are leveraging government cloud for adapting to the changing technology landscape with minimal expense and hassles. Further, government agencies are adopting cloud to improve their adaptability and agility and also to enhance flexibility and ensure faster deployment of services. Platform as a service (PaaS), infrastructure as a service (IaaS), and software as a service (SaaS) are the most widely used types of cloud models by governments across the world.

Out of these, the demand for SaaS models was observed to be the highest during the last few years. This was because of the high requirement for SaaS among government agencies, on account of the low cost and pay-as-you-go capability of the solution. Furthermore, many government agencies are using the SaaS model for renting software applications from cloud service providers (CSP), who remotely host these services. Geographically, Asia-Pacific (APAC) is predicted to be the fastest-growing region in the government cloud market in the coming years.

This is credited to the growing government focus on advancements in citizen services and soaring investments being made in the information and communication technology (ICT) departments in government set-ups and the launch of promotional campaigns in the region. In addition, the growing need for implementing cloud-based security services for efficient decision making and accessibility is also propelling the demand for cloud among government agencies in the region. 

The industry is currently witnessing the trend of rapid advancements in the technology. E-government initiatives are further boosting the use of cloud computing. This is assisting governments in advancing their business flexibility and improving the penetration of their services. Departments in the education, insurance, and defense sectors have been the early adopters of cloud computing in the public sector, while others are following their lead, thereby accelerating the progress of the industry. 

Hence, it can be safely said that the use of cloud solutions by government agencies will surge sharply in the coming years, mainly because of the rapid digitization of operations and increasing internet penetration across the world. 

Increasing Internet Penetration Driving Marketing Automation Market Expansion

From $4,438.7 million in 2020, the global marketing automation market revenue is predicted to surge to $14,180.6 million by 2030. As per the forecast of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 12.3% from 2020 to 2030 (forecast period). The market is being propelled by the growing adoption of digital marketing, soaring use of social media platforms, and increasing adoption of the marketing automation software by small and medium enterprises (SMEs) across the world. 

Marketing Automation Market Report by P&S Intelligence 

With the growing penetration of the internet, both large and small and medium enterprises are increasingly focusing on adopting digital marketing to stay ahead of the competition. Moreover, they are incorporating automation tools for advertising their products and services on various channels, such as social media, web, and email, and improving the lead nurturing process. Additionally, the global digital ad spending is predicted to surpass $450.7 billion by the end of 2021, accounting for over 50% of the total ad expenditure. Germany, the U.K., Japan, China, and the U.S. are some of the top digital marketing investors around the world. 

Another major marketing automation market growth driver is the growing adoption of the automation software by SMEs. Currently, SMEs, whose number stand at 4 million across the globe, hold a large number of shares in various enterprises around the world. As per the World Bank, they represent around 90% of the businesses and over 50% of the employees. The mushrooming number of SMEs is predicted to push up the requirement for automated marketing operations. Depending on deployment, the market is divided into on-premises and cloud categories.

Between these, the cloud category held the larger share in the market in the past, and it is predicted to retain its lead in the coming years as well. The growing adoption of public cloud services is majorly contributing toward the ballooning cloud spending. Hence, it is providing a lucrative opportunity to the players for introducing cloud-supported marketing automation solutions providing data analytics and insights, which will, in turn, fuel the expansion of the market in the coming years.

Geographically, North America contributed the highest revenue to the marketing automation market in the past. This was because many market players were actively focusing on partnerships, client wins, and mergers and acquisitions, which propelled the regional market to new heights. For example, Pipedrive Inc., which is a U.S. based customer relationship management (CRM) company, completed the acquisition of Mailigen International Limited, which is a provider of email marketing automation solutions, in March 2020. The acquisition was done to support Pipedrive Inc. in providing an improved email marketing experience to customers through better communication and more effective lead generation.

Whereas, Asia-Pacific (APAC) is predicted to be the fastest-growing region in the marketing automation market throughout the forecast period. This is ascribed to the increasing penetration of the internet, growing adoption of social media platforms, booming retail and e-commerce industry, rapid advancements in the information technology (IT) sector, and rising focus of companies based in the region on marketing their products and services on various online and social media platforms. 

Thus, it can be safely said that the demand for marketing automation solutions will surge sharply in the coming years, primarily because of the growing internet penetration and rising adoption of digital marketing across the world.