Four Environmental Technology Innovations Shaping 2018

The demand for renewable energy and sustainable solutions are expected to grow substantially, and investing in environmentally-friendly technology can help governments and businesses stay competitive in the global arena. Here are four environmental technology innovation trends that will continue to develop in the coming year and perhaps far into the future.

  1. Environmentally-friendly technology start-ups

The increasing demand for green technology is driving the proliferation of start-ups in the industry. These innovative start-ups will dominate the landscape by offering sustainable, cost-effective solutions for businesses, governments and consumers. Some of the latest offerings include:

  • Hybrid supercapacitor batteries
  • Hydrogen-based fuel that powers fuel cells
  • Three-phase bidirectional power inverters
  • Next-generation ultracapacitors.
  1. Innovative environmental sustainability approaches

As consumers continue to be concerned about where and how products are made and packaged, companies are putting more emphasis on adopting eco-friendly technologies, materials and processes. An increasing number of companies are making a shift by applying sustainability to sourcing, manufacturing, packaging and selling products. Business strategies include transparency and authenticity. As companies test new processes and social engagement, new store formats will emerge both online and offline.

  1. Smart home technologies

The rise in technology has created the opportunity for a proliferation of smart home technologies, which are rapidly being embraced by savvy homeowners. When it comes to smart home technology, smart home products are designed to make homes more secure, accessible and energy-efficient. Smart home technology offers convenience, entertainment and helps homeowners achieve energy consumption goals by giving them greater control over managing their use.

  1. Big data science

Big data is on the forefront of building new designs for living and working. Big data is revolutionizing the fabric of business and development in a wide range of industries, including environmental companies. A common theme in big data innovation is the development of applications that deliver predictive, real-time and machine-learning capacities, such as:

  • The detection of anomalies in cybersecurity and anti-fraud measures
  • Automated pattern detection in the physical sciences
  • Churn reduction in customer relationship management (CRM)
  • Customer experience optimization in mobile apps
  • Predictive maintenance in the Internet of Things (IoT)
  • Predictive merchandising
  • Real-time performance insights
  • Real-time recommendation algorithms for use in ecommerce

Research and development (R&D) teams worldwide are experimenting with a dizzying array of new applications that will bring environmental technological innovations to every sphere of our lives. Firms today need to consider long-term sustainable strategies to gain a competitive edge. The experts and Marsh & McLennan Agency (MMA) are dedicated to creating individualized insurance programs that address your company’s unique risk profile.

Contact us here to learn more about investing in the future of your organization.