The Carbon Footprint Management by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Carbon Footprint Management, The carbon footprint management market size has grown strongly in recent years. It will grow from $9.65 billion in 2023 to $10.18 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to increase in demand for energy consumption, rising pollution rates, increasing vehicle sales and increasing emissions from aviation.
The carbon footprint management market size is expected to see strong growth in the next few years. It will grow to $12.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to government support, implementation of cop26 to limit global warming and steadily expanding construction and infrastructure. Major trends in the forecast period include leveraging ai to accurately monitor and predict emissions, focus on new technological solutions to stay competitive in the market, leveraging blockchain technology to improve carbon traceability and focusing on partnerships and collaborations to develop new technologies.
The introduction of various carbon emission policies by governments in carbon footprint management is expected to propel the growth of the carbon footprint management market. Governments across the world have taken various initiatives to reduce carbon footprint and pollution. For instance, in May 2021, the German government set new targets to reduce its carbon footprint. Under the new targets, Germany will aim for a 65%, 88%, and nearly 0% net carbon emission by 2030, 2040, and 2045 respectively. As a result, organizations have been instructed by governments to follow the norms and regulations. The adherence requirements for reducing carbon footprint would result in a growth in the demand for carbon footprint management systems as it assists organizations in identifying avenues for reducing their carbon footprint.
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The carbon footprint management market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment: On-Premises, Cloud
3) By Vertical: Manufacturing, IT And Telecom, Residential And Commercial Buildings, Transportation And Logistics, Energy And Utilities, Other Verticals
The rising focus on enterprise sustainability among organizations is a key trend gaining popularity in the carbon emission management market. Major companies operating in the carbon emission management sector are focused on launching new products to meet the rising market demand for regulating their carbon emission. For instance, in June 2021, a France-based information technology services and consulting company, Capgemini, launched Sustainable IT, an offering designed to assist IT companies in reducing their carbon footprint. The new offering is meant to support clients on their sustainability journey through its technical expertise, customized approach, and strong partner ecosystem using Capgemini’s global sustainability offering framework.
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