Market Size –
The carbon footprint management software market size has grown exponentially in recent years. It will grow from $11 billion in 2023 to $13.61 billion in 2024 at a compound annual growth rate (CAGR) of 23.7%. The growth in the historic period can be attributed to rising energy demand by industries, a shift towards cloud computing and a paperless economy, increasing government initiatives to reduce carbon emissions, and regulatory compliance requirements.
The carbon footprint management software market size is expected to see exponential growth in the next few years. It will grow to $29.34 billion in 2028 at a compound annual growth rate (CAGR) of 21.1%. The growth in the forecast period can be attributed to a growing focus on environmental sustainability, cost savings and increased energy efficiency needs, increasing consumer consciousness and inclinations towards environmentally conscious products, higher priority on environmental performance, global awareness and climate change worries, organizations and governments prioritizing lowering greenhouse gas emissions. Major trends in the forecast period include technological developments, tracking and reporting of carbon emissions, software technology advancements, technological innovation, integrated product developments.
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Scope Of Carbon Footprint Management Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Carbon Footprint Management Software Market Overview
Market Drivers –
The growing focus on environmental sustainability is expected to propel the growth of the carbon footprint management software market. Environmental sustainability refers to the responsible use of resources and practices that preserve and protect the planet’s ecosystems for current and future generations. Environmental sustainability initiatives use carbon footprint management software to track, analyze, and reduce greenhouse gas emissions across various organizational operations, fostering accountability and informed decision-making toward a greener future. For instance, in February 2024, according to Eurostat, a Europe-based intergovernmental statistical organization, general government expenditure on environmental protection amounted to $141.37 billion (€130 billion), which was 0.8% of the EU’s GDP in 2022. Additionally, in January 2024, according to Agriculture and Agri-Food Canada, a Canada-based governmental department, around 8 out of 10 prioritize environmental issues and climate change. Additionally, 65% of Canadians believe they have a moral responsibility to choose environmentally friendly products. Therefore, the growing focus on environmental sustainability is driving the growth of the carbon footprint management software market.
Market Trends –
Major companies operating in the carbon footprint management software market are focusing on technological developments such as predictive analytics tools, to address energy firms’ decarbonization challenges by providing a comprehensive solution. It is designed to help energy companies confidently measure, manage, and operationalize their decarbonization strategies. For instance, in September 2023, GE Vernova Inc., a US-based offshore wind energy and services provider, launched a carbon management software called CERius. It is an AI-powered software designed to assist energy companies in achieving their net-zero emissions goals by enabling precise measurement, management, and operationalization of carbon emissions data. CERius automates the collection of greenhouse gas (GHG) data and provides recommendations for implementing carbon reduction efforts through scenario analysis, team collaboration, and standardized reporting based on GHG protocols.
The carbon footprint management software market covered in this report is segmented –
1) By Type: Cloud-Based Carbon Footprint Management Software, Web-Based Carbon Footprint Management Software
2) By Features And Functionality: Data Gathering And Analysis, Emission Tracking And Reporting, Scenario Modeling And Planning, Compliance And Regulatory Management
3) By Enterprise Size: Large Enterprises, Small And Medium Enterprises (SMEs)
4) By Applications: Manufacturing, Information Technology (IT) And Telecom, Commercial Building, Transportation, Utilities
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Regional Insights –
North America was the largest region in the carbon footprint management software market in 2023. The regions covered in the carbon footprint management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the carbon footprint management software market are Alphabet Inc., Microsoft Corporation, Intel Corporation, International Business Machines Corporation, Oracle Corporation, Schneider Electric SE, Honeywell International Inc., SAP SE, NRG Energy Inc., Atos SE, Wolters Kluwer N.V., OneTrust LLC, EcoVadis Inc., EKI Energy Services Limited, Ideagen Plc, FirstCarbon Solutions Corporation, ProcessMAP Corporation, Verisae LLC, ClimeCo Corporation, Enviance Inc., NativeEnergy Inc., Greenstone+ Ltd., thinkstep Ltd., ClimatePartner Gmbh, Sustainable Travel International Inc., Tasman Environmental Markets Pty Ltd., Greenly Co
Table of Contents
1. Executive Summary
2. Carbon Footprint Management Software Market Characteristics
3. Carbon Footprint Management Software Market Trends And Strategies
4. Carbon Footprint Management Software Market – Macro Economic Scenario
5. Global Carbon Footprint Management Software Market Size and Growth
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31. Carbon Footprint Management Software Market Other Major And Innovative Companies
32. Global Carbon Footprint Management Software Market Competitive Benchmarking
33. Global Carbon Footprint Management Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Carbon Footprint Management Software Market
35. Carbon Footprint Management Software Market Future Outlook and Potential Analysis
36.Appendix
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