How Has the Carbon Footprint Management Software Market Evolved Historically and What is its Current Size?
The carbon footprint management software market has seen considerable growth due to a variety of factors.
• The market size of carbon footprint management software has witnessed a rapid expansion in the recent past. Projected to rise from $13.61 billion in 2024 to $16.79 billion in 2025, the market presents a compound annual growth rate (CAGR) of 23.4%.
The notable growth during this period can be credited to the escalating energy needs of industries, the transition to cloud computing and a paperless economy, escalated government efforts to cut down on carbon emissions, and regulatory norms that demand compliance.
What Is The Projected Growth Of The Carbon Footprint Management Software Template Market?
The carbon footprint management software market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, it is anticipated that the carbon footprint management software market will experience remarkable growth, reaching $35.1 billion by 2029 with a 20.3% compound annual growth rate (CAGR). This exponential growth in the predicted period is due to an increasing emphasis on environmental sustainability, cost reduction, and the need for greater energy efficiency. Additionally, the growing awareness among customers towards eco-friendly products, increased importance on environmental performance, global cognizance, and concerns over climate change, as well as efforts from organizations and governments to curtail greenhouse gas emissions are driving this growth. Significant trends for the forecast period include technological advancements, carbon emissions tracking and reporting, software technology progress, technological innovation, and integrated product development.
What Are The Key Drivers Fueling Growth In The Carbon Footprint Management Software Market?
The escalating emphasis on ecological preservation is set to stimulate the expansion of the carbon footprint management software industry. The term "environmental sustainability" is defined as the mindful exploitation of resources and adoption of strategies that conserve and safeguard the world's ecosystems for nowadays and forthcoming generations. To monitor, scrutinize, and diminish greenhouse gas emanations across diverse organizational proceedings, environmental sustainability drives utilize carbon footprint management software, which encourages accountability and well-informed decision-making targeting a more environmentally conscious future. For instance, in February 2024, Eurostat, a European intergovernmental statistical agency, reported that the overall government spending on environmental protection was $141.37 billion (€130 billion), accounting for 0.8% of the EU's GDP in 2022. Further, in January 2024, according to Agriculture and Agri-Food Canada, a Canadian governmental agency, roughly 80% put environmental concerns and climate change on top of their priority list. Plus, 65% of Canadians reportedly believe they are morally obligated to opt for green products. Hence, the escalating emphasis on ecological preservation propels the carbon footprint management software market's development.
What Are The Principal Market Segments In The Global Carbon Footprint Management Software Industry?
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
Subsegments:
1) By Cloud-Based Carbon Footprint Management Software: Public Cloud, Private Cloud, Hybrid Cloud
2) By Web-Based Carbon Footprint Management Software: On-Premises, SaaS (Software As A Service)
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What Trends Are Reshaping The Future Of The Carbon Footprint Management Software Market?
Leading firms in the carbon footprint management software market are emphasizing on the advancement of technologies such as predictive analytical tools to counteract the decarbonization issues faced by energy corporations by offering a comprehensive solution. This is specifically created to aid energy businesses in confidently assessing, administrating, and implementing their decarbonization plans. For example, in September 2023, GE Vernova Inc., an offshore wind energy and services company based in the US, revealed a novel carbon management software known as CERius. This AI-driven software is devised to support energy companies in accomplishing their net-zero emission objectives by facilitating precise assessment, management, and implementation of carbon emissions data. CERius simplifies the accumulation of greenhouse gas(GHG) data and provides suggestions for conducting carbon reduction efforts via situation analysis, team cooperation, and standardized reporting rooted in GHG protocols.
Who Are the Key Players In The Carbon Footprint Management Software Market?
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
What Are The Regional Insights Into The Carbon Footprint Management Software Market?
North America was the largest region in the carbon footprint management software market in 2024. 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.
