How Has the Emission Management Software Market Size Evolved in Recent Years?
The emission management software market has seen considerable growth due to a variety of factors.
• The market size for emission management software has witnessed a significant escalation of late. This market is projected to escalate from $20.69 billion in 2024 to $24.6 billion in 2025, reflecting a compound annual growth rate (CAGR) of 18.9%. The historical growth period was driven by factors such as adherence to environmental regulations, corporate social responsibility (CSR) initiatives, globalization coupled with supply chain impacts, targeted energy efficiency, industry-oriented emission standards, the shift towards green and sustainable routines, as well as integration with energy management systems.
What Is The Forecast For The Emission Management Software Market Size Evolve over the Forecast Period?
The Emission Management Software market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the emission management software market is anticipated to experience significant growth, reaching a value of $54.31 billion by 2029 with a compound annual growth rate (CAGR) of 21.9%.
The surge in this forecasted period can be credited to more rigid emission reduction goals, net-zero ventures, increased emphasis on scope 3 emissions, regulatory demand for clear reporting, effectiveness in compliance reporting, enhanced data precision, and reporting, insistence on resilience and adaptation. Key trends for this forecasted period include carbon footprint management, the shift to cloud-based applications, mobile emission tracking, lifecycle evaluation tools, integration of emission trading platforms, scenario examination and modeling, alliances with sustainability initiatives, IoT, and sensor technologies.
What Are The Essential Drivers Behind The Growth Of The Emission Management Software Market?
The anticipated surge in the desire for clean, renewable energy is projected to trigger expansion in the emission management software sector. Renewable energy is derived from natural resources that regenerate at a rate faster than they can be depleted. The adoption of renewable energy is on the rise, owing to its role in reducing pollutants and greenhouse gas emissions, major contributors to climate change. Emission management software assists in tracking and quantifying air emissions for effective management and reporting. In an example from September 2023, the UK’s Government Digital Service reported that renewable energy contributed 42.1% to the power generation in the second quarter, marking a rise of 3.5 percentage points from the equivalent quarter in the preceding year. Thus, the ever-increasing demand for clean and renewable energy is likely to catalyse the growth of the emission management software industry.
How Is The Global Emission Management Software Market Divided Into Key Segments?
The emission management software market covered in this report is segmented –
1) By Component: Software, Service
2) By Product Type: Cloud-Based, Web-Based
3) By Application: Small And Medium Enterprises, Large Enterprises
4) By Industry: Manufacturing, IT And Telecom, Government Sector, Energy And Power, Other Industries
Subsegments:
1) By Software: On-Premises Emission Management Software, Cloud-Based Emission Management Software, Analytics And Reporting Tools, Compliance Management Software
2) By Service: Implementation Services, Consulting Services, Training And Support Services, Maintenance And Upgrades
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What Trends Are Reshaping The Future Of The Emission Management Software Market?
Leading corporations in the emission management software market are developing innovative technologies like CERius to boost their market profitability. CERius is a software tailored for managing carbon emissions. For example, GE Vernov, an American electrical company, introduced CERius in September 2023. This software not only automates the collection of greenhouse gas (GHG) data but also provides useful recommendations for implementing measures to cut down carbon emissions. It serves as a vital tool for closely monitoring, overseeing, and utilizing specific insights with more accuracy, all this aiming to keep up with the goals of achieving carbon-neutral emissions. The software features scenario analysis, facilitates team cooperation, and offers standardized reporting aligned with GHG protocols. It's designed to streamline the process of obtaining more precise GHG data and operationalize initiatives designed to decrease carbon emissions.
Who Are the Key Players In The Emission Management Software Market?
Major companies operating in the emission management software market include:
• Accenture PLC
• The International Business Machines Corporation
• Greenstone Ltd.
• SAP SE
• Cority Software Inc.
• General Electric Company
• Mitsubishi Hitachi Power Systems Ltd.
• Johnson Matthey PLC
• Ducon Technologies Inc.
• Babcock & Wilcox Co.
• Accuvio Software
• Arolytics
• Lakes Environmental Software
• EcoAct
• The Carbon Trust
• Clear Blue Environmental
• Dakota Software Corporation
• Ecometrica
• Enablon Corp.
• Envirosoft Corporation
• FLINTpro
• Benchmark Digital Partners LLC
• Intelex Technologies Inc.
• IsoMetrix Software
What Are The Regional Insights Into The Emission Management Software Market?
North America was the largest region in the emission management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the emission management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
