Global Carbon Footprint Management Market Analysis Report 2023-2028: Ever Increasing Government Initiatives & COP27 Implementation Paints a Bright Future for the Market
DUBLIN, March 16, 2023 /PRNewswire/ -- The "Carbon Footprint Management Market -GlobalForecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global carbon footprint management market is projected to reach USD 30.8 billion by 2028 from an estimated USD 11.3 billion in 2023, at a CAGR of 22.2%
The solutions segment of the carbon footprint management market, by component, is expected to be the dominate the market during the forecast period. The identification, evaluation, and verification of the environmental impacts, energy consumption, and carbon emissions attributable to a product, package, facility, and/or organization are majorly included under solutions.
By adopting relevant and internationally accepted standards, carbon footprint solutions can assist businesses and organizations in communicating their sustainability claims with authenticity, which may boost market growth.
Cloud technology is expected to be the fastest growing segment of the carbon footprint management market, by deployment
By deployment mode, the cloud-based deployment of carbon footprint management software is expected to lodge the fastest growth rate between 2023 and 2028.
Cloud-based options ensures safety and security for users or businesses. It provides benefits like improved IT security, all-time support, better scalability, and speed. Cloud deployment allows the vendor to remotely troubleshoot issues with the software and ensure fast maintenance and upgradation. All these factors are expected to drive the market during the forecast period.
By organization size, the corporates/enterprises segment is expected to be the fastest in the carbon footprint management market during the forecast period
The carbon footprint management market is segmented, by organization size, into corporates/enterprises, mid-tier enterprises, and small businesses.
Amongst the early adopters of carbon management solutions are large corporation due to the large sizes of their facilities and increased pressure from stakeholders. Smaller businesses might see less shareholder pressure and public scrutiny of their ESG and carbon footprint management practices.
This is due to a lack of attention to concerns from the corporate and board of members regarding ESG. However, this scenario is changing and many economies now require smaller organizations to report the emissions as well. This may lead to a high growth of this segment in the market.
The manufacturing vertical is expected to dominate the carbon footprint management market, by vertical, during the forecast period
The manufacturing sector, by vertical, is expected to be the largest during the forecast period, owing to various government and industry regulations to support green and sustainable economic activities. One of the main sources of global carbon emissions has been identified to be the manufacturing industry.
Carbon auditing or footprinting is seen as the first step to a strategic approach to including carbon emission reduction in the management of the supply chain as it enables the identification of the areas with the highest emissions and provides opportunities for reductions with the adoption of good practices. Carbon footprint management software, hence, has a high demand from the manufacturing vertical.
North America is expected to dominate the carbon footprint management market
North America held the largest regional share of the global carbon footprint management market in 2022. The region is highly industrialized and has amongst the highest per capita emissions in the world.
The governments in the region have as a result started introducing binding regulations on organizations for ESG disclosure. Carbon footprint management solutions, as a result, are expected to see rapid growth in the region during the forecast period.
Competitive Landscape
The global carbon footprint management market is dominated by a few major players with an extensive regional presence and many local players.
The leading players in the carbon footprint management market are SAP (Germany), IBM (US), Schneider Electric (France), Salesforce (US) and ENGIE (France).
Premium Insights
- Regulations for Reduction of Carbon Emissions to Boost Carbon Footprint Management Market Between 2023 and 2028
- Asia-Pacific to Grow at Highest CAGR in Carbon Footprint Management Market During Forecast Period
- Cloud Segment and US Accounted for Largest Market Shares in North America in 2022
- Solutions Segment to Dominate Carbon Footprint Management Market in 2028
- Consulting Segment to Lead Carbon Footprint Management Market in 2028
- Cloud Segment to Account for Larger Share of Carbon Footprint Management Market in 2028
- Corporates/Enterprises Segment to Account for Largest Market Share in 2028
- Manufacturing Segment to Dominate Carbon Footprint Management Market, by Vertical, in 2028
- Metals & Mining Segment to Lead Carbon Footprint Management Market, by Manufacturing Type, in 2028
Market Dynamics
Drivers
- Increasing Government Initiatives to Reduce Carbon Emissions
- Rising Demand for Energy Consumption by Industries
- COP27 Implementation to Limit Global Warming
Restraints
- High Initial Investment
Opportunities
- Shift Toward Cloud Computing and Paperless Economy
Challenges
- Challenges in Comprehensively Measuring, Monitoring, and Reporting Scope 3 Emissions
Technology Analysis
- Blockchain-based Carbon Footprint Management Development
- Market Map
Value Chain Analysis
- Carbon Footprint Management Software Vendors
- System Integrators and Service Providers
- End-users
- Post-Sales Services
Case Study Analysis
- Sasfin Bank Ltd Utilizes Isometrix Software to Mitigate Risk
- Problem Statement: 2022 - Risk Mitigation
- Ben & Jerry's Offset Provides Seed Funding for More Sustainable Agriculture
- Problem Statement: 2021 - Sustainable Agriculture
Company Profiles
Key Players
- SAP
- Salesforce
- ENGIE
- Schneider Electric
- IBM
- Carbon Footprint
- Isometrix
- Intelex
- Trinity Consultants
- Dakota Software
- Enablon
- Envirosoft
- Enviance
- Accuvio
- ESP
Other Players
- Processmap
- Nativeenergy
- Energycap
- Locus Technologies
- Ecotrack
- Carbon Trust
For more information about this report visit https://www.researchandmarkets.com/r/pku00p
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