Global ESG Reporting Software Market Report 2022: A $1.5 Billion Market by 2027 - Increasing ESG Investments from Local and Global Enterprises to Drive Market Opportunities

DUBLIN, March 21, 2023 /PRNewswire/ -- The "Global ESG Reporting Software Market - Global Forecast to 2027" report has been added to  ResearchAndMarkets.com's offering.

The report forecasts the global ESG Reporting software market to grow from USD 0.7 billion in 2022 to USD 1.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 15.9%

The major factors driving the growth of the ESG Reporting software market include increase in cloud adoption across verticals, economic development, regulatory environment and socially responsible investing, assist in managing investment risks.

Services segment to grow at a higher CAGR during the forecast period

ESG reporting services includes strategy, due diligence, design, implementation and consulting. ESG strategy examines the organization's ESG risk landscape, clarifies, and establishes direction, and establishes priorities. It aids in defining what will be required to achieve a competitive advantage and future business success.

ESG strategy describes how a company intends to allocate and use its limited resources, such as its financial and material assets. Typically, the development of an ESG strategy (plan and process) will include some strategic option formulation, implementation planning, and strategic evaluation. The process of discovering a company's ESG policies and risk factors is known as ESG due diligence.

Cloud segment to record the higher CAGR during the forecast period

Cloud for Sustainability and ESG assists businesses of all sizes in meeting their carbon reduction and sustainability objectives. Microsoft 'Sustainability Manager', which is part of the offering, enables organizations to record, report, and reduce their environmental impact through increasingly automated data connections that deliver actionable insights more easily.

The 'Emissions Impact Dashboard' applications give customers visibility into the emissions generated by their use of Microsoft cloud services. OneTrust ESG & Sustainability Cloud has been launched to assist organizations with clear target setting, automated ESG reporting, and transparent benchmarking.

The OneTrust ESG & Sustainability Cloud, with fully integrated Planetly by OneTrust technology, enables businesses to build and execute their ESG and sustainability strategy on a flexible cloud-based platform. The OneTrust ESG & Sustainability Cloud enables organizations to define core environmental and sustainability metrics, track progress toward those objectives, and foster trust with key stakeholders through increased transparency.

Europe to record a significant market size during the forecast period

Robust economic infrastructure and high internet penetration make Europe one of the top markets for cloud-based services. The major countries considered in the region's analysis are the UK and Germany. The established internet and robust economic infrastructure with business demand for ESG solution, make Europe one of the top 3 markets and the second largest market in the overall ESG Reporting software market.

The major countries considered in this report for analysis are the UK, Germany, and others. The UK and Germany are the countries with the highest potential for the ESG Reporting software market among all other countries. Business demands in the European market are diverse, reasonably like North America. Enterprises in this region have strong technical expertise along with bigger IT budgets.

Premium Insights

• Increasing ESG Investments from Local and Global Enterprises to Drive Market
• Solutions to Account for Larger Share During Forecast Period
• On-Premises Deployment to Remain Dominant
• Large Enterprises to be Major Users
• Banking, Financial Services, and Insurance to Account for Largest Share During Forecast Period
• Asia-Pacific to Emerge as Best Market for Investments in Next Five Years

Market Dynamics

Drivers

• Consistent Growth in Corporate Data Volume
• Surge in Growth of Credible Corporate Disclosures
• Consistent Throughput of Existing Applications
• Providing Graphical Materiality Map in Visualizing Important Pointers

Restraints

• Huge Initial Capital Expenditure
• Multiple ESG Frameworks

Opportunities

• Climate Stress Testing to Gain Traction Among Financial Services Organizations
• Assessment of Natural Capital and Biodiversity Risks to Grow Significantly

Challenges

• Turning Net Zero Pledges into Near-Term Action
• Rising Pressure on Corporate Boards and Government Leaders to Enhance ESG Skills

Case Study Analysis

• Case Study 1: ESG Performance Analytics to Deliver Excellence
• Case Study 2: Making Standardization Achievable
• Case Study 3: Reduced Energy Usage

Technological Analysis

• Artificial Intelligence and Machine Learning
• Analytics

Regulatory Landscape

• General Data Protection Regulation
• SEC Rule 17A-4
• ISO/IEC 27001
• System and Organization Controls 2 Type II Compliance
• Financial Industry Regulatory Authority
• Freedom of Information Act
• Health Insurance Portability and Accountability Act
• Global Reporting Initiative (GRI)
• Sustainability Accounting Standards Board (SASB)
• Sustainable Finance Disclosure Regulation (SFDR)
• Non-Financial Reporting Directive (NFRD)
• International Integrated Reporting Council (IIRC)
• Task Force on Climate-Related Financial Disclosures (TCFD)

Company Profiles

Key Players

• Wolters Kluwer
• Nasdaq
• PwC
• Workiva
• Refinitiv
• Greenstone
• Diligent
• Sphera
• Cority
• Intelex

Other Companies

• Novisto
• Emex
• Enhelix
• Anthesis
• Diginex
• Bain & Company
• Keramida
• Isometrix
• Vervantis
• Accuvio

For more information about this report visit https://www.researchandmarkets.com/r/a4kvtm

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SOURCE Research and Markets