The global carbon management software market size reached US$ 13.4 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 26.99 Billion by 2028, exhibiting a growth rate (CAGR) of 12.02% during 2023-2028. The increasing global warming and climate change concerns and the growing environmental consciousness represent some of the key factors driving the market.
Carbon management software comprises a range of advanced tools and solutions that enable organizations to strategize, plan, and implement greenhouse gas (GHG) emissions management tactics to supervise and reduce their carbon footprints. A carbon footprint refers to the amount of GHG released into the air due to activities, such as the combustion of fuels. The carbon management software helps to manage this by intensive tracking, reporting, calculating, and measuring air quality and energy usage. The carbon management software further aids in monitoring energy consumption and formulating reliable approaches and practices that comply with mandatory government regulations. Consequently, it finds extensive applications across various industries, including transportation, information technology (IT), and telecommunications.
Carbon Management Software Market Trends:
The increasing environmental consciousness represents one of the key factors driving the market growth. Stringent governmental regulations regarding ecological conservations are acting as a major growth-inducing factor. In line with this, various industries are now adopting policies that strictly adhere to the environmental regulations as mandated by the governments of different countries, which, in turn, is facilitating the utilization of carbon management software. Furthermore, the large-scale integration of artificial intelligence (AI), the Internet of Things (IoT), cloud computing, and big data analytics solutions to allow better control and reduce the risk of data loss during carbon footprint managing operations is favoring the market growth. This is further supported by the advent of advanced software-based emission management systems (EMS) to track and manage footprints effectively. Moreover, the widespread adoption of carbon management software across multiple firms to implement enterprise sustainability and corporate social responsibility (CSR) programs is propelling the market growth. Apart from this, the initiatives undertaken by non-governmental organizations (NGOs) to sensitize the common mass regarding the available solutions to effectively manage carbon footprints are positively contributing to the market growth. The market is also driven by the increasing shift toward cloud computing and the advent of the paperless economy, especially during the COVID-19 pandemic. Other factors, such as rapid urbanization and industrialization, increasing concerns regarding health hazards as a consequence of deteriorating air quality, the advent of technologically advanced software variants, and extensive research activities undertaken in the field of sustainable development, are creating a positive outlook for the market.
Key Market Segmentation:
the analyst provides an analysis of the key trends in each segment of the global carbon management software market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on component, application, and industry.
The report has also provided a detailed breakup and analysis of the carbon management software market based on the component. This includes software and services.
According to the report, software represented the largest segment.
Greenhouse Gas Management
Air Quality Management
A detailed breakup and analysis of the carbon management software market based on the application has also been provided in the report. This includes energy, greenhouse gas management, air quality management, and sustainability.
According to the report, energy accounted for the largest market share.
IT and Telecom
Energy and Power
The report has also provided a detailed breakup and analysis of the carbon management software market based on the industry. This includes manufacturing, IT and telecom, government sector, energy and power, and others.
According to the report, manufacturing represented the largest segment.
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
According to the report, North America was the largest market for carbon management software. Some of the factors driving the North America carbon management software market included the increasing environmental consciousness and stringent governmental regulations regarding sustainable development and environmental conservation.
The report has also provided a comprehensive analysis of the competitive landscape in the global carbon management software market. Detailed profiles of all major companies have also been provided. Some of the companies covered include ENGIE Impact, GreenStep Solutions Inc., Greenstone+ Ltd., Metrix Software Solutions (Pty) Ltd., Salesforce Inc., SAP SE, Sphera Solutions Inc., Wolters Kluwer N.V., etc.?Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
How has the global carbon management software market performed so far and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global carbon management software market?
What are the key regional markets?
Which countries represent the most attractive carbon management software markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the application?
What is the breakup of the market based on the industry?
What is the competitive structure of the carbon management software market?
Who are the key players/companies in the global carbon management software market?