InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Carbon Footprint Management Market Size, Share & Trends Analysis Report By Component (Solutions, and Services), Deployment Mode (On-premises, and Cloud), Organization Size (Corporates/Enterprises, Mid-Tier Enterprises, Small Businesses), Vertical (Manufacturing, Energy & Utilities, Residential & Commercial Buildings, Transportation & Logistics, IT & Telecom, Financial Services, And Government)- Market Outlook And Industry Analysis 2031”
The global Carbon Footprint Management market is estimated to reach over USD 55.87 billion by 2031, exhibiting a CAGR of 20.17% during the forecast period.
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Due to the need to comply with carbon emissions regulations, businesses across many industries are adopting carbon footprint management software at an increasing rate. Because of this, demand for carbon footprint monitoring software has increased across industries. It is projected that the expanding government initiatives around the world will accelerate market expansion. As an illustration, SAP increased its software market share in the carbon footprint management industry in June 2020 by upgrading and introducing a system to quantify carbon emissions.
Furthermore, escalating environmental worries motivate businesses to inform staff about the dire situation. For instance, Deloitte announced the launch of a new curriculum related to climate learning for all of its 330,000 employees worldwide in August 2021.
List of Prominent Players in the Carbon Footprint Management Market:
- Accuvio Sustainability Reporting Software
- Carbon EMS
- Carbon Footprint Ltd.
- Dakota Software Corporation
- Eco Track
- EnergyCAP, Inc.
- Envirosoft Corporation
- IBM Corporation
- Intelex Technologies ULC
- IsoMetrix Software
- Laragon Sustainability Solutions
- Locus Technologies
- ProcessMAP Corporation
- SAP SE
- Schneider Electric
- Trinity Consultants
- Wolters Kluwer N.V.
Due to technological advancements like the Internet of Things (IoT), artificial intelligence (AI), and big data solutions, the market for carbon footprint management is expanding. Businesses may automatically track emissions throughout their whole carbon footprint with AI-powered data engineering. They are able to gather information from operations, business travel, IT hardware, and every link in the value chain, including suppliers of raw materials and components, carriers, and even the consumers of their products’ final products. AI may make use of data from novel sources, such as satellites.
The main challenge in the market for managing carbon footprints is facing is a lack of enthusiasm for carbon emission controls that stop large-scale emissions of greenhouse gases from industrial sources. To reduce carbon emissions, governments are not restricting industry enough. Other than that, the use of carbon management systems, such as carbon footprint management software, is declining due to new technologies integrating with artificial intelligence, the internet of things and machine learning. A fundamental sustainable foundation on which the ecosystem can be constructed is another factor impeding the global market for managing carbon footprints.
Due to its rapid economic change and increased awareness of the region’s rising carbon emissions, Asia-Pacific is expected to have considerable growth over the forecast period. This is expected to fuel the expansion of carbon footprint management solutions in the area. Furthermore, the incorporation of cutting-edge technology that enables end users to track GHG and carbon emissions remotely is another factor contributing to the rapid growth of the market for carbon footprint management in this region.
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- In October 2020, For an undisclosed sum, Canadian carbon reduction solutions provider Radicle Group Inc. purchased Climate Smart Companies Inc. Radicle Group hopes that by making this acquisition, it will be able to serve better the demands of customers who want to determine their emissions and then manage a carbon plan to grow their business. A Canadian company called Climate Smart Companies offers help managing carbon footprints.
Segmentation of Carbon Footprint Management Market-
- Integration & Deployment
- Support & Maintenance
By Deployment Mode-
By Organization Size-
- Mid-Tier Enterprises
- Small Businesses
- Food & Beverages
- Metals & Mining
- Chemical & Materials
- Electronics & Consumer Goods
- Pharmaceutical & Healthcare
- Energy & Utilities
- Residential & Commercial
- Transportation & Logistics
- IT & Telecom
- Financial Services
- The US
- The UK
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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