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Carbon Footprint Management Market

Carbon Footprint Management Market

Carbon Footprint Management Market Analysis by Component (Solution, Services), by Services (Consulting, Integration & Deployment, Support & Maintenance), by Deployment (Cloud, On-premises), by Vertical, by Region - Global Forecast 2022-2032

Carbon Footprint Management Market
FACT7215MR
  • Apr-2022
  • List of Tables : 60
  • List of Figures : 102
  • 170 Pages
  • Technology

Carbon Footprint Management Market Outlook

The carbon footprint management market is estimated to expand its roots and thrive at an average CAGR of 5.6%. It is poised to reach a valuation of nearly US$ 17.4 Bn by 2032 from US$ 10.2 Bn in 2022.

Previously, the market before was thriving at a higher CAGR of 6.3%, resulting in a value of US$ 9.6 Bn in 2021. As the government tightens the restrictions and curbs on the high carbon emission, the need for tracking carbon footprints and managing them rises.

The need for carbon footprint management in developing countries also rises as the environmental crisis rises gradually.

Report Attributes

Details

Expected Market Value (2022)

US$ 10.2 Bn

Estimated Market Value (2025)

US$ 12.01 Bn

Projected Market Value (2032)

US$ 17.4 Bn

Global Market Growth Rate (2022-2032)

5.6% CAGR

Market Share of Top 5 Countries

38.09%

Key Market Players

  • Enablon
  • SAP
  • Dakota Software
  • Isometrix
  • IBM
  • Schneider Electric
  • Salesforce
  • ENGIE

“Worldwide growing concerns regarding carbon emission and its impact on the atmosphere and ozone layer has led the governments around the world to adopt latest technologies to prevent the future risks and meet the allocated cap regulated from the respected authorities, fuelling the sales carbon footprint management software.”

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Impact of COVID-19 on Carbon Footprint Management Market

Covid-19 has impacted the carbon footprint management market as government-initiated lockdowns and travel bans that restricted the supply chains.

The COVID-19 has impacted multiple markets around the world by disturbing the distribution channels and logistics curbs due to the spread of covid-19. Covid-19 and its spread created panic in most nations, and saving the climate and investing in the betterment of the atmosphere was not the first priority of administrations.

Another factor that affected the carbon footprint management market through covid-19 was the shutdown of research and development programs based on climate change, creating a market vacuum for the carbon footprint management market.

To recover from these impacts, governments are now fastening the research processes and adding new layers and components to the carbon footprint management industry so that it can flourish in the forecast period.

Sales Analysis of Carbon Footprint Management Platforms from 2015 to 2021 Vs Market Outlook for 2022 to 2032

“As covid-19 adversely impacted the global carbon footprint management market, the market was flourishing at a comparatively higher CAGR of 6.3% (2015-2021) as covid-19 was not there to impact the supply chains.”

The major drivers that drive the growth of the carbon footprint management market are the rising demand for footprint platforms from industries and companies that need carbon footprint management software to adhere to carbon emission compliances.

The government and its caps on industries regarding carbon emission bounds industries to limit their carbon emission up to an extent. Therefore, the demand for carbon emission-related tools and software rises, including carbon footprint management software that helps industries monitor their overall raw consumption and carbon emission.

Another factor that drives the sales of carbon footprint management software is the integration latest technology with these management platforms that enable real-time tracking and solution-based results, preventing the greenhouse gases from reaching the ozone layer.

Industries also focus on implementing this management software and tools to safeguard their own workforce as lung and heart-related diseases are also proliferating amongst workers that work for a high carbon emission industry.

This software stores the data in the cloud that can be accessed and monitored through various devices and can also be controlled with the help of new industry practices and the adoption of green processes.

Conferences like COP2020 and other environmental-based conferences that talk about limiting the carbon emission, preventing the ozone layer by controlling the emission of greenhouse gases, and spreading awareness around the governments to put caps on multiple industries are also helping the market flourish.

An Adaptive Approach to Modern-day Research Needs

What are the Limitations for the Growth of Carbon Footprint Management Market Players?

“Growing economies and strong monopolies are in an altercation and argument over carbon caps and compliances. Also, countries lacking investments for sustainable carbon management is the major challenge that the market faces.”

The key challenge that the carbon footprint management market faces is the lack of willingness to adopt carbon emission systems that prevent high carbon and greenhouse gas emission from industries.

The governments are not putting enough caps on industries to control carbon emissions. Other than that, the new technologies integrating with the internet of things, artificial intelligence, and machine learning is also decreasing the use of carbon management systems, including carbon footprint management software.

Another reason that restrains the global carbon footprint management market is the unavailability of a basic sustainable structure on which the ecosystem can be built.

Comparative View of Adjacent Carbon Footprint Management Market

Carbon Footprint Management Market :

Attributes

Carbon Footprint Management Market

CAGR

(2022-2032)

5.6%

Market Value

(2027)

US$ 7.73 Bn

Growth Factor

Rising concerns over carbon emission and greenhouse effects on environment are raising the need for carbon footprint management software.

Opportunity

This market enables a new industry that provides implementation support that decreases the hassles around.

Key Trends

The increased adoption of sustainable platforms in corporates as a contribution to the Global Greenhouse Gas (GHG) emission.

Voluntary Carbon Offsets Market :

Attributes

Voluntary Carbon Offsets Market

CAGR

(2022-2032)

11.5%

Market Value

(2027)

US$ 586 Mn

Growth Factor

As the compliance schemes, government programs lead private companies to focus on adopting new generation recycling platforms that help in the sales of voluntary carbon offset systems.

Opportunity

Market creates multiple opportunities for carbon emission related markets, including carbon footprint management market

Key Trends

Companies are setting up sustainable plants to equal the impacts and emission that these industries produce.

Carbon Management System Market :

Attributes

Carbon Management System Market

CAGR

(2022-2032)

12.1%

Market Value

(2027)

US$ 19.83 Bn

Growth Factor

Many institutes and organizations are putting efforts in order to save the ecosystem and nature is leading the carbon management system market.

Opportunity

The approach of creating ecofriendly workspaces and limiting the GHG and carbon emission is also helping in increasing the ROI.

Key Trends

Rapid decarbonization processes and programs like carbon research management initiative (CaMRI) run by CGEP are the latest trends in the market.

The latest trend in the carbon footprint management market is the paradigm shift to cloud computing and paperless economy that gives a healthy push to companies to shift to paperless transactions, which fuels the sales of carbon footprint management software that track the carbon emission graph.

Another trend in the market is emerging economies such as China, India, and the Middle East offer several subsidies for industries using these methods and sustainable platforms to prevent the release of GCG and other Cabron gases. This enables other governments to take positive action in the direction of implementing carbon footprint management software and other programs.

Some of these steps involve using tools and filtration caps in factories and industries to decrease carbon emissions. Before using these tools, the carbon footprint management software is used to determine the emission levels and document that data through the cloud or on-premise deployment, pushing the overall sales of carbon footprint management software.

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Segmentation Outlook

What is the Growth Outlook for the Carbon Footprint management Market According to Different Segments?

“Reducing the risk of data loss and better hold on information puts clout segment on top in deployment type category. ”

The carbon footprint management market is categorized by component, services, deployment model, and vertical.

These categories are further segmented into small segments that grow in multiple marketing spaces and perform differently along with distribution channels. The component category is segmented into solutions and services, while the service category is segmented into consulting, integration & deployment, support & maintenance.

The deployment mode category is divided into Cloud and on-premises, while the vertical category is divided into manufacturing, energy & utilities, residential & commercial buildings, transportation & logistics, and It & Telecom.

What are the Different Segments of the Carbon Footprint Management Market based on Component?

By component, the solution segment is the biggest segment in the component that thrives at a CAGR of 5.1% and is likely to hold the biggest portion in the forecast period.

The factors behind the excessive growth of this segment are easy implementation, better response, and accurate data tracking for small and large industries. Easy availability due to the active supply chain is another factor driving the sales of carbon footprint management software.

What is the Major Deployment Type of Carbon Footprint Management Platform and its Different Segments?

By deployment type, the Fact.MR study finds that the cloud deployment type has the highest sales potential through 2032. The adoption of cloud deployment systems is likely to grow at a good CAGR during the forecast period.

Consumer demand for cloud deployment type, owing to its characteristics to store data in enlarged space, fast data transfer, and secured storage type. In the future, the use of cloud deployment types is forecasted to grow in proportion to the need for resilient data security.

Which is the Major Service of the Carbon footprint Management Platform?

By service, the study at Fact.MR explains that the consultation service has held the potential through 2032. The adoption of consulting is likely to grow at an average CAGR of 5.1% during the forecast period.

Consulting Service is in demand as it gives a perspective and helps in planning a future sustainable ecosystem for an industry. In the future, consumption of consulting services is forecasted to grow in proportion to the need for a protected future.

Regional Outlook

What is the Performance of Carbon Footprint Management Market in Different Geographical Regions?

Region

CAGR

United States (US)

5.3%

United Kingdom (UK)

4.3%

China

5.1%

Japan

4.7%

South Korea

4.4%

The carbon footprint management market is divided into regions; North America, Latin America, Asia Pacific, Middle East and Africa (MEA), and Europe. The biggest market is the United States, which is thriving at a CAGR of 5.3% between 2022-2032.

The region is expected to hold a market revenue of US$ 6.1 Bn by the end of 2032. Growing concerns over climate and the position as the global leader in the climate change race that enables the US to invest huge amounts of money into R&D programs in order to find solutions are pushing the market’s growth in the region.

Another reason behind the high growth of the carbon footprint management market in this region is the integration of new-gen technology that allows end users to track the GHG and carbon emissions remotely. Apart from this, China is the second highest growing market for carbon footprint management market.

Chinese region will hold US$ 1.3 Bn by the end of 2032 as it thrives on a moderate CAGR of 5.1% between 2022-2032. Japan also grows along with China with the forecasted value of US$ 1 Bn (2032) at a CAGR of 4.7% between 2022-2032.

Competitive Outlook

How Strong is the Competitive Landscape for the Carbon Footprint Management Market?

The competitive analysis done by of the carbon footprint management explains that the market is dynamic in nature and hold enough space for new players that focus on using cutting edge technologies that provide accurate solutions to specific industries. The key players also focus on mergers and collaborations to expand their market spaces into new regions, pushing the sales of carbon footprint management platform.

What are the Recent Developments Achieved by the Carbon Footprint Management Market Players?

  •  Isometrix has tied up with Laragon in order to expand its roots in European and Latin American market. This pushes the sales of carbon footprint management platforms
  • ENGIE has tied up with Accenture, Vlocity and Salesforce in order to provide low-carbon energy and services to support ENGIE’s customers all around the world.
  • Salesforce has introduced sustainability cloud that is a carbon accounting product for multiple industries and businesses, fuelling the sales of carbon footprint management platforms.

Key Segments

  • By Component

    • Solution
    • Services
  • By Services

    • Consulting
    • Integration & Deployment
    • Support & Maintenance
  • By Deployment

    • Cloud
    • On-premises
  • By Vertical

    • Manufacturing
    • Energy & Utilities
    • Residential & Commercial Buildings
    • Transportation & Logistics
    • IT & Telecom
  • By Region

    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa (MEA)

- FAQs -

The carbon footprint management market is estimated to record a CAGR of 5.6% during the forecast period.
The Carbon footprint management market is predicted to be valued at US$ 17.4 Bn by 2032.
The Carbon footprint management market was valued at US$ 9.6 Bn in 2021.
Energy & utilities segment is the biggest segment in the carbon footprint management market by vertical.
United States (North America) region is predicted to witness the CAGR of nearly 5.3% in the carbon footprint management market.

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