WASHINGTON, Oct. 10, 2022 (GLOBE NEWSWIRE) — According to Vantage Market Research recent analysis of the Carbon Footprint Management Market, Leading companies across the globe are adopting carbon footprint management owing to the need for carbon emission adherence compliances, and the rising government measures and initiatives have expanded the demand across industries for carbon footprint management. The Qualitative research report has been prepared through in-depth secondary research, including carbon footprint management journals, articles, and reports from renowned firms.
The global market was valued at USD 9.5 Billion in 2020, and according to Vantage expert analysis, the carbon footprint management market size is expected to reach over USD 13.7 Billion by 2028, exhibiting a CAGR of 6.1% during the forecast period.
Vantage Market Research explores these insights in a research report titled “Carbon Footprint Management Market By Component (Solution, Services), By Service (Consulting, Integration, and Deployment), By Vertical (Manufacturing, Energy and Utilities, Transportation and Logistics), and by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Global Market Assessment (2016 – 2021) & Forecast (2022 – 2028).
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Key Insights and Findings from the Comprehensive Report:
- The global carbon footprint management market was valued at USD 9.5 billion in 2020 and is all set to surpass USD 13.7 billion by 2028, exhibiting a CAGR of 6.1% during the forecast period 2022-2028.
- Organizations moving towards sustainability, cloud computing, and a paperless economy to drive market growth.
- According to Vantage, research experts study the global carbon emissions from energy and industry have raised by 60% since 1992. Apart from this the global energy-induced carbon emission to surge by 6%, 36.2 billion tons in 2021.
- North America accounts for the lion’s share of the carbon footprint management industry in 2021 and is projected to continue its position over the forecast period. The growth is attributed due to the significant demand for carbon footprint management in several industries and the high adoption rate owing to government measures that stimulate this industry in this region.
Top Companies Profiles:
- Carbon Footprint (England, Europe)
- Salesforce (S., North America)
- ENGIE (France, Europe)
- Iso Metrix (South Africa, MEA)
- Schneider Electric (France, Europe)
- IBM (S., North America)
- SAP (Germany, Europe)
- Enablon (France, Europe)
Market Dynamics and Growth Drivers:
Several Numbers of Adoptions of Sustainability Among Leading Corporations to Drive the Market
Carbon emissions are a major cause of global warming due to market consumption activities and industrial production. Several organizations support and promote green manufacturing practices to reduce carbon footprint. Associations across the globe make a significant contribution to greenhouse gas emissions and hence, provide efficient scope for the carbon footprint management Industry. Leading companies are adopting policies related to greenhouse gas reduction to monitor and measure their emissions, it makes it easy for the associations to report these outcomes and actions to stakeholders.
The efforts of governments and international organizations to promote low carbon emission policies and the implementation of common regulatory frameworks are one of the major factors driving the growth of the market for global carbon footprint management. Also, this has increased the demand for carbon footprint control software in a number of industries. In addition, many large-scale organizations collaborate with companies, which can help these organizations manage their CSR activities to reduce their carbon footprint, thus, propelling the carbon footprint management market growth.
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The shift Towards Cloud Computing and Paperless Economy is Major Opportunity for the Leading and Emerging Players.
The record-keeping of numerous kinds needs a quantity of paper hence, the large amount of paper consumed; therefore there, is a healthy push from the government for firms to become paperless and to minimize their use or dependence on paper. Digitization through internet banking and the increasing use of digital payment wallets and applications has led to the revolution of a paperless society. Additionally, the development of cloud computing and the demand for it provides productive opportunities for the carbon footprint management industry. Computerized management systems, allow offices to scan documents and provide access to virtual versions of documents on the cloud. As a result, the integration and adoption to go paperless through cloud computing will surely boost the market in the near future.
The report on the Carbon Footprint Management Market highlights:
- Assessment of the market
- Premium Insights into Industry
- In-depth Competitive Landscape
- COVID Impact Analysis
- Historical Data, Current Data, and Forecast Data
- Top and Emerging Company Profiles
- Global and Regional Dynamics
Vantage Market Research Segment Analysis:
- On the basis of the deployment mode segment, the market has been segmented into cloud and on-premises. The cloud segment is expected to account for the largest segment of the carbon footprint management market over the forecast timeline. The cloud-based deployment model is basically used for mobile and web application security thus fuelling the segmental growth of the carbon footprint management industry.
- On the basis of industry vertical segment, the market has been segmented into manufacturing, transportation & logistics, residential & commercial buildings, energy & utilities, and IT & telecommunications. The Energy & Utility segment is buoyed by higher market growth during the forecast period, driven by rising demand for fossil fuels, solar, natural gas, and wind power in the Carbon Footprint Management Market.
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Carbon Footprint Management Market Forecast Report (2022-2028).
North America held the 2/5 of total market share in 2021 and is expected to continue its position by the projected period 2022-2028. The growth is attributed due to the presence of leading players, and high consumer expenditure which indirectly leads to the expansion of the market for carbon footprint management. Apart from this high penetration of residential and commercial buildings and a large number of market players’ demand for solutions for carbon footprint management which is likely to boost the market growth. Asia-Pacific to witness significant growth at a CAGR of 8.9% over the forecast period. The high reliance on coal for energy production and the pressure to curb carbon emissions across the globe.
Customization of the Report:
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At the beginning of January 2021: Schneider Electric announced a microgrid solution for small and medium-size buildings in Canada. The U.S. and Canada are expected to provide promising growth opportunities in the coming years.
At the beginning of September 2021: SAP announced the launch of Product Footprint Management to enable associations to monitor and measure carbon footprints for their products.
This market titled “Carbon Footprint Management Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:
|Market Size 2020 Value||USD 9.5 Billion|
|Market Forecast for 2028||USD 13.7 Billion|
|Expected CAGR Growth||CAGR of 6.1% from 2021 to 2028|
|Historic Years||2016 – 2020|
|Forecast Years||2022 – 2028|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
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