With an average CAGR of 5.6%, the carbon footprint management market is predicted to grow and prosper. It is anticipated to increase in value from US$ 10.2 billion in 2022 to almost US$ 17.4 billion by 2032. The market was previously growing at a higher CAGR of 6.3%, with a value of US$ 9.6 Bn in 2021 as a result. The need for monitoring and managing carbon footprints grows as the government tightens the regulations and controls on high carbon emissions.
The market for carbon footprint management includes services such as carbon footprint assessments, carbon reduction strategy development, and carbon offsetting. It also includes products such as carbon accounting software, renewable energy solutions, and energy-efficient products. Key players in the carbon footprint management market include companies such as Carbon Trust, South Pole, Bureau Veritas, and Enviro-Mark Solutions.
The carbon footprint management market is growing due to increasing public awareness of the environmental impact of human activities, as well as regulations and incentives aimed at reducing greenhouse gas emissions. Organizations, governments, and individuals are increasingly seeking solutions to manage and reduce their carbon footprint in order to mitigate the impacts of climate change.
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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)
Key Takeaways:
- Based on component, the solution segment is estimated to dominate the market, expanding at a CAGR of 5.1% during the forecast period.
- In terms of deployment, sales of cloud carbon footprint management are estimated to increase owing to its large storage capacity and faster and secure data transfer.
- By services, demand in the consulting segment is anticipated to grow at a CAGR of 5.1% through 2032.
- Sales of carbon footprint management in the U.S. are expected to increase at a CAGR of 5.3%.
- Total demand for carbon footprint management in the China market is anticipated to reach nearly US$ 3.1 Bn by the end of 2032.
Key Market Players
- Enablon
- SAP
- Dakota Software
- Isometrix
- IBM
- Schneider Electric
- Salesforce
- ENGIE
Growth Drivers:
- The market will see increased demand as more sectors use sustainable platforms to reduce carbon emissions.
- In the upcoming years, it is anticipated that growing trends toward cloud computing and paperless transactions would make it easier to implement carbon emission control systems.
Key Questions Covered in the Carbon Footprint Management Market Report
- What is the projected market value of the carbon footprint management market during 2022-2032?
- Which are the challenges faced in the carbon footprint management market?
- What is the estimated market value of the carbon footprint management market in 2022?
- Which are the factors boosting sales in the carbon footprint management market during the forecast period?
- What is the expected growth rate of the carbon footprint management market until 2032?
- Which region is expected to register the fastest growth in the global carbon footprint management market during 2022-2032?
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