North America to Dominate Carbon Footprint Management Market through 2025
Increasing awareness regarding
greenhouse gases emissions and climate change to drive the growth of global carbon
footprint management market
According to
TechSci Research report, “Global Carbon
Footprint Management Market By Component (Solution v/s Service), By
Deployment Mode (On-Premise v/s Cloud), By Type (Product Carbon Footprint v/s
Corporate Carbon Footprint), By End User Industry (IT& Telecom, Energy
& Utilities, Manufacturing, Transportation, Building & Construction,
Others), By Region, Forecast & Opportunities, 2025”, the global carbon footprint management market is expected
to grow at a steady rate during the forecast period on account of the stringent
policies and supportive initiatives by different governments around the globe
to reduce carbon emissions during forecast period. Additionally, increasing
adoption of carbon footprint management software across various end user
industries such as manufacturing, energy & utilities, transportation, among
others, due to the need for adhering to carbon emission compliance is expected
to positively influence the market growth through 2025. Furthermore, increasing
awareness among the corporates to reduce carbon emissions with operational
efficiencies is expected to spur the market over the next few years. Also,
increasing implementation of data analytics for improving decision making
process is further fueling the market growth across the globe. Besides, growing
popularity of green buildings is further expected bolster market growth until
2025. However, high initial investments and high cost of replacement of
existing infrastructure with greener solutions might hamper the market across
the globe. Moreover, lack of clarity about regulatory landscape is further
anticipated to restrict the market growth. Besides, lack of willingness to
adopt green solutions especially in the developing economies is further anticipated
to impede the market growth through 2025. Also, lack of solutions to address
the problem effectively might negatively impact market growth.
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The global
carbon footprint management market is segmented based on component, deployment
mode, type, end user industry, company and region. Based on component, the
market can be bifurcated into solution and service. The solution segment is
expected to dominate the market since they can forecast an organization’s
carbon emission and analyze the footprint management solutions. Additionally,
they help users to forecast future emissions and impact of these emissions on
organizations growth, thereby increasing the performance and improving decision
making through greenhouse gases emission baseline stimulation. The services
segment is expected to witness significant growth in the market since they help
lower operational cost and increase revenue and improve business productivity. Based
on deployment mode, the market can be divided into on-premise and cloud. The
cloud segment is expected to dominate the market over next few years. This can
be attributed to various benefits associated with the cloud platform such as
increased scalability, speed, enhanced IT security, 24/7 availability, enhanced
data control, reduced operational risks, among others. Based on end user industry,
the market can be fragmented into IT & telecom, energy & utilities,
manufacturing, transportation, building & construction and others. The
energy & utilities segment is expected to dominate the market during the
next five years. This can be ascribed to the increasing adoption of carbon
footprint management solutions in this industry on account of the evolving
laws, regulations and standards. Additionally, rising energy demand has
increased the global carbon emission, thereby increasing the adoption of carbon
footprint management solutions in this segment. The manufacturing segment is
also expected to grow during the next five years owing to the increase in the
implementation of policies and regulatory framework in the industry.
Enablon,
SAP SE, Dakota Software, ProcessMAP, IsoMetrix, IBM Corporation, Schneider
Electric Company, Salesforce Inc., ENGIE, Thinkstep, Natural Capital Partners,
VelocityEHS, Aurecon Group, Carbon Solutions Global Ltd., Carbon Trust,
Greenstone+, Verisae, Inc., Enviance, IHS Markit Ltd., Ecova, Inc. and others are
some of the leading players operating in global carbon footprint management market.
The companies operating in the market are using organic strategies such as
product launches, mergers and collaborations to boost their share. For
instance, in November 2019, ENGIE partnered with Accenture, Salesforce and
Vlocity for providing low-carbon energy and services to help ENGIE’s customers
around the world achieve a zero carbon future.
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“North America is expected to dominate
the global carbon footprint management market during the forecast period, owing
to the increasing carbon emissions and climate change in the region.
Additionally, increasing expenditure on the development and adoption of carbon
management software in the region is further anticipated to spur the market
during the next five years. Furthermore, pre-established and strict regulatory
framework to monitor carbon emissions are anticipated to bolster the market
growth over the next few years. Also, key vendors operating in the market are
expanding their business in the region, thereby creating lucrative
opportunities for the growth of market.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Carbon Footprint
Management Market By Component (Solution v/s Service), By Deployment Mode
(On-Premise v/s Cloud), By Type (Product Carbon Footprint v/s Corporate Carbon
Footprint), By End User Industry (IT& Telecom, Energy & Utilities,
Manufacturing, Transportation, Building & Construction, Others), By Region,
Forecast & Opportunities, 2025”, has evaluated
the future growth potential of global carbon footprint management market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global carbon footprint management market.
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