Global Carbon Footprint Management Markets 2021-2026: Growing Concerns Over Corporate Sustainability and Corporate Social Responsibility (CSR) Programs – ResearchAndMarkets.com
DUBLIN – (COMMERCIAL THREAD)–The “Global Carbon Footprint Management Market (2021-2026) by Component, Organization Size, Deployment, Vertical, Geography, Competitive Analysis and Impact of COVID-19 with Ansoff Analysis” report was added to ResearchAndMarkets.com offer.
The global carbon footprint management market is estimated to be worth USD 9.89 billion in 2021 and is expected to reach USD 14.2 billion by 2026, growing at a CAGR of 7.5%.
Key factors such as high energy consumption for industrial applications resulted in higher CO2 emission rates. This is one of the main reasons for the increase in the carbon footprint. As a result, companies are increasingly concerned with reducing carbon emissions by following mandatory regulations and achieving certain operational efficiencies.
In addition, large companies have carried out initiatives through CSR activities aimed at achieving environmental sustainability and reducing the carbon footprint. These factors are driving the growth of the carbon footprint management market.
However, factors such as the significant costs associated with replacing current infrastructure with low carbon infrastructure and the diverse regulatory environment with different guidelines are likely to hamper the growth of the Carbon Footprint Management market. .
Some of the companies covered in this report are Thinkstep, Natural Capital Partners, VelocityEHS, Aurecon Group, Carbon Solutions Global Ltd., Carbon Trust, ProcessMAP, Greenstone +, Verisae, Inc., Enviance.
Per Component, Carbon Footprint Management Services consist of consulting services, systems integration services and operational support services (pre and post-deployment). These services have the potential to reduce operating costs and improve business performance. In addition, some market players provide specialized services. With higher deployment rates among enterprises, the service segment holds a high market share.
By size of organization, large companies hold a significant market share in the market. With increasing carbon emissions, followed by increasing regulatory compliance, these companies are required to maintain and reduce carbon footprint levels. Thus, these companies invest in the use of carbon management software to run a simulation, predict emissions and reduce them accordingly. Since these initiatives are not financially feasible for SME users, large companies contribute to high segmental growth.
By deployment, cloud-based deployment has the highest market share. Many organizations are embracing cloud-based deployment because of its greater flexibility, high control over data, and cost-effectiveness. It provides enhanced security solutions, which can further help mitigate the risks associated with data loss. This has led to greater adoption of cloud-based solutions for the carbon footprint management market.
By vertical, Energy and Utilities segment holds the highest market share during the forecast period. According to the Environmental Protection Agency (EPA), electricity generation contributes about 26.9% of carbon emissions, becoming the second largest source of GHGs. Factors such as increased demand for electricity followed by increased CO2 emissions are contributing to the growth of the segment. In addition, increasing investments in the utility sector create opportunities for market growth.
By geography, North America is expected to dominate the market. The factors attributable to the growth of the market are due to the strict regulatory framework coupled with the high expenditure incurred by government and companies to reduce the carbon footprint and contribute to environmental sustainability. This has significantly contributed to the growth of the carbon footprint management market in this region.
Growing concern for reducing the carbon footprint
Strict regulations aimed at reducing carbon emissions
Growing demand for energy consumption by industries
Growing concerns about corporate sustainability and corporate social responsibility (CSR) programs among companies
High initial investment
Lack of clarity on the regulatory landscape
Increase government initiatives
Business initiatives on green building projects
Leverage technologies to reduce the carbon footprint
Growing adoption of carbon footprint management in the transport sector
Lack of willingness to adopt carbon emission software among developing and underdeveloped countries
Enablon France SA
Trinity Consultants, Inc
Dakota Software Company
Natural capital partners
Carbon Solutions Global Ltd.
Green stone +
For more information on this report, visit https://www.researchandmarkets.com/r/upvuxd