The global carbon footprint management market size is expected to reach USD 15.7 billion by 2030, according to a new study by Polaris market research. The report “Carbon Footprint Management Market Share, Size, Trends, Industry Analysis Report, By Type, By Deployment (Cloud, On-Premises); By Vertical; By Region; Segment Forecast, 2022 -2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market is growing due to rising energy demand from different industries, green construction projects, increased implementation of a standardized regulatory framework, increased government efforts to promote low carbon emission regulations, & rising public concerns about corporate sustainability. For instance, according to the 2022 report, Schneider Electric and Johnson & Johnson’s local team collaborate closely to reduce energy consumption at their French manufacturing facility while simultaneously enhancing operational effectiveness and shortening lead times.
Governmental actions will promote the management of carbon footprints. To lower greenhouse gases & emissions in the environment, numerous governments, and stakeholders from across the world that are concerned about climate change are enacting regulations and implementing changes. For instance, in May 2021, Germany set new goals to become carbon neutral, by 2045.
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The COVID-19 pandemic-related decreases in travel and economic activity, particularly a 13% decrease in transportation emissions caused by decreased travel as a result of the pandemic, are said to be mostly to blame for the steep dip in emissions, which were primarily from CO2 emissions from fossil fuel combustion. Increased energy consumption rates and strain on the world’s electricity infrastructure are results of the expansion of the global economy.
Carbon Footprint Management Market Report Highlights
- Services are predicted to rule the market in 2021. Integration and implementation, support and maintenance, and consultation are the main factors influencing the growth of this market. Due to their viability and low operating expenses, businesses usually prefer them.
- The cloud-based market category held the biggest market share in 2021. Due to considerations like low capital expenditures on local hardware, simple scalability, connection, security, and safety, the necessity for cloud deployment is increasing.
- Energy and utility category held the bulk of the market, in 2021, because of the demand for heating and cooling and the industry’s robust economy. The utilization of carbon footprint management is a response to the growth of carbon footprints brought on by the increased use of energy and production of electricity.
- North America will rule the market, in 2021, as a consequence of the region’s developing industrial energy consumption, increasing government support for low-carbon emission legislation, increasing firm commitment to green building projects, increasing acceptance of a standard regulatory framework, and increasing corporate commitment to green building initiatives.
- The global players with a global presence include Carbon Footprint, Dakota Software, ENGIE, IsoMetrix, IBM Corporation, ProcessMAP, and Schneider Electric.
Polaris Market Research has segmented the carbon footprint management market report based on type, deployment, vertical, and region:
Carbon Footprint Management, Type Outlook (Revenue – USD Billion, 2018 – 2030)
Carbon Footprint Management, Deployment Outlook (Revenue – USD Billion, 2018 – 2030)
Carbon Footprint Management, Vertical Outlook (Revenue – USD Billion, 2018 – 2030)
- Energy and Utilities
- Residential and Commercial Buildings
- Transportation and Logistics
- IT and Telecom
Carbon Footprint Management, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa