Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Global Carbon Management System Market 2030 by Offering, Application, End-user Verticals & Region - Partner & Customer Ecosystem Competitive Index & Regional Footprints" report has been added to ResearchAndMarkets.com's offering.
The Carbon Management System Market size is estimated to grow from USD 18.2 billion in 2023 at a CAGR of 13.1% during the forecast period from 2023 to 2030.
Major players in the Carbon Management System Market include: Simble Solutions Ltd, IBM Corporation, ENGIE Impact, GreenStep Solutions Inc., SAP SE, Enablon SA, IsoMetrix, Electric SE, Salesforce.com Inc., Greenstone+ Ltd, Microsoft Corporation, and Others.
Growing Carbon Footprint
The world's carbon footprint has been growing at an alarming rate in recent years. In 2020, it was estimated to be 49.4 gigatons of carbon dioxide equivalent (GtCO2e), up from 48.9 GtCO2e in 2019. This increase is due to several factors, including the growing global population, the increasing use of fossil fuels, and deforestation.
Carbon management software is helping businesses to track their emissions from a variety of sources, including energy use, transportation, waste disposal, and employee commuting. This information can be used to identify areas where emissions can be reduced. Carbon management software is also allowing businesses to identify opportunities for emission reduction, such as switching to renewable energy sources, improving energy efficiency, or reducing waste. This information can be used to develop and implement cost-effective emission reduction projects.
Government Regulations
Government regulations are driving increased demand for carbon management software. As governments around the world implement regulations that require businesses to report their carbon emissions, businesses are looking for ways to comply with these regulations. Carbon management software can help businesses to measure, track, and report their emissions, making it easier for them to comply with government regulations.
The increased demand for carbon management software is leading to increased investment in the development and deployment of this software. This investment is helping to improve the quality and capabilities of carbon management software, making it a more effective tool for businesses that are looking to reduce their carbon footprint.
Dominating Region and Country
In 2022, China held the largest market share. China is one of the notable hubs for semiconductor, electronics, and pharmaceutical industries, and is expanding, which has led to an increase in greenhouse gas emissions. China produces one-third of the world's greenhouse gases and 27% of the world's carbon dioxide. To improve energy efficiency and resource productivity during this transition, a significant shift in resources, creativity, and new technologies will be needed.
The U.S is following the trend after China owing to a significantly growing carbon footprint. Nearly 4.24 trillion kilowatt-hours (kWh) of electricity were produced at utility-scale electrical producing facilities in the US in 2022, which is 4,243 billion kWh.1 This power was generated using fossil fuels, such as coal, natural gas, petroleum, and other gases, to the tune of about 60%. Nuclear energy accounted for around 18% of the total, while renewable energy sources made up about 22%.
Upcoming Countries with High Growth Potential
India has been experiencing rapid economic growth and industrialization, leading to increased carbon emissions. The Indian government and various organizations have shown interest in adopting carbon management software to monitor and reduce their carbon footprints.
Mexico has been actively addressing climate change issues and implementing environmental policies. As a result, there has been an increasing demand for carbon management software among Mexican companies.
Major Classifications are as follows:
By Offering
- Software
- Footprint Management
- Carbon Accounting Software
- Others
- Service
By Application
- Energy
- Greenhouse Gas Management
- Air Quality Management
- Sustainability
- Others
By End-user Verticals
- Oil & Gas
- Manufacturing
- Healthcare
- IT & Telecom
- Others
Companies Mentioned
- Simble Solutions Ltd.
- IBM Corporation
- ENGIE Impact
- GreenStep Solutions Inc.
- SAP SE
- Enablon SA
- IsoMetrix
- Electric SE
- Salesforce.com Inc.
- Greenstone+ Ltd.
- Microsoft Corporation
- Sphera
- Sinai Technologies
- Greenly
- Diligent Corporation
For more information about this report visit https://www.researchandmarkets.com/r/j6dnh6
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