Pune, India, March 06, 2023 (GLOBE NEWSWIRE) -- The global carbon accounting software market size stood at USD 12.73 billion in 2022. The market is expected to expand from USD 15.31 billion in 2023 to USD 64.39 billion by 2030, exhibiting a CAGR of 22.8% over the forecast period. The rise can be attributed to the growing development of innovative solutions by key industry players. Fortune Business Insights™ provides this information in its research report, titled “Carbon Accounting Software Market Forecast, 2023-2030”.
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Key Industry Development:
October 2022 – Persefoni announced the upgrade of CMAP 2.0 (Persefoni’s Climate Management & Accounting Platform). The platform includes the decarbonization process from planning to data upload and the tracking of footprint reduction.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 22.8% |
| 2030 Value Projection | USD 64.39 Billion |
| Base Year | 2022 |
| Carbon Accounting Software Market Size in 2022 | USD 12.73 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 140 |
| Segments covered | Deployment, Industry and Geography |
Key Takeaways
- Major driving factors include deployment of technologies such as blockchain and digital twin
- By Deployment, cloud segment holds the maximum market share
- Global demand is driven by increasing awareness of carbon footprint and technological advancements
- The energy & utilities segment will drive the market in the forecast period, 2023-2030
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Drivers and Restraints:
Market Value to Surge Driven by Increasing Government Initiatives Toward Net-zero Emissions
One of the key factors boosting the carbon accounting software market growth comprise an increase in initiatives for the reduction of carbon emissions. Besides, several organizations are centered on global warming by making guidelines and policies for the reduction of greenhouse gases and levels of environmental emission.
However, the market expansion could be hampered by the rising greenwashing practices that could harm the contributions toward net-zero emissions.
Segments:
Cloud-based Segment to Gain Traction Owing to Surging Product Adoption
By deployment, the market for carbon accounting software is fragmented into cloud-based and on-premise. The cloud-based segment is estimated to surge at an appreciable pace throughout the projected period. The rise can be credited to the soaring implementation of online banking and the growing usage of mobile payment apps.
Energy & Utilities Segment to Depict Substantial Demand Owing to Expansion of Economic Activities
Based on industry, the market is categorized into energy & utilities, construction & infrastructure, IT & telecom, retail, healthcare, food & beverages, transportation & logistics, chemicals, and others. The energy & utilities segment is projected to record substantial expansion over the estimated period. The surge can be attributed to the increasing demand for fossil fuels and natural gas.
On the basis of country, the market for carbon accounting software is studied across China, India, the U.S., Russia, and the rest of the world.
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Country Insights:
China to Emerge Prominent Impelled by the Growth of Pharmaceutical, Electronics, and Semiconductor Industries
The China carbon accounting software market share is expected to register commendable expansion throughout the estimated period. The rise can be attributed to the expansion of the electronics, semiconductor, and pharmaceutical industries in the country.
The U.S. is the second-largest dominating country in terms of market value. This is on account of escalated investments in the areas of development, research, and demonstration in the country.
Competitive Landscape:
Industry Players Roll out New Products to Strengthen Market Footing
Leading companies enter into partnership agreements, collaborations, and others for the consolidation of industry position. Some of the other steps include mergers, acquisitions, and the rollout of new products. Besides, key companies are focusing on research activities and increasing participation in trade conferences.
List of Key Players Mentioned in the Report:
- Persefoni AI (U.S.)
- IBM Environmental Intelligence Suite (U.S.)
- Sphera (Germany)
- Emitwise (U.K.)
- Sinai Technologies (U.S.)
- Net Zero Cloud by Salesforce (U.S.)
- Greenly (France)
- Net0 (U.S.)
- Sweep (France)
- Diligent Corporation (U.S.)
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Major Table of Contents:
- Global Carbon Accounting Software Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Deployment (USD)
- Cloud-based
- On-Premise
- By Industry (USD)
- Energy & Utilities
- IT & Telecom
- Healthcare
- Transportation & Logistics
- Retail
- Construction & Infrastructure
- Food & Beverages
- Chemicals
- Others (Metals & Mining, Government, etc.)
- By Country (USD)
- China
- United States
- India
- Russia
- China Carbon Accounting Software Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Deployment (USD)
- Cloud-based
- On-Premise
- By Industry (USD)
- Energy & Utilities
- IT & Telecom
- Healthcare
- Transportation & Logistics
- Retail
- Construction & Infrastructure
- Food & Beverages
- Chemicals
- Others (Metals & Mining, Government, etc.)
- United States Carbon Accounting Software Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Deployment (USD)
- Cloud-based
- On-Premise
- By Industry (USD)
- Energy & Utilities
- IT & Telecom
- Healthcare
- Transportation & Logistics
- Retail
- Construction & Infrastructure
- Food & Beverages
- Chemicals
- Others (Metals & Mining, Government, etc.)
TOC Continued…!
FAQs
How big is the carbon accounting software market?
The global carbon accounting software market size was USD 13.73 billion in 2022. It is expected to reach USD 64.39 billion by 2030.
How fast is the carbon accounting software market growing?
The carbon accounting software market will exhibit a CAGR of 22.8% during the forecast period, 2023-2030
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