New York, USA, Nov. 15, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The global carbon accounting software market size is projected to grow from USD 16.63 billion in 2023 to USD 95.47 billion by 2032, at a CAGR of 21.4%, according to a new report by Polaris Market Research.
Carbon accounting software is a specific platform that assists businesses in tracing, computing, and handling their greenhouse gas discharge and carbon footprint, easing ecological reporting, sustainability objectives, and conformity to discharge directives. It smoothens data gathering, analysis, and detailing to encourage transparency and improve investor conviction. As climate predicament escalates and the world transforms from an elective to a controlled reporting topography, manual carbon accounting is by no means a feasible alternative.
Key Insights from the Report:
- The market for carbon accounting software helps firms estimate, trace, and handle their greenhouse gas discharge.
- The carbon accounting software market segmentation is mainly based on deployment, end-use, and region.
- Based on deployment analysis, the cloud-based segment is expected to experience the highest CAGR during the forecast period.
- By region, the report provides market insights into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
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Carbon Accounting Software Market Scope:
| Report Attributes | Details |
| Market size value in 2023 | USD 16.63 billion |
| Market size value in 2024 | USD 20.18 billion |
| Revenue Forecast in 2032 | USD 95.47 billion |
| CAGR | 21.4% from 2024 to 2032 |
| Base year | 2023 |
| Historical data | 2019-2022 |
| Forecast period | 2024-2032 |
Market’s Growth Drivers:
Technological Progressions: The amalgamation of AI and ML technologies improves the preciseness and productivity of carbon accounting by mechanizing data gathering, analysis, and reporting procedures. The usage of these technologies is anticipated to be pursued as firms look for modern instruments to confirm to growingly strict ecological directives contributing to carbon accounting software market growth.
Surge in Scope 3 Emissions: Scope 3 discharge, which circumscribes all unintended discharges that take place through an organization's value chain, frequently showcases the biggest allocation of a firm's carbon footprint.
Rise in Cloud-Based Solutions: Cloud-based platforms provide superior ease of use, flexibility, and availability contrasted to conventional on-site solutions, rendering them especially alluring to firms with varied operations covering manifold locations.
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List of Carbon Accounting Software Market Key Players:
- SAP SE
- IBM Corporation
- Microsoft Corporation
- Salesforce
- Wolters Kluwer
- ENGIE Impact
- Schneider Electric
- Accenture
- Intelex Technologies
Geographical Analysis:
North America accounted for the largest carbon accounting software market share. Strict ecological directives covering the region and robust concentration on corporate sustainability practices are driving the market in the region.
Europe is also expected to grow at the highest CAGR during the forecast period. The regional expansion is due to its strong ecological directives and allegiance to obtaining aspiring climate targets.
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Market Segmentation:
By Deployment Outlook:
- Cloud-Based
- On-Premise
By End Use Outlook:
- Energy & Utilities
- IT & Telecom
- Healthcare
- Transportation & Logistics
- Retail
- Construction & Infrastructure
- Food & Beverages
- Chemicals
- Others
By Region Outlook:
- North America (US, Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Australia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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