Jan 23, 2024   SOURCE: BusinessWire

Global Carbon Management System Market Report 2023-2030 with Partner & Customer Ecosystem Competitive Index & Regional Footprints - ResearchAndMarkets.com

The "Global Carbon Management System Market 2030 by Offering, by 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.

A planned strategy for achieving the tactical benefits of CO2 emission reductions is known as carbon management. Organizations can achieve their goals to lower CO2 emissions and their reliance on fossil fuels by staying focused on carbon management. Energy efficiency, low-carbon fuel substitution, renewable energy certificates, life cycle analysis, and the use of new technologies like carbon capture, also known as direct air capture, are just a few of the many strategies used in carbon management that can assist businesses in reducing their reported CO2 emissions.

The measurement, planning, and management of carbon emissions are only a few of the objectives that carbon management software solutions are intended to address. The goal of these software solutions is to help companies and organizations achieve their emission goals. There are several immediate advantages for businesses and organizations using carbon management software and services. These advantages include improved operational effectiveness and the ability to differentiate operations. The hazards that climate change poses to businesses can also be reduced with the aid of carbon management software.

Businesses and organizations are also more prepared to assure regulatory compliance using carbon management software solutions. There are two types of carbon management software solutions for tracking emissions: those that track emissions from direct sources only and those that track emissions from both direct and indirect sources.

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:

  • 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 and Gas
  • Manufacturing
  • Healthcare
  • IT and Telecom
  • Others

By Region

  • North America
  • US
  • Canada
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
  • Rest of the World
  • Middle East
  • UAE
  • Saudi Arabia
  • Israel
  • Rest of the Middle East
  • Africa
  • South Africa
  • Rest of the Middle East & Africa

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/4fctyg

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