Carbon Footprint Management Market
Carbon Footprint Management Market Forecasts to 2030 - Global Analysis By Component (Solutions and Services), Deployment Mode (On-premises and Cloud), Organization Size, End User and By Geography
According to Stratistics MRC, the Global Carbon Footprint Management Market is accounted for $16.11 billion in 2024 and is expected to reach $48.58 billion by 2030 growing at a CAGR of 20.2% during the forecast period. Carbon Footprint Management involves measuring, reducing, and offsetting the greenhouse gas emissions associated with activities, products, or organizations. This process starts with calculating the total carbon emissions, often expressed in CO2 equivalents, generated by various operations. Strategies for reduction include improving energy efficiency, adopting renewable energy sources, and enhancing waste management practices. Offsetting involves investing in projects that reduce or capture carbon emissions, such as reforestation or renewable energy initiatives.
According to the Japan Energy Center, Southeast Asia can reserve 300 billion tons of carbon dioxide.
According to a report by NRDC, a large-scale cloud supplier has a server utilization rate of 65% compared to on-premises, which is only 15%.
Market Dynamics:
Driver:
The transition to a paperless economy and cloud computing
The utilization of cloud computing and a paperless economy is widespread throughout the world's economies. Countries like China, India, and the Middle East provide various incentives for businesses use these strategies and environmentally friendly infrastructure to stop the generation of GCG and other carbon gases. Their execution might need actions to reduce carbon emissions in factories and other businesses by deploying equipment and filtering devices. Carbon footprint management software is used to ascertain emission levels and record data through cloud or on-premises deployment prior to employing these solutions, driving total sales of the product.
Restraint:
High initial expenditures
Economic growth and the resulting rise in energy consumption have several advantages for underdeveloped and emerging nations. People in these nations are also concerned about carbon emissions, but when asked to rank problems, they place it last, behind worries about security, food, education, health, and energy and transportation. Transportation, power generation, industry (commercial and residential), agriculture, land use, and forestry are the sectors that produce carbon emissions. Companies in emerging nations with low money are unable to invest in such solutions due to the financial expenditure needed to deploy carbon footprint management solutions and work on mitigation strategies.
Opportunity:
Government efforts to implement low-carbon policies are increasing
Government programs promote carbon footprint management systems, which can assist in measuring, monitoring, and lowering emissions produced by residences and companies. Many governments and stakeholders throughout the world that are working on climate change are constantly making policies and changes to lower greenhouse gases and emission levels in the environment. More than 120 nations have set new goals for reducing emissions by 2030, and governments responsible for almost 70% of the world's CO2 emissions have vowed to achieve net-zero emissions by 2050, according to the World Energy Outlook-2021. Global initiatives have been made to reach these goals, including the Carbon Action Initiative and the Net-Zero Government Initiative.
Threat:
Comprehensive measurement, monitoring, and reporting challenges emissions in scope 3
The total amounts of indirect emissions that take place across a company's value chain are considered scope 3 emissions. In the financial services sector, scope 3 greenhouse gas (GHG) emissions play a significant role in overall emissions. A increasing corpus of studies demonstrates that the impact of a company's scope 3 emissions can be several times greater than its scope 1 and scope 2 emissions. Nearly all emissions for financial organizations come from the value chain. Demands for the disclosure of scope 3 emissions are coming from a number of businesses and investment efforts. It is also crucial to recognize that there are difficulties in calculating scope 3 emissions, even though they are increasingly recognized as a significant danger indicator.
Covid-19 Impact:
The primary COVID-19 pandemic outbreak impeded the expansion of the global carbon footprint management market due to the pandemic-related limitations that were put in place at the time, including lockdowns, social distance standards, and remote working. As a result, there was a decline in the need for carbon footprint management solutions at the time because numerous rules had been loosened. However, as economic activity returns to normal levels following the COVID-19 lockdowns, the rising concern about climate change and global warming is helping to sustain the market for carbon footprint control systems.
The energy and utilities segment is expected to be the largest during the forecast period
The energy and utilities segment is expected to have a lucrative growth. As the world seeks to transition to a low-carbon economy, energy and utility companies are under immense pressure to decarbonize their operations and shift towards renewable energy sources. These companies are investing heavily in carbon reduction technologies, such as carbon capture and storage, and exploring cleaner energy alternatives like wind, solar, and hydropower. Additionally, advancements in smart grid technologies enable better monitoring and management of energy consumption, further aiding in carbon footprint reduction efforts.
The cloud segment is expected to have the highest CAGR during the forecast period
The cloud segment is anticipated to witness the fastest CAGR growth during the forecast period. It is projected that cloud-based services would have a significant influence on the worldwide market, in a significant way because of the requirement for continuous availability and higher standards of security. Many firms have shown a preference for cloud-based solutions due to their higher scalability. The market for mobile and online application security is anticipated to have substantial development due to the rising popularity of cloud-based deployment strategies.
Region with largest share:
The North American region is experiencing significant growth in the carbon footprint management market, driven by stringent regulatory frameworks and a strong emphasis on corporate sustainability initiatives. The increasing awareness of climate change and its impacts has led businesses to adopt advanced carbon management solutions to meet regulatory requirements and achieve carbon neutrality. Technological advancements and the proliferation of green technologies are also contributing to this growth. Furthermore, the presence of key market players and the rising demand for energy-efficient systems and services are fostering market expansion. Public and private sector investments in carbon footprint management solutions are anticipated to sustain this upward trend.
Region with highest CAGR:
The Asia-Pacific region is experiencing significant growth in the carbon footprint management market. This expansion is driven by increased environmental awareness, stringent government regulations, and the region's rapid industrialization. Countries such as China, India, and Japan are leading this growth due to their high carbon emissions and commitment to reducing their environmental impact. The adoption of advanced technologies and sustainable practices by businesses further propels market development. Additionally, international agreements and global pressure for climate action are pushing corporations to invest in carbon footprint management solutions, boosting the market in this region.
Key players in the market
Some of the key players in Carbon Footprint Management market include Carbon Footprint Ltd, Dakota Software Corporation, Ecova, Enablon, Engie, Envirosoft Corporation, Firstcarbon Solutions, IBM Corporation, Intelex Technologies ULC, IsoMetrix Software, Laragon Sustainability Solutions, Locus Technologies, NativeEnergy, Ideagen, Schneider Electric, Verisae and Wolters Kluwer N.V.
Key Developments:
In May 2024, During the annual IBM Think conference, IBM announced it is working with Amazon Web Services (AWS) to make the full portfolio of IBM offerings within the watsonx artificial intelligence (AI) and data platform available for use with AWS services. The companies plan to integrate IBM watsonx.governance and Amazon SageMaker, a service to build, train, and deploy machine learning (ML) and generative AI models with fully managed infrastructure, tools, and workflows, to help Amazon SageMaker and watsonx customers manage model risk and support compliance obligations in connection with recent regulatory requirements such as the EU AI Act.
In April 2024, Engie plans to invest Rs 7,000 crore by 2025 to add an additional solar capacity of 2 GW in India. Engie currently has an operational portfolio of about 1.1 GW of renewable assets, with an additional 1.25 GW capacity secured over the past 18 months through utility-scale renewable tenders. By the end of 2025, Engie's operational capacity would reach close to 2.3 GW, with with a target to reach a capacity of 5.5-6GW by 2030.
Components Covered:
• Solutions
• Services
Deployment Modes Covered:
• On-premises
• Cloud
Organization Sizes Covered:
• Small Businesses
• Corporates/Enterprises
• Mid-Tier Enterprises
End Users Covered:
• Residential and Commercial Buildings
• IT and Telecom
• Government
• Financial Services
• Transportation and Logistics
• Energy and Utilities
• Manufacturing
• Chemical & Materials
• Automotive
• Food & Beverages
• Metals & Mining
• Electronics & Consumer Goods
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Carbon Footprint Management Market, By Component
5.1 Introduction
5.2 Solutions
5.3 Services
5.3.1 Integration & Deployment
5.3.2 Support & Maintenance
5.3.3 Consulting
6 Global Carbon Footprint Management Market, By Deployment Mode
6.1 Introduction
6.2 On-premises
6.3 Cloud
7 Global Carbon Footprint Management Market, By Organization Size
7.1 Introduction
7.2 Small Businesses
7.3 Corporates/Enterprises
7.4 Mid-Tier Enterprises
8 Global Carbon Footprint Management Market, By End User
8.1 Introduction
8.2 Residential and Commercial Buildings
8.3 IT and Telecom
8.4 Government
8.5 Financial Services
8.6 Transportation and Logistics
8.7 Energy and Utilities
8.8 Manufacturing
8.9 Chemical & Materials
8.10 Automotive
8.11 Food & Beverages
8.12 Metals & Mining
8.13 Electronics & Consumer Goods
8.14 Other End Users
9 Global Carbon Footprint Management Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Carbon Footprint Ltd
11.2 Dakota Software Corporation
11.3 Ecova
11.4 Enablon
11.5 Engie
11.6 Envirosoft Corporation
11.7 Firstcarbon Solutions
11.8 IBM Corporation
11.9 Intelex Technologies ULC
11.10 IsoMetrix Software
11.11 Laragon Sustainability Solutions
11.12 Locus Technologies
11.13 NativeEnergy
11.14 Ideagen
11.15 Schneider Electric
11.16 Verisae
11.17 Wolters Kluwer N.V.
List of Tables
1 Global Carbon Footprint Management Market Outlook, By Region (2022-2030) ($MN)
2 Global Carbon Footprint Management Market Outlook, By Component (2022-2030) ($MN)
3 Global Carbon Footprint Management Market Outlook, By Solutions (2022-2030) ($MN)
4 Global Carbon Footprint Management Market Outlook, By Services (2022-2030) ($MN)
5 Global Carbon Footprint Management Market Outlook, By Integration & Deployment (2022-2030) ($MN)
6 Global Carbon Footprint Management Market Outlook, By Support & Maintenance (2022-2030) ($MN)
7 Global Carbon Footprint Management Market Outlook, By Consulting (2022-2030) ($MN)
8 Global Carbon Footprint Management Market Outlook, By Deployment Mode (2022-2030) ($MN)
9 Global Carbon Footprint Management Market Outlook, By On-premises (2022-2030) ($MN)
10 Global Carbon Footprint Management Market Outlook, By Cloud (2022-2030) ($MN)
11 Global Carbon Footprint Management Market Outlook, By Organization Size (2022-2030) ($MN)
12 Global Carbon Footprint Management Market Outlook, By Small Businesses (2022-2030) ($MN)
13 Global Carbon Footprint Management Market Outlook, By Corporates/Enterprises (2022-2030) ($MN)
14 Global Carbon Footprint Management Market Outlook, By Mid-Tier Enterprises (2022-2030) ($MN)
15 Global Carbon Footprint Management Market Outlook, By End User (2022-2030) ($MN)
16 Global Carbon Footprint Management Market Outlook, By Residential and Commercial Buildings (2022-2030) ($MN)
17 Global Carbon Footprint Management Market Outlook, By IT and Telecom (2022-2030) ($MN)
18 Global Carbon Footprint Management Market Outlook, By Government (2022-2030) ($MN)
19 Global Carbon Footprint Management Market Outlook, By Financial Services (2022-2030) ($MN)
20 Global Carbon Footprint Management Market Outlook, By Transportation and Logistics (2022-2030) ($MN)
21 Global Carbon Footprint Management Market Outlook, By Energy and Utilities (2022-2030) ($MN)
22 Global Carbon Footprint Management Market Outlook, By Manufacturing (2022-2030) ($MN)
23 Global Carbon Footprint Management Market Outlook, By Chemical & Materials (2022-2030) ($MN)
24 Global Carbon Footprint Management Market Outlook, By Automotive (2022-2030) ($MN)
25 Global Carbon Footprint Management Market Outlook, By Food & Beverages (2022-2030) ($MN)
26 Global Carbon Footprint Management Market Outlook, By Metals & Mining (2022-2030) ($MN)
27 Global Carbon Footprint Management Market Outlook, By Electronics & Consumer Goods (2022-2030) ($MN)
28 Global Carbon Footprint Management Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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