Carbon Footprint Management Market
PUBLISHED: 2023 ID: SMRC23692
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Carbon Footprint Management Market

Carbon Footprint Management Market Forecasts to 2030 - Global Analysis By Component (Solutions and Services), Deployment mode (Cloud and On-premises), Organization size (Corporates/Enterprises, Mid-Tier Enterprises and Small Businesses), End User and By Geography

4.3 (60 reviews)
4.3 (60 reviews)
Published: 2023 ID: SMRC23692

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $13.4 BN

Projected Year Value (2030)

US $48.7 BN

CAGR (2023 - 2030)

20.2%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia-Pacific


According to Stratistics MRC, the Global Carbon Footprint Management Market is accounted for $13.4 billion in 2023 and is expected to reach $48.7 billion by 2030 growing at a CAGR of 20.2% during the forecast period. A carbon footprint is the total amount of greenhouse gases (GHG) that a certain activity, person, or manufactured item releases into the atmosphere. When fossil fuels are used to create power, heat buildings, destroy forests, generate products, or move people and things, carbon dioxide is created, which is the most common greenhouse gas (GHG) emission.

According to Benjamin 2021, buildings in the United States account for 40% of carbon emissions and utilize 75% of grid electricity.



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. Although cloud deployment offers numerous benefits, it does not offer the same level of customization as an on-premises installation.

Region with largest share:

During the forecast period, it is expected that the North American Carbon Footprint Management market will continue to hold a majority of the market share. The market for carbon footprint management in North America is anticipated to grow as a result of the region's various laws and the United States government's significant efforts to minimize GHG emissions. For instance, it has published the Affordable Clean Energy (ACE) Rule, which limits the emissions of greenhouse gases (GHG) from fossil fuel-fired power facilities that are currently in operation. The EPA's yearly net gain from this regulation, after expenses, domestic climate benefits, and health benefits, is predicted to range from USD 120 million to USD 730 million. As a result of these restrictions, there will likely be a rise in demand for carbon footprint management in the future.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period. Stakeholders view the Asia-Pacific area as a potentially profitable opportunity as a result of its growing development and urbanization. The biggest scheme of its type, China's carbon trading program, was officially launched in July. It's significant to note that China is the nation with the highest carbon dioxide production rates. Rising concerns about regional CO2 emissions are expected to fuel the growth of the market for carbon footprint management. As part of the Paris Agreement, Indian officials have set a goal to reduce carbon emissions by more than 30% by 2030.



Key players in the market

Some of the key players in Carbon Footprint Management market include Firstcarbon Solutions, Enablon, IBM Corporation, IsoMetrix Software, Dakota Software Corporation, Schneider Electric, ProcessMAP, Ecova, Envirosoft Corporation, Intelex Technologies ULC, Carbon Footprint Ltd, Laragon Sustainability Solutions, Engie, Verisae, Locus Technologies, NativeEnergy and Wolters Kluwer N.V.

Key Developments:

In February 2023, Enablon and Makersite announced strategic collaboration to help enterprises reach ESG goals. The two industry leaders will help organizations manage Net Zero ambitions through decarbonizing supply chains.

In September 2022, Enviance acquired an ESG performance software platform and consultancy, Reporting 21. The Reporting 21 solution will be incorporated into Enviance/Cority’s Sustainability Cloud to better support customers in managing, reporting, and actioning their sustainability and ESG initiatives.

In July 2022, Trinity Consultants acquired an aquatic environmental consulting firm, Ecofish Research. This acquisition brings Trinity’s water ecology and aquatic sciences consulting service teams to approximately 250 professionals, with the ability to deliver a wide range of water ecology-related services.

Components Covered:
• Solutions
• Services

Deployment modes Covered:
• Cloud
• On-premises

Organization sizes Covered:
• Corporates/Enterprises
• Mid-Tier Enterprises
• Small Businesses

End Users Covered:
• Manufacturing
• Energy and Utilities
• Residential and Commercial Buildings
• Transportation and Logistics
• IT and Telecom
• Financial Services
• Government
• 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 2021, 2022, 2023, 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 Consulting
5.3.2 Integration & Deployment
5.3.3 Support & Maintenance

6 Global Carbon Footprint Management Market, By Deployment mode
6.1 Introduction
6.2 Cloud
6.3 On-premises

7 Global Carbon Footprint Management Market, By Organization size
7.1 Introduction
7.2 Corporates/Enterprises
7.3 Mid-Tier Enterprises
7.4 Small Businesses

8 Global Carbon Footprint Management Market, By End User
8.1 Introduction
8.2 Manufacturing
8.2.1 Food & Beverages
8.2.2 Metals & Mining
8.2.3 Chemical & Materials
8.2.4 Electronics & Consumer Goods
8.2.5 Automotive
8.2.6 Pharmaceutical & Healthcare
8.3 Energy and Utilities
8.4 Residential and Commercial Buildings
8.5 Transportation and Logistics
8.6 IT and Telecom
8.7 Financial Services
8.8 Government
8.9 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 Firstcarbon Solutions
11.2 Enablon
11.3 IBM Corporation
11.4 IsoMetrix Software
11.5 Dakota Software Corporation
11.6 Schneider Electric
11.7 ProcessMAP
11.8 Ecova
11.9 Envirosoft Corporation
11.10 Intelex Technologies ULC
11.11 Carbon Footprint Ltd
11.12 Laragon Sustainability Solutions
11.13 Engie
11.14 Verisae
11.15 Locus Technologies
11.16 NativeEnergy
11.17 Wolters Kluwer N.V.

List of Tables
1 Global Carbon Footprint Management Market Outlook, By Region (2021-2030) ($MN)
2 Global Carbon Footprint Management Market Outlook, By Component (2021-2030) ($MN)
3 Global Carbon Footprint Management Market Outlook, By Solutions (2021-2030) ($MN)
4 Global Carbon Footprint Management Market Outlook, By Services (2021-2030) ($MN)
5 Global Carbon Footprint Management Market Outlook, By Consulting (2021-2030) ($MN)
6 Global Carbon Footprint Management Market Outlook, By Integration & Deployment (2021-2030) ($MN)
7 Global Carbon Footprint Management Market Outlook, By Support & Maintenance (2021-2030) ($MN)
8 Global Carbon Footprint Management Market Outlook, By Deployment mode (2021-2030) ($MN)
9 Global Carbon Footprint Management Market Outlook, By Cloud (2021-2030) ($MN)
10 Global Carbon Footprint Management Market Outlook, By On-premises (2021-2030) ($MN)
11 Global Carbon Footprint Management Market Outlook, By Organization size (2021-2030) ($MN)
12 Global Carbon Footprint Management Market Outlook, By Corporates/Enterprises (2021-2030) ($MN)
13 Global Carbon Footprint Management Market Outlook, By Mid-Tier Enterprises (2021-2030) ($MN)
14 Global Carbon Footprint Management Market Outlook, By Small Businesses (2021-2030) ($MN)
15 Global Carbon Footprint Management Market Outlook, By End User (2021-2030) ($MN)
16 Global Carbon Footprint Management Market Outlook, By Manufacturing (2021-2030) ($MN)
17 Global Carbon Footprint Management Market Outlook, By Food & Beverages (2021-2030) ($MN)
18 Global Carbon Footprint Management Market Outlook, By Metals & Mining (2021-2030) ($MN)
19 Global Carbon Footprint Management Market Outlook, By Chemical & Materials (2021-2030) ($MN)
20 Global Carbon Footprint Management Market Outlook, By Electronics & Consumer Goods (2021-2030) ($MN)
21 Global Carbon Footprint Management Market Outlook, By Automotive (2021-2030) ($MN)
22 Global Carbon Footprint Management Market Outlook, By Pharmaceutical & Healthcare (2021-2030) ($MN)
23 Global Carbon Footprint Management Market Outlook, By Energy and Utilities (2021-2030) ($MN)
24 Global Carbon Footprint Management Market Outlook, By Residential and Commercial Buildings (2021-2030) ($MN)
25 Global Carbon Footprint Management Market Outlook, By Transportation and Logistics (2021-2030) ($MN)
26 Global Carbon Footprint Management Market Outlook, By IT and Telecom (2021-2030) ($MN)
27 Global Carbon Footprint Management Market Outlook, By Financial Services (2021-2030) ($MN)
28 Global Carbon Footprint Management Market Outlook, By Government (2021-2030) ($MN)
29 Global Carbon Footprint Management Market Outlook, By Other End Users (2021-2030) ($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


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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