Esg Reporting Software Market
ESG Reporting Software Market Forecasts to 2030 - Global Analysis By Component (Software and Services), Deployment Mode (On-Premises and Cloud-Based), Organization Size, End User and By Geography
According to Stratistics MRC, the Global ESG Reporting Software Market is accounted for $0.91 billion in 2024 and is expected to reach $2.50 billion by 2030 growing at a CAGR of 18.4% during the forecast period. ESG Reporting Software is a digital tool designed to help organizations track, measure, and report on their Environmental, Social, and Governance (ESG) performance. It streamlines data collection, analysis, and reporting processes to ensure compliance with regulatory standards and sustainability frameworks, such as GRI, SASB, and TCFD. By providing insights into ESG metrics, the software enables businesses to monitor progress, identify risks, and improve decision-making.
According to the Global Reporting Initiative (GRI), over 8,400 companies across 120 states and regions use the Carbon Disclosure Project (CDP) framework for environmental reporting.
Market Dynamics:
Driver:
Rising consumer demand for sustainability
The growing consumer focus on sustainability has significantly driven the adoption of ESG reporting software. Businesses are increasingly expected to demonstrate their commitment to environmental, social, and governance (ESG) principles to attract eco-conscious consumers. ESG reporting software enables companies to track and disclose their sustainability initiatives, improving transparency and fostering trust. This rising demand aligns with global shifts toward responsible consumption and sustainable business practices, making ESG reporting an essential component of corporate strategies.
Restraint:
Complexity of ESG data collection
The complexity of collecting, aggregating, and standardizing ESG data across diverse sources poses a significant restraint for the market. Companies often face challenges in integrating ESG metrics into existing systems due to varying data formats and inconsistent reporting standards. This can lead to inefficiencies, higher operational costs, and delays in generating accurate reports.
Opportunity:
Growth in non-financial reporting
The increasing emphasis on non-financial reporting presents a lucrative opportunity for the ESG reporting software market. With investors and stakeholders demanding insights beyond financial performance, companies are adopting tools to measure their environmental and social impacts. ESG reporting software facilitates comprehensive non-financial disclosures, enabling organizations to align with global sustainability standards while enhancing their reputations. This trend is expected to drive innovation and the development of advanced solutions tailored to meet evolving stakeholder expectations.
Threat:
Changing regulatory landscape
The rapidly evolving regulatory environment surrounding ESG disclosures poses a significant threat to the market. Frequent updates to regulations require companies to continuously adapt their reporting processes, increasing compliance costs and operational complexities. Additionally, inconsistent regulations across regions can create challenges for multinational corporations.
Covid-19 Impact:
The COVID-19 pandemic accelerated the adoption of ESG reporting software as businesses prioritized sustainability amidst global disruptions. The crisis highlighted the importance of managing environmental and social risks, prompting organizations to enhance transparency through robust ESG disclosures. Additionally, remote work environments increased reliance on digital tools for data collection and analysis, further driving demand for cloud-based ESG software solutions during this period.
The software segment is expected to be the largest during the forecast period
During the forecast period, the software segment is expected to dominate the market due to its ability to automate complex ESG data collection and reporting processes. These solutions provide advanced analytics, real-time monitoring, and customizable dashboards that enable organizations to track their sustainability performance efficiently. The rising demand for scalable and user-friendly tools across industries underscores the segment's significant contribution to market growth.
The energy & utilities segment is expected to have the highest CAGR during the forecast period
During the forecast period, the energy & utilities segment is expected to grow at the highest CAGR as companies in this sector face mounting pressure to reduce carbon emissions and adopt sustainable practices. ESG reporting software helps these organizations monitor environmental metrics such as energy consumption and emissions while ensuring compliance with stringent regulations. This growing need for transparency and accountability drives rapid adoption within the sector.
Region with largest share:
Over the forecast period, the North America region is anticipated to account for the largest share of the ESG reporting software market due to its mature regulatory framework and strong investor focus on sustainability. The U.S., in particular, leads adoption rates as corporations comply with SEC mandates for enhanced ESG disclosures. The region’s advanced technological infrastructure further supports widespread implementation of sophisticated reporting tools across various industries.
Region with highest CAGR:
Over the forecast period, the Asia Pacific region is anticipated to register the highest growth rate due to increasing awareness of sustainability issues and supportive government initiatives promoting sustainable development. Countries like China and India are driving demand through regulatory incentives and growing investor interest in responsible business practices. The region’s rapid industrialization coupled with a shift toward greener operations makes it a key growth area for ESG software providers.
Key players in the market
Some of the key players in ESG Reporting Software Market include Workiva, Persefoni AI, Novata, Greenly, Watershed, SustainIQ, Benchmark Gensuite, Microsoft Corporation, IBM Corporation, Normative AB, APLANET Solutions, Cority Software Inc., Coolset Inc., Sweep, Sustainalytics, EcoVadis, Enablon and Dcycle.
Key Developments:
In October 2024, Benchmark Gensuite has launched Responsio, an AI-driven platform that manages every stage of disclosure request handling for ESG and EHS data, enhancing efficiency and accuracy in response to increasing regulatory demands.
In June 2024, Workiva has been named a leader in the Verdantix Green Quadrant for ESG Reporting and Data Management Software, and Deloitte has launched new ESG accelerators for the Workiva platform to enhance ESG reporting efficiency and accuracy.
In March 2024, greenly announced that it has raised $52 million in a Series B funding round to enhance its suite of solutions enabling companies to measure and manage their carbon emissions, amidst growing demand for carbon accounting solutions due to new regulations.
In March 2024, Persefoni AI has launched Persefoni Pro; a free tool aimed at enabling businesses to measure and discloses their greenhouse gas emissions, enhancing climate data accuracy and accessibility.
Components Covered:
• Software
• Services
Deployment Modes Covered:
• On-Premises
• Cloud-Based
Organization Sizes Covered:
• Large Enterprises
• Small and Medium-sized Enterprises (SMEs)
End Users Covered:
• Banking, Financial Services, and Insurance (BFSI)
• Government
• Manufacturing
• Food & Beverages
• Retail & Consumer Goods
• Energy & Utilities
• 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 ESG Reporting Software Market, By Component
5.1 Introduction
5.2 Software
5.2.1 Environmental ESG Reporting Software
5.2.2 Social ESG Reporting Software
5.2.3 Governance ESG Reporting Software
5.3 Services
5.3.1 Consulting Services
5.3.2 Integration & Deployment Services
5.3.3 Support & Maintenance Services
6 Global ESG Reporting Software Market, By Deployment Mode
6.1 Introduction
6.2 On-Premises
6.3 Cloud-Based
7 Global ESG Reporting Software Market, By Organization Size
7.1 Introduction
7.2 Large Enterprises
7.3 Small and Medium-sized Enterprises (SMEs)
8 Global ESG Reporting Software Market, By End User
8.1 Introduction
8.2 Banking, Financial Services, and Insurance (BFSI)
8.3 Government
8.4 Manufacturing
8.5 Food & Beverages
8.6 Retail & Consumer Goods
8.7 Energy & Utilities
8.8 Other End Users
9 Global ESG Reporting Software 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 Workiva
11.2 Persefoni AI
11.3 Novata
11.4 Greenly
11.5 Watershed
11.6 SustainIQ
11.7 Benchmark Gensuite
11.8 Microsoft Corporation
11.9 IBM Corporation
11.10 Normative AB
11.11 APLANET Solutions
11.12 Cority Software Inc.
11.13 Coolset Inc.
11.14 Sweep
11.15 Sustainalytics
11.16 EcoVadis
11.17 Enablon
11.18 Dcycle
List of Tables
1 Global ESG Reporting Software Market Outlook, By Region (2022-2030) ($MN)
2 Global ESG Reporting Software Market Outlook, By Component (2022-2030) ($MN)
3 Global ESG Reporting Software Market Outlook, By Software (2022-2030) ($MN)
4 Global ESG Reporting Software Market Outlook, By Environmental ESG Reporting Software (2022-2030) ($MN)
5 Global ESG Reporting Software Market Outlook, By Social ESG Reporting Software (2022-2030) ($MN)
6 Global ESG Reporting Software Market Outlook, By Governance ESG Reporting Software (2022-2030) ($MN)
7 Global ESG Reporting Software Market Outlook, By Services (2022-2030) ($MN)
8 Global ESG Reporting Software Market Outlook, By Consulting Services (2022-2030) ($MN)
9 Global ESG Reporting Software Market Outlook, By Integration & Deployment Services (2022-2030) ($MN)
10 Global ESG Reporting Software Market Outlook, By Support & Maintenance Services (2022-2030) ($MN)
11 Global ESG Reporting Software Market Outlook, By Deployment Mode (2022-2030) ($MN)
12 Global ESG Reporting Software Market Outlook, By On-Premises (2022-2030) ($MN)
13 Global ESG Reporting Software Market Outlook, By Cloud-Based (2022-2030) ($MN)
14 Global ESG Reporting Software Market Outlook, By Organization Size (2022-2030) ($MN)
15 Global ESG Reporting Software Market Outlook, By Large Enterprises (2022-2030) ($MN)
16 Global ESG Reporting Software Market Outlook, By Small and Medium-sized Enterprises (SMEs) (2022-2030) ($MN)
17 Global ESG Reporting Software Market Outlook, By End User (2022-2030) ($MN)
18 Global ESG Reporting Software Market Outlook, By Banking, Financial Services, and Insurance (BFSI) (2022-2030) ($MN)
19 Global ESG Reporting Software Market Outlook, By Government (2022-2030) ($MN)
20 Global ESG Reporting Software Market Outlook, By Manufacturing (2022-2030) ($MN)
21 Global ESG Reporting Software Market Outlook, By Food & Beverages (2022-2030) ($MN)
22 Global ESG Reporting Software Market Outlook, By Retail & Consumer Goods (2022-2030) ($MN)
23 Global ESG Reporting Software Market Outlook, By Energy & Utilities (2022-2030) ($MN)
24 Global ESG Reporting Software 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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