To know the impact of COVID-19 On Carbon Footprint Management Market 2020 By Component, (Solution, Service) By Service (Integration, Support, Maintenance, Consulting, Deployment), By Deployment (On-cloud, On-premise) Forecast to 2025 Market
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
Global Carbon Footprint Management Market is valued at USD 9.23 Billion in 2018 and expected to reach USD 12.17 Billion by 2025 with the CAGR of 4.92% over the forecast period.
This Carbon Footprint Management Market report also covers the impact of COVID-19 on the global market. The pandemic caused by Coronavirus (COVID-19) has affected every aspect of life globally, including the business sector. This has brought along several changes in Carbon Footprint Management Market conditions.
Increasing adoption of carbon footprint management software by enterprises owing to rising greenhouse emissions, growing regulatory compliances by government, are the major factors for driving the growth of Global Carbon Footprint Management Market.
Scope of Global Carbon Footprint Management Market Report-
Carbon footprint gives a measurement of the contribution of human and industrial activities to carbon dioxide (CO2) emissions and their equivalent to other greenhouse gas (GHG) emissions. The major contributors of global greenhouse and carbon emissions are production and consumption of cars, land clearing, food, materials, wood, fuel, manufactured goods, roads, buildings and services. Today, all industries are responsible to some extent for greenhouse gas emissions, with the oil and gas and aviation industries being the main visible criminals. However, as consumer and regulatory pressures increase, all businesses are forced to manage their carbon footprints. Industry awareness of the need to manage energy consumption strategically has increased.
Effective carbon footprint management involves a series of activities, for example, measuring the impact of the carbon footprint of various business activities, determining and implementing emission reduction and control strategies, and then communicating achievements with stakeholders. Managing the carbon footprint involves measuring and accounting for carbon emissions. Managing the carbon footprint has developed strategies to reduce greenhouse gas emissions. There is a high demand for carbon calculations. From basic online calculators to input-output methods or complex life-cycle analysis and tools, various methods have been proposed for estimation, and these methods have led to the development of the global carbon footprint management market.
Currently, most companies follow a rigorous process to calculate and manage their carbon emissions. Carbon footprint management solutions should play an essential role in the green initiatives developed and implemented by these companies, aimed at strengthening their reputation as a leader in sustainable development and therefore differentiating them from their competitors. To achieve this goal, companies are allocating large budgets to manage their carbon emissions, and a considerable part of these investments should be directed to the carbon footprint management market.
Global Carbon Footprint Management Market is segmented on the basis of component, service, deployment outlook and end-user. On the basis of component, the market is segmented into service and solution. On the basis of service, market is segmented into integration, support, maintenance, consulting, deployment and others. On the basis of deployment outlook, the market is segmented into on-cloud and on-premise. On the basis of end-user, the market is segmented into energy, manufacturing, transportation, residential, commercial, utilities and others.
The regions covered in this Carbon Footprint Management market report are North America, Europe, Asia Pacific and rest of the World. On the basis of country level, market of Carbon Footprint Management is subdivided into U.S., Mexico, Canada, U.K., Germany, France, Italy, China, Japan, South East Asia, Africa, etc.
Carbon Footprint Management Manufacturers
Carbon Footprint Management Market report covers major key players in the market like,
- Enablon, Thinkstep
- Carbon Footprint
- Natural Capital Partners
- Dakota Software
- Schneider Electric
- Velocity EHS
- Aurecon Group
- Verisae Inc.
Global Carbon Footprint Management Market Dynamics-
Increasing adoption of carbon footprint management software by enterprises owing to rising greenhouse emissions and to adhere to the measures of sustainable development, growing regulatory compliances by government, are the major factors for driving the growth of Global Carbon Footprint Management Market. As per the statistics revealed by Our World In Data, there is an emission of 36 billion tonnes of carbon per year, globally. As on December 2019, the CO2 levels in the atmosphere are on a rise, surpassing 400 ppm.
Moreover, there is a growing concern to reduce operational costs, maintain enterprise sustainability, and corporate social responsibility, and the incorporation of analytics in making efficient strategic decisions in businesses are other major factors contributing to the growth of carbon footprint management market.
However, there is a requirement of a huge initial investment and expense, in order to transform the existing infrastructure into sustainable buildings, high on energy savings and adhering to carbon emission compliances. Installation of green equipment and devices pose another major hurdle to the adoption of carbon management systems. Additionally, lack of strategic landscape is also one of the major factors acting as a restrain to the market growth.
There is an increasing modernization of IT in systems and telecommunications infrastructure. For energy-intensive industries, managing the carbon footprint is becoming increasingly important and is expected to provide a favorable growth path for this market. The transition to very low emission transportation is also expected to benefit the growth of the market. In addition, support for the carbon trading market is expected to present lucrative opportunities for the growth of carbon footprint management market.
North America is expected to remain a dominant region in the Global Carbon Footprint Management Market.
North America is the dominant region in the market with the largest share of the global Carbon Footprint Management market, attributed to huge investments by countries in management of carbon footprints and greenhouse emissions. The region is also known to possess strong regulatory compliances by government for enterprises to keep the carbon emissions in check. There is also a prevalent awareness in the population in regard to growing temperature at global level due to such gas emissions. In the Paris Agreement, UN members have set a limiting temperature rise of 2 degree Celsius, to support climate change. USA stands at second position in global carbon emissions equalling to almost 18% followed by Europe with an emission rate of 17%.
Whereas Asia Pacific region is expected to grow at a fastest rate and exhibit a spurring growth in the Carbon Footprint Management market. The growth is subjected to the growing foreign direct investments in the countries of APAC region, rapid pace of industrialisation, high carbon emissions, increasing technological adoptions, and government endeavours to encourage sustainable development, keeping environment in check. As on December 2019, China is the world’s largest carbon and greenhouse gases emitter, with a percentage of 25% or 10 billion tonnes each year, of total emissions, as per Our World In Data.
Key Benefits of Global Carbon Footprint Management Market Report-
Global market report covers in depth historical and forecast analysis.
Global market research report provides detailed information about Market Introduction, Market Summary, Global Market Revenue (USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
Global Carbon Footprint Management Market Segmentation: -
By Component: Solution, Service
By Service: Integration, Support, Maintenance, Consulting, Deployment
By Deployment: On-cloud, On-premise
By End-User: Energy, Manufacturing, Transportation, Residential, Commercial, Utilities
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
Frequently Asked Questions (FAQ) :
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Global Carbon Footprint Management Market Size|Trends Detailed Analysis 2020