Carbon Footprint Management Market
The swelling demand for energy consumption by industries is positively impacting the growth of the carbon footprint management market.
PORTLAND, PORTLAND, OR, UNITED STATE, May 17, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Carbon Footprint Management Market to Reach USD 18.2 Billion by 2031 | Top Players Such as – ENGIE, IsoMetrix and GE.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global carbon footprint management market: global opportunity analysis and industry forecast, 2020–2027 market was valued at USD 9.3 billion in 2021, and is projected to reach USD 18.2 billion by 2031, growing at a CAGR of 7% from 2022 to 2031.
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Rise in demand for energy consumption by industries and increase in demand for sustainable energy solution have propelled the global carbon footprint management market. However, high installation and maintenance costs of carbon footprint solution hinder the market. On the contrary, surge in trend of advanced technologies such as artificial intelligence, IoT, and big data to reduce carbon emission would unlock new opportunities in the future.
The carbon footprint management market is segmented on the basis of component, deployment mode, industry vertical, and region. On the basis of component, the market is divided into solution and service. Depending on deployment mode, the market is classified into on premise and cloud. By industry vertical, the market is segmented into energy and utilities, manufacturing, residential and commercial buildings, transportation and logistics, and IT and telecom. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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By component, the solution segment accounted for the highest share in 2021, garnering nearly two-thirds of the global market. However, the service segment is estimated to cite the fastest CAGR of 8.4% during the forecast period.
By industry vertical, the residential and commercial buildings segment is expected to showcase the fastest CAGR of 9.0% from 2022 to 2031. On the other hand, the energy and utilities segment garnered the highest share in 2021, generating more than one-fourth of the global market.
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By region, the market across North America dominated in 2021, contributing t nearly two-fifths of the market. Simultaneously, Asia-Pacific is projected to display the fastest CAGR of 8.8% throughout the forecast period.
The leading market players analyzed in the global carbon footprint management market report include Dakota Software Corporation, ENGIE, IBM, General Electric, Salesforce, SAP, Wolters Kluwer N.V., Carbon Footprint Ltd, IsoMetrix, and ProcessMAP.
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Covid-19 Scenario:
● Due to Covid-19 outbreak, several business and manufacturing industries were forced to limit or halt their production. Moreover, dearth of staff and worker on-site created challenges to maintain full-scale productivity.
● Rise in consumer awareness about personal carbon footprint management boosted the market growth.
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