Government Initiatives To Reduce Carbon Footprints Are A Major Growth Driver For The Carbon Footprint Management Market

The Business Research Company’s Carbon Footprint Management Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, November 25, 2022 /EINPresswire.com/ -- The carbon footprint management market consists of sales of carbon footprint management solutions and services that use software to track the carbon footprint of an organization. A carbon footprint management system is a technological solution for measuring the impact of human activity on the environment, expressed as a carbon dioxide equivalent. This tool allows organizations to identify opportunities for reducing materials, water, waste, and energy use, thus reducing their carbon footprint.

Reference to the Global Market Model, will evidence the rise in demand with the Carbon Footprint Management Global Market anticipated to grow from $8.63 billion in 2021 to $9.42 billion in 2022, at a compound annual growth rate (CAGR) of 9%. The introduction of various carbon emission policies and initiatives by governments across the world to reduce carbon footprint and pollution is expected to propel the growth of carbon footprint management systems. The requirement for organizations to adhere to the new norms and regulations will result in a growth in demand for carbon footprint management systems to facilitate organizations in identifying carbon footprint reduction opportunities. The market size is projected to reach $12.20 billion in 2026, at a CAGR of just over 7%, continuing on an upward trajectory to $17.04 billion by 2031, but at a marginally reduced growth rate of just below 7%.

North America was the largest region in the carbon footprint management market, accounting for around 36% of the global market in 2021, with Asia Pacific and Western Europe following behind with around 27% and 23% of the global market, respectively. North America is also expected to show the fastest growth of any region, in the period through 2026, although the Asia Pacific growth rate is expected to outpace that of North America in the period onwards to 2031. Africa was the smallest region in the carbon footprint management market, a position that is not forecast to change. When analyzed by country, the USA had the largest share of the global market, accounting for around 31%, with China, less than half the size, in second place with a 14% share. However, China is forecast to show the most growth in the period 2021 to 2026 with a CAGR of over 9%, with India following closely behind with an anticipated CAGR of 8.5%.

The main types of components in carbon footprint management are solutions, which accounted for 45% of the market in 2021, and services, with both a larger 55% market share and a faster growth rate to 2026 and through 2031. Solutions refers to resources for aggregating, calculating, and tracking carbon emissions over a period of time for a comprehensive view of total carbon emission, whereas the services provided by carbon footprint management include consulting, integration and deployment, support and maintenance, and system integration.

The rising focus on enterprise sustainability among organizations is a key trend gaining popularity in the carbon emission management market, with major companies operating in the sector focused on launching new products to meet the rising market demand for regulating their carbon emissions. For instance, in June 2021, a France-based information technology services and consulting company, Capgemini, launched “Sustainable IT”, an offering designed to assist IT companies in reducing their carbon footprint. The new offering supports clients on their sustainability journeys through its technical expertise, customized approach, and strong partner ecosystem using Capgemini’s global sustainability offering framework.

Carbon Footprint Management Global Market Report 2022 – By Component (Solution, Services), By Deployment (On-Premises, Cloud), By Vertical (Manufacturing, IT And Telecom, Residential And Commercial Buildings, Transportation And Logistics, Energy And Utilities) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides carbon footprint management market overviews, analyzes and forecasts carbon footprint management market size, share, carbon footprint management market players, carbon footprint management market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.

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