Carbon Footprint Management Market

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Industry Size (2022)
USD 10.2 Bn
Forecast (2032)
USD 19 Bn
CAGR (2022 to 2032)
6.4%

Carbon Footprint Management Market Outlook (2022-2032)

[250 Pages Report] The global Carbon Footprint Management market was valued at around US$ 9.6 Bn in 2021. With a projected CAGR of 6.4% for the next ten years, the market is likely to reach a valuation of nearly US$ 19 Bn by the end of 2032. Carbon footprint management market is estimated to reach an absolute dollar opportunity of US$ 8.8 Bn by 2032.

Carbon Footprint Management Market
Carbon Footprint Management Market
Attributes Details
Global Carbon Footprint Management Market Size (2021) US$ 9.6 Bn
Global Carbon Footprint Management Market Size (2022) US$ 10.2 Bn
Global Carbon Footprint Management Projected Market Value (2032) US$ 19 Bn
Global Carbon Footprint Management Market Growth Rate (2022-2032) 6.4% CAGR
U.S. Carbon Footprint Management Projected Market Value (2032) US$ 6.7 Bn
Key Companies Profiled
  • Carbon Footprint Ltd
  • Dakota Software Corporation
  • ENGIE
  • IsoMetrix
  • IBM
  • ProcessMAP
  • General Electric
  • Salesforce
  • SAP
  • Wolters Kluwer N.V.,
  • Schneider Electric
  • Intelex
  • Enablon
  • Trinity Consultants
  • Envirosoft
  • Enviance
  • Accuvio
  • Carbon EMS
  • Native Energy
  • EnergyCAP
  • Locus Technologies
  • Ecotrack

Sales Analysis of Carbon Footprint Management Market from 2015 to 2021 Vs Market Outlook for 2022 to 2032

Future Market Insights reveals that, cloud deployment dominated the carbon footprint management market with a CAGR of 6.9% during 2015-2021. The projected growth rate in the cloud segment is poised to be around 6.1% CAGR over the forecast period. Revenue through the energy and utilities vertical grew at a CAGR of 6.8% during 2015-2021 and is expected to achieve a growth rate of 6.1% during the forecasted period set between 2022 and 2032.

The entire amount of greenhouse gases that come from economic or human activity is characterized as the carbon footprint. As a result of greenhouse gas emissions from production, transportation, and energy use, there is a growing demand for carbon footprint management in businesses. The World Meteorological Organization states that the concentration of greenhouse gases peaked in 2019 and that atmospheric CO2 levels now are comparable to those from more than three million years ago. This fuels the market for carbon footprint management. According to Nature Conservancy, the need for carbon footprint management software with the most recent technology will result from the requirement to reduce carbon footprint to less than two tonnes per year by 2050. This will enable real-time tracking and solution-based results to stop greenhouse gases from reaching the ozone layer.

What factors are resulting in the growth of the carbon footprint management market?

With the aid of carbon footprint management software, which assists in measuring and reporting carbon footprint for various enterprises, the market for carbon footprint management is being driven by factors like growing awareness about the importance of reducing carbon emissions and cutting operational costs, while balancing its rising cost.

Calculating and managing carbon emissions is a rigorous process. Therefore most enterprises are allocating their budget and making investments for managing carbon emissions. Carbon footprint management solutions plays a vital role in green initiatives taken by the enterprises, and compete with companies in order to strengthen their reputation as sustainable enterprise. Carbon footprint management software allows the integration of latest technology, thereby allowing the data to store in the cloud and can be accessed through various devices and also in direct access to change with industries’ new practices.

The government's programmes and limits on low carbon emission also force enterprises to implement software and technologies that are relevant to carbon emissions. Due to the need to track overall carbon emissions, demand for carbon footprint management software has surged. Additionally, businesses are using these technologies and software into use to protect employees who work in sectors with high carbon emissions and are susceptible to serious illnesses like heart and lung disease.

Country-wise Insights

How is the market for carbon footprint management shaping up in U.S.?

The carbon footprint management market in the U.S. is expected to be valued at US$ 6.7 Bn by 2032. The market in the U.S. achieved a growth rate of 6.9% during 2015-2022 and is projected to grow at a CAGR of 6.1% over the forecasted period. The market for carbon footprint management is expanding as a result of rising energy emissions in the United States and subsequent regulatory actions by the American government to monitor enterprises' carbon footprints.

The industrial sector in the United States contributed 36% of the total energy consumption in 2020, out of which 36% was used by manufacturing businesses, according to the US Energy Information Administration. This demonstrates how coal is primarily responsible for the industrial sector's energy needs. These indicators make it possible for businesses to use carbon footprint management tools to reduce their carbon footprint. The absolute dollar opportunity growth in the carbon footprint management market in U.S. is estimated at US$ 3 Bn by 2032.

Category-wise Insights

How cloud deployment type is maintaining its presence in carbon footprint management market?

Cloud deployment dominated the market of carbon footprint management. Revenue through cloud management grew at 6.9% CAGR during 2015-2021. Projected revenue throughout the forecast period through cloud deployment is estimated at a 6.1% CAGR. Growth in cloud deployment type is owed to large spaces to store data, provide fast data transfer and offer safety and security against any data-related issues and ensure regulatory compliance. The cloud implementation is quite economical and can be scaled up to meet customer needs. According to a study commissioned by Amazon Web Services (AWS), organizations moving to the cloud could experience the highest savings in countries like Australia and India that have less effective data center infrastructure.

Why Energy & Utilities are dominating the vertical segment of the carbon footprint management market?

Energy & Utilities maintained its largest influence in the vertical segment of the carbon footprint management market. Energy & utilities accounted a revenue growth of 6.8% CAGR during the period of 2015-2022 and are projected to achieve a growth rate of 6.1% between 2022 and 2032.

Energy & Utilities sector experiences rising carbon footprints due to a surge in energy demand and electricity generation. There is a higher demand for heating and cooling needs across all the countries. Moreover, the energy sector contributes to 40% of global emissions of CO2, and based on IEA data, global carbon emissions from energy combustion and the industrial sector grew to a record high in 2021. Owing to higher carbon footprints in the energy & utilities vertical, it is highly likely that a carbon footprint management solution will be required by the industry in the forthcoming years.

Region-wise Insights

How is the market for carbon footprint management market shaping up in Asia-Pacific?

Many organizations in Asia-Pacific have tried to improve the energy efficiency of their data centers, however, their carbon footprint is still found to be higher. Carbon footprint management market in China is expected to be valued at US$ 1.3 Bn by 2032. Revenue through carbon footprint management grew at a CAGR of 6.6% during 2015-2021. The projected growth rate of carbon footprint management in China is estimated at 5.8% over the forecast period.

Businesses involved in high carbon industries are assuming the responsibility to take into account the carbon footprint generated from their industries. Moreover, several companies situated in China and Japan have announced net zero carbon plans. These goals set by countries to reduce carbon footprint is expected to drive the demand for carbon footprint management.

Competitive Landscape

The carbon footprint management software companies are largely aiming at enhancing carbon footprint management software by integrating it with cloud, joining alliance to reduce their carbon footprint and take into account the environmental and climatic actions. The key companies operating in the carbon footprint management market include Carbon Footprint Ltd, Dakota Software Corporation, ENGIE, IsoMetrix, IBM, ProcessMAP, General Electric, Salesforce, SAP, Wolters Kluwer N.V., Schneider Electric , Intelex, Enablon , Trinity Consultants, Envirosoft, Enviance, Accuvio, Carbon EMS, Native Energy, EnergyCAP, Locus Technologies and Ecotrack.

Some of the recent developments by key providers of Carbon Footprint Management are as follows:

  • In June 2022, Salesforce collaborated with AT&T’s Connected Climate Initiative to reduce global emissions by 2032. Under the collaboration terms, AT&T will integrate Salesforce’s net zero cloud platform to measure its carbon footprint.
  • In February 2022, SAP SE partnered with BearingPoint to take the initiative of carbon and environmental footprint solutions. With the launch of SAP Cloud for sustainable Enterprises solution and BearingPoint’s expertise with emission calculations, the partnership will develop innovative solutions and address the concerns regarding environmental footprints throughout the value chain.
  • In November 2021, Siemens developed a tracking process of a product carbon footprint. In order to determine a product's actual carbon footprint, it will facilitate the exchange of emission data along the supply chain and integrate it with data from a company's own value creation.
  • In October 2021, Agilent aims to invest in renewable energy and focus on areas where its carbon footprint is strongest. With the commitment towards, achieving net-zero greenhouse gas emissions by 2050, their approach aims to bring out transparency and innovation by focusing on reduction of carbon footprint.
  • In September 2021, Salesforce achieved net zero and 100% renewable energy across all its value chain. With the aim of committing net positive impact on climate, the company is leveraging their cloud sustainability to enhance carbon footprint and thereby assist their suppliers to achieve the same.
  • In January 2021, Accenture and Salesforce deepened their alliance by assisting companies to bring sustainability in the business with the aim of providing C-suite with real-time environmental, social and governance (ESG) data. Moreover, companies will track, measure and act on sustainability issues involving the usage of carbon and meeting the regulatory requirements.
  • In November 2019, Engine Partnered with Accenture, Salesforce and Vlocity to deploy global unified CRM platform along with helping customers reach zero-carbon future.

Similarly, recent developments related to companies manufacturing Carbon Footprint Management have been tracked by the team at Future Market Insights, which is available in the full report.

Key Segments Covered in Carbon Footprint Management Industry Survey

Carbon Footprint Management Market by Component:

  • Solution
  • Services

Carbon Footprint Management Market by Deployment Mode:

  • Cloud
  • On-Premises

Carbon Footprint Management Market by Verticals:

  • Manufacturing
  • Energy and Utilities
  • Residential and Commercial Buildings
  • Transportation and Logistics
  • IT and Telecom

Carbon Footprint Management Market by Region:

  • North America Carbon Footprint Management Market
  • Latin America Carbon Footprint Management Market
  • Europe Carbon Footprint Management Market
  • South Asia Carbon Footprint Management Market
  • East Asia Carbon Footprint Management Market
  • Oceania Carbon Footprint Management Market
  • Middle East & Africa Carbon Footprint Management Market

Frequently Asked Questions

How much is the global Carbon Footprint Management Market currently worth?

The global carbon footprint management market was valued at US$ 9.6 Bn in 2021 and is estimated at US$ 10.2 Bn by 2022-end.

What is the Carbon Footprint Management Market Forecast through 2032?

The carbon footprint management industry is set to witness a high growth rate of 6.4% over the forecast period and is valued at US$ 19 Bn by 2032.

Which deployment mode holds the highest usage in Carbon Footprint Management Market?

Cloud-deployment of Carbon Footprint Management Market maintained its largest share in 2021 and is expected to grow at 6.1% CAGR during the forecasted period.

Who are the key players shaping the Carbon Footprint Management Market?

Carbon Footprint Ltd, Dakota Software Corporation, ENGIE, IsoMetrix, IBM, ProcessMAP, General Electric, Salesforce, SAP, Wolters Kluwer N.V., Schneider Electric, Intelex, Enablon , Trinity Consultants, Envirosoft, Enviance, Accuvio, Carbon EMS, Native Energy, EnergyCAP, Locus Technologies and Ecotrack are the key providers of carbon footprint management market.

Which vertical is driving the demand for carbon footprint management market?

Energy and Utilities dominated the market for carbon footprint management market with 6.8% CAGR from 2017 to 2021. The anticipated growth rate of energy and utilities is estimated at 6.1% during the forecasted period.

Which are the top 5 countries driving the highest revenue in Carbon Footprint Management?

U.S., U.K., China, Japan and South Korea are expected to drive the most revenue growth in Carbon Footprint Management Market.

What is the U.S. market outlook for Carbon Footprint Management?

The Carbon Footprint Management market in the U.S. is valued at US$ 6.7 Bn in 2032 and is expected to achieve a growth rate of 6.1% during the forecasted year.

What is the China market outlook for Carbon Footprint Management?

The Carbon Footprint Management Market in China is valued at US$ 1.3 Bn by 2032. The projected growth in the market is estimated at 5.8% CAGR during the forecasted period.

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Future Market Insights

Carbon Footprint Management Market