LONDON, Oct. 13, 2023 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the carbon footprint management market, the introduction of various carbon emission policies by governments in carbon footprint management is expected to propel the growth of the carbon footprint market. Governments across the world have taken various initiatives to reduce their carbon footprint and pollution.
For instance, in May 2023, the German government set new targets to reduce its carbon footprint. Under the new targets, Germany will aim for a 65%, 88%, and nearly 0% net carbon emission by 2030, 2040, and 2045 respectively. As a result, organizations have been instructed by governments to follow the norms and regulations. The adherence requirements for reducing carbon footprint would result in a growth in the demand for carbon footprint management systems as it assists organizations in identifying avenues for reducing their carbon footprint.
The main types of components in carbon footprint management are solutions and services. The services provided by carbon footprint management include consulting, integration and deployment, support and maintenance, and system integration. The different modes of deployment include on-premise, cloud and are implemented in various verticals such as manufacturing, IT and telecom, residential and commercial buildings, transportation and logistics, energy and utilities, others.
The global carbon footprint management market is expected to grow from $7.76 billion in 2020 to $8.63 billion in 2023 at a compound annual growth rate (CAGR) of 11.3%. The growth in the carbon footprint management market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The carbon footprint management market is expected to reach $11.50 billion in 2025 at a CAGR of 7.4%.
The Business Research Company’s report titled Carbon Footprint Management Global Market Report 2023 – 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), COVID-19 Growth And Change covers major carbon footprint management companies, carbon footprint management market share by company, carbon footprint management manufacturers, carbon footprint management market size, and carbon footprint management market forecasts. The report also covers the global carbon footprint management market and its segments.
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North America was the largest region in the carbon footprint management market in 2020. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the carbon foorprint management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
In October 2020, Radicle Group Inc., a carbon reduction solutions company based in Canada acquired Climate Smart Businesses Inc. for an undisclosed amount. Through this acquisition, Radicle Group aims to better address the needs of clients seeking to calculate emissions and then manage a carbon strategy to strengthen their business. Climate Smart Businesses is a Canada-based company that provides carbon footprint management services.
The rising focus on enterprise sustainability among organizations is a key trend gaining popularity in the carbon emission management market. Companies operating in the carbon emission management sector are focused on launching new products to meet the rising market demand for regulating their carbon emission. Major players in the carbon footprint management industry are Accuvio, Carbon EMS, Enviance, EnergyCAP LLC, ENGIE Impact, Envirosoft Corporation, Intelex Technologies Inc., IsoMetrix Software, Locus Technologies, NativeEnergy Inc., SAP SE, Johnson Controls, Accenture PLC, IBM Corporation, Schneider Electric S.E., Natural Capital Partners, VelocityEHS, and Carbon Trust.
Carbon Footprint Management Global Market Report 2023 – COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provide carbon footprint management market overviews, carbon footprint management market analyze and forecast market size and growth for the whole market, carbon footprint management market segments and geographies, carbon footprint management market trends, carbon footprint management market drivers, carbon footprint management market restraints, carbon footprint management market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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