Carbon Accounting Software Market

Market Overview:  

The global carbon accounting software market size reached US$ 12,730 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 42,924 Million by 2028, exhibiting a growth rate (CAGR) of 22.60% during 2023-2028. Stringent environmental regulations imposed by governments of various nations, the increasing corporate focus on sustainability and social responsibility, the growing investor interest in sustainability, and the integration of artificial intelligence (AI) and machine learning (ML) technologies within carbon accounting software represent some of the key factors driving the market.

Carbon accounting software is a specialized software solution that allows companies to monitor and report their greenhouse gas (GHG) emissions accurately. It is designed to streamline the complex process of carbon accounting, making it easier for businesses to assess their environmental impact and take appropriate actions to reduce emissions. One of the key advantages of carbon accounting software is its ability to automate data collection and analysis. It provides tools and functionalities to gather data on energy consumption, transportation, waste management, and other relevant factors. This data is then processed and converted into carbon emissions metrics, such as carbon dioxide equivalents (CO2e), providing companies with a clear picture of their environmental performance. Additionally, carbon accounting software enables companies to generate reports and track progress over time, facilitating compliance with regulatory requirements and sustainability targets.

Carbon Accounting Software Market Trends:

The global carbon accounting software market is experiencing remarkable growth, driven by the stringent environmental regulations imposed by governments of various nations. This is further supported by the increasing corporate focus on sustainability and social responsibility. Besides this, the growing investor interest in sustainability and the integration of artificial intelligence (AI) and machine learning (ML) technologies within carbon accounting software are driving market growth. Moreover, the increasing focus on energy efficiency initiatives and the rising energy costs and sustainability goals are propelling the market growth. In line with this, global climate agreements, such as the Paris Agreement, and initiatives like the Science-Based Targets (SBT), are encouraging companies to adopt carbon accounting software to set emissions reduction targets and track progress, further creating a positive outlook for the market. Furthermore, the growing software utilization across various industries to assess and manage the carbon emissions of the supply chains and surging awareness regarding climate change and its potential impacts are providing an impetus to the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global carbon accounting software market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on deployment and industry.

Deployment Insights:

• Cloud-based
• On-premises
   

A detailed breakup and analysis of the carbon accounting software market based on the deployment has also been provided in the report. This includes cloud-based and on-premises.

Industry Insights:

• Energy and Utilities
• IT and Telecom
• Healthcare
• Transportation and Logistics
• Retail
• Construction and Infrastructure
• Food and Beverages
• Chemicals
• Others
   

A detailed breakup and analysis of the carbon accounting software market based on the industry has also been provided in the report. This includes energy and utilities, IT and telecom, healthcare, transportation and logistics, retail, construction and infrastructure, food and beverages, chemicals, and others.  According to the report, energy and utilities accounted for the largest market share.

 Regional Insights:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global carbon accounting software market. Detailed profiles of all major companies have been provided. Some of the companies covered include BraveGen (Energy Solution Providers Limited), Carbon Analytics Limited, CarbonetiX, Carbonstop, Emitwise, Evalue8 Sustainability, Intelex Technologies Inc. (Industrial Scientific Corporation), Net0, Normative, SAP SE, Simble Solutions Ltd., Sphera Solutions In, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global carbon accounting software market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global carbon accounting software market?
• What is the impact of each driver, restraint, and opportunity on the global carbon accounting software market?
• What are the key regional markets?
• Which countries represent the most attractive carbon accounting software market?
• What is the breakup of the market based on the deployment?
• Which is the most attractive deployment in the carbon accounting software market?
• What is the breakup of the market based on the industry?
• Which is the most attractive industry in the carbon accounting software market?
• What is the competitive structure of the global carbon accounting software market?
• Who are the key players/companies in the global carbon accounting software market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the carbon accounting software market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global carbon accounting software market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the carbon accounting software industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.