Environmental, Social and Governance (ESG) Reporting Software Global Market Report 2024

The esg reporting software market size has grown exponentially in recent years. It will grow from $0.98 billion in 2023 to $1.19 billion in 2024 at a compound annual growth rate (CAGR) of 20.8%. The expansion observed in the historical period can be attributed to factors such as corporate social responsibility, stakeholder pressure, voluntary reporting initiatives, economic incentives, and risk mitigation.

The esg reporting software market size is expected to see exponential growth in the next few years. It will grow to $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 21.0%. The anticipated growth in the forecast period can be attributed to factors such as mandatory ESG (environmental, social, and governance) disclosure, ESG integration in financial markets, increased focus on supply chain transparency, influence from non-governmental organizations (NGOs) and activists, and the adoption of the Climate Disclosure Standards Board (CDSB) framework. Major trends in the forecast period include the integration of AI and analytics, cross-industry collaboration, initiatives in green finance, the use of blockchain for ESG transparency, and the emergence of real-time ESG reporting.

The anticipated rise in demand for ESG information by investors is set to drive the growth of the ESG reporting software market in the future. ESG information encompasses the framework and policies providing insights into a company's business practices and performance regarding sustainability and ethical issues. ESG reporting software aids in automatically alerting investors about the necessary data, reports, and information, enabling them to assess the company. As per the ESG Global Study published by Capital Group in May 2022, 89% of investors adopted ESG information in 2022, compared to 84% in 2021 among 1,130 surveyed individuals. Additionally, 31% of European investors consider ESG information a central factor in their investment approach, compared to 26% of global investors who view ESG information as a significant factor in their investment approach. Hence, the increasing demand for ESG information by investors will propel the ESG reporting software market.

The growing number of internet users is expected to be a driving force behind the expansion of the ESG reporting software market. Internet users, individuals accessing and utilizing the Internet for various purposes, benefit from ESG reporting software by promoting transparency, providing reliable data, facilitating comparative analysis, supporting engagement, mitigating risks, and ensuring compliance with sustainability standards. According to the International Telecommunication Union, approximately 4.9 billion people, or 63% of the world's population, were using the internet in 2021. Consequently, the increasing number of internet users is fueling the growth of the ESG reporting software market.

The adoption of advanced technologies emerges as a prominent trend in the ESG reporting software market, with major companies incorporating new and innovative platforms to strengthen their market position. For instance, Ez-XBRL, a US-based financial regulatory and compliance products and services company, introduced Integix ESG in June 2023 - an innovative ESG platform with an extraordinarily intuitive and process-driven approach. The platform utilizes advanced technologies such as artificial intelligence (AI) and natural language processing (NLP) to set a new standard for delivering unparalleled value to customers, enabling businesses to effectively manage the complexities of ESG reporting.

Major companies operating in the ESG reporting software market are innovating by developing new products, such as AI-powered SaaS platforms, to gain a competitive edge. An AI-powered software-as-a-service (SaaS) platform leverages artificial intelligence (AI) technologies to enhance and automate various functionalities. For example, Nasdaq, a US-based capital markets technology and exchange company, launched Nasdaq Sustainable Lens in November 2023 - an AI-powered SaaS solution designed to transform the way investors and businesses handle and analyze ESG data. This platform provides customers access to extensive ESG data from over 9,000 businesses, facilitating the compilation of sustainability disclosures and legitimate responses to stakeholder inquiries.

In May 2023, Cority Software Inc., a Canada-based software company, completed the acquisition of Greenstone Ltd. for an undisclosed amount. This strategic move aims to enhance Cority's offerings by providing a broader range of tools and strengthening its existing sustainability and ESG reporting solutions and expertise. Greenstone Ltd., a UK-based software company, specializes in ESG software and sustainability solutions for enterprises and asset managers.

Major companies operating in the environmental, social and governance (esg) reporting software market report are Refinitiv LLC, Wolters Kluwer N.V., Nasdaq Inc., MSCI Inc., Workiva Inc., Diligent Corporation, Anthesis Group, Sustainalytics, PricewaterhouseCoopers Pvt Ltd, Envirosuite Limited, EcoVadis, Sphera Solutions Inc., Isometrix Inc., Intelex Technologies Inc., Benchmark Gensuite, Cority Software Inc., RepRisk AG, Keramida Inc., Measurabl, EnHelix Inc, HSI Donesafe, Emex Software Ltd, Datamaran Limited, Novisto Inc., Diginex Ltd.

North America was the largest region in the ESG reporting software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the environmental, social and governance (esg) reporting software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the environmental, social and governance (esg) reporting software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The main components of ESG reporting software include solutions and services. Solutions refer to custom-built or configured answers tailored to address specific problems for customers. In the context of ESG reporting software, solutions are used to highlight a company's ESG initiatives, enhance transparency for investors, and promote improvements in ESG practices across various organizations. These solutions can be deployed in both on-premises and cloud-based modes and are utilized by organizations of different sizes, including small and medium enterprises (SMEs) and large enterprises. ESG reporting software finds applications across various verticals, such as banking, financial services, and insurance; information technology (IT) and IT-enabled services (ITeS); government and public sectors; manufacturing; retail and consumer goods; healthcare and life sciences; energy and utilities, among others.

The ESG reporting software research report is one of a series of new reports that provides ESG reporting software market statistics, including the ESG reporting software industry's global market size, regional shares, competitors with a ESG reporting software market share, detailed ESG reporting software market segments, market trends and opportunities, and any further data you may need to thrive in the ESG reporting software industry. This ESG reporting software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The ESG reporting software market consists of revenues earned by entities by providing ESG reporting software services that automate data collection, reporting frameworks, and sustainability management. The market value includes the value of related goods sold by the service provider or included within the service offering. The ESG reporting software market also includes sales of ESG performance reporting software and ESG enterprise reporting tools. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.