Carbon Footprint Management Global Market Report 2024

The carbon footprint management market size has grown strongly in recent years. It will grow from $9.65 billion in 2023 to $10.18 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The historic growth can be linked to rising energy demands, escalating pollution levels, surging vehicle sales, and the increased emissions stemming from aviation.

The carbon footprint management market size is expected to see strong growth in the next few years. It will grow to $12.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. In the upcoming period, growth is anticipated with government backing and COP26 initiatives driving expansion in construction and infrastructure. Key trends include AI for emissions monitoring, new tech for competitiveness, blockchain for carbon traceability, and partnerships for innovation.

The growth of the carbon footprint management market is expected to be propelled by the implementation of various carbon emission policies by governments worldwide. Governments across the globe have undertaken initiatives to address the pressing issues of carbon footprint and pollution, setting targets to reduce environmental impact. A notable example is the German government, which, in May 2021, established new targets for carbon reduction. Under these targets, Germany aspires to achieve a 65%, 88%, and nearly 0% net carbon emission by the years 2030, 2040, and 2045, respectively. In response to these initiatives, organizations are mandated to adhere to the prescribed norms and regulations. The imperative for reducing carbon footprint is expected to drive an increased demand for carbon footprint management systems, as these systems assist organizations in identifying opportunities for minimizing their carbon impact.

Government initiatives are anticipated to provide significant support to carbon footprint management in the forecast period. Governments and stakeholders worldwide, with a focus on addressing climate change, are formulating policies and making amendments to curtail greenhouse gas emissions and environmental pollution. For instance, the German government, in May 2021, reinforced its commitment to reducing carbon footprint and achieving greenhouse gas neutrality by 2045. The specified targets include a 65% reduction in carbon emissions by 2030 and an 88% reduction by 2040. Similarly, the Indian government has strengthened its 2030 targets and committed to achieving net-zero emissions by 2070. The increasing global initiatives to combat carbon footprint and pollution are expected to drive a heightened demand for carbon footprint management systems, contributing to the growth of the market in the forecast period.

A prominent trend gaining traction in the carbon emission management market is the increasing focus on enterprise sustainability among organizations. Major players in the carbon emission management sector are proactively launching new products to address the growing market demand for effectively regulating carbon emissions. An illustrative example is the initiative taken by Capgemini, a France-based information technology services and consulting company. In June 2021, Capgemini introduced 'Sustainable IT,' a specialized offering designed to assist IT companies in reducing their carbon footprint. This novel offering aims to support clients in their sustainability journey by leveraging Capgemini's technical expertise, customized approach, and a robust partner ecosystem, utilizing the company's global sustainability offering framework.

A key strategy employed by companies in the carbon footprint management market is the emphasis on partnerships and collaborations to foster technological advancements and enhance market share. In May 2022, the Boston Consulting Group (BCG), a prominent US-based management consulting firm, entered into a strategic partnership with Carbon Direct, a US-based carbon management firm. The collaboration is aimed at accelerating net-zero targets for clients, showcasing a commitment to collaborative efforts in achieving environmental goals. Additionally, Schneider Electric, a France-based provider of digital automation and energy management solutions, launched the Zero Carbon Project in April 2021. This initiative involves partnering with the company's top 1,000 suppliers to help reduce their CO2 emissions by 50% by 2025. By focusing on its major suppliers, representing 70% of Schneider’s carbon emissions, the company aims to make significant strides in reducing overall carbon impact through collaborative measures. These partnerships and collaborative initiatives underscore a collective commitment to advancing sustainable practices within the carbon emission management market.

In May 2022, ESP, a New Zealand-based firm specializing in energy efficiency and decarbonization, acquired BraveGen for an undisclosed sum. This acquisition enables ESP to merge their offerings, providing comprehensive carbon and energy efficiency management services to businesses globally. This includes Software as a Service (SaaS) for monitoring and reporting, alongside robust consulting services. BraveGen, also based in New Zealand, specializes in enterprise carbon accounting, environmental compliance, and sustainability management systems.

Major companies operating in the carbon footprint management market report are IBM Corporation, Salesforce.com, Inc., Engie SA, SAP SE, Simble Solutions Ltd., Enablon, Schneider Electric SE, GreenStep Solutions Inc., IsoMetrix Software, Dakota Software Corporation, Altilium, Yokogawa India, SGS India, Mitsui, Pwc Japan Group, Enking International, Carbon Trust China, Carbonstop, Enesource, Carbon Care Asia, Sphera, Carbon Intelligence, Planetly, Compact Carbon Capture (3C), Accuvio, Cority Software Inc., Energycap LLC, Intelex Technologies Inc., Locus Technologies, Nativeenergy Inc., Johnson Controls, Accenture PLC, Velocityehs And Carbon Trust, Envirosoft Corporation, Energywatch's Watch Wire, Metricstrac, Processmap EHS Software, Carbon Footprint Ltd., Shagaya Clean Energy Development, Greencarbon Co. W.L.L, Tristar Group, Alternative Energy Projects Co, Starsight Energy.

North America was the largest region in the carbon footprint management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the carbon footprint management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the carbon footprint management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

These systems typically consist of solutions and services, encompassing consulting, integration, support, maintenance, and deployment modes such as on-premise or cloud-based. They find application across various sectors such as manufacturing, IT, residential and commercial buildings, transportation, energy, and utilities.

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

The carbon footprint management market includes revenues earned by entities by providing software tools that are used to track organizations' carbon footprint to the roadmap to a more efficient business by reducing the consumption of fossil energy. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

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.