Global Carbon Footprint Management Market Size To Grow At A CAGR Of 6.6% In The Forecast Period Of 2023-2028
The ‘Global Carbon Footprint Management Market Trends, Share, Size, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research, gives an extensive outlook of the global carbon footprint management market, assessing the market on the basis of its segments like component, end-user, lifetime and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Carbon Footprint Management Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Value (2021): USD 9.1 billion
- Forecast CAGR (2023-2028): 6.6%
- Forecast Market Value (2027): USD 13.1 billion
The need for carbon footprint management is growing as a result of strict restrictions by various governments, such as the establishment of heavy-duty GHG limits to minimise carbon emissions in the transportation industry.
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The expansion of the carbon footprint management market is anticipated to be supported by solutions which assist vehicle manufacturers in understanding the carbon footprint of all vehicle types, including gasoline, hybrid, and electric, to help them lessen their environmental impact. Carbon footprint management providers advise on how to lessen carbon footprints, offering short-term and long-term solutions.
The increased adoption of carbon footprint management by small and mid-size manufacturing enterprises is a result of the public’s growing knowledge of the harmful impacts of carbon emissions. These tools and services help to evaluate the carbon footprint of individual products by analysing and visualising emissions across the supply chain, from the acquisition of raw materials to their disposal or recycling. With the use of integrated cloud applications and carbon-reduction strategies, the manufacturing sector can move towards becoming carbon-neutral.
The move to lower carbon intensity by reducing emissions on a per-barrel basis for refined crude oil is supported by the increased eco-awareness of refiners. As a result, there is a growing demand for the carbon footprint management market because of the emerging requirement for net-zero emissions in oil refineries.
Carbon Footprint Management Industry Segmentation
Organisations can help to lessen the effects of climate change by reducing carbon emissions from routine activities. This management of carbon emissions is known as carbon footprint management. It supports the efficient use of carbon emissions, which reduces costs, while assisting businesses in identifying their potential.
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Based on components, the market is bifurcated into:
- Services (Consulting, Integration and Deployment, Support and Maintenance)
On basis of end-user, the market is divided into:
Based on lifetime, the market is segmented into:
- Material Production
The major regional markets include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Carbon Footprint Management Market Trends
Integrated digital solutions that are adapted to the needs of the customer are being used for carbon footprint computation, carbon reduction, and carbon offsetting, bolstering the carbon footprint management market. In order to cohabit with the environment, market participants are providing effective carbon footprint management solutions that assist organisations in becoming carbon neutral, giving them the ability to use affordable, dependable, and clean energy sources.
Alibaba Cloud debuted its Energy Expert Software-as-a-Service solution in July 2022. It enables users to track, analyse, and control the carbon emissions produced by their operations and goods. The platform enables users to achieve sustainability and lower their carbon footprint by providing energy-saving insights and energy-efficient equipment. The leading competitors’ endeavours to provide such cutting-edge solutions that live up to client expectations are anticipated to sustain the carbon footprint management market over time.
Additionally, there are carbon footprint management services that offer the knowledge and tools necessary for clients to annually collect, compute, and track their carbon emissions. These services provide digital tools, assist with the complexities of carbon accounting, and provide a thorough understanding of carbon emissions through inventory management strategies.
Fujitsu Limited and Ridgelinez Limited launched new services for the carbon footprint management market in December 2021 that help consumers in the Japanese market reach carbon neutrality and zero carbon emissions. Clients are assisted by these consulting services provided by Ridgelinez in measuring and visualising the carbon emissions in their supply chains.
Key Market Players
The major players in the global carbon footprint management market report include :
- Schneider Electric
- Salesforce Inc
- Carbon Footprint Ltd
- IBM Corporation
- Dakota Software
- SAP SE
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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