Carbon Footprint Management Market Size is Estimated to Reach USD 18.2 Billion by 2031 | ENGIE, IsoMetrix, IBM

WILMINGTON, DE, UNITED STATES, October 27, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Carbon Footprint Management Market, By Component (Solution, Service), By Deployment Mode (On Premise, Cloud), By Industry Vertical (Energy and Utilities, Manufacturing, Residential and Commercial Buildings, Transportation and Logistics, IT and Telecom): Global Opportunity Analysis and Industry Forecast, 2021-2031″.

The carbon footprint management market was valued at $9.3 billion in 2021, and is estimated to reach $18.2 billion by 2031, growing at a CAGR of 7% from 2022 to 2031.

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Carbon footprint management is focused on greenhouse gas emissions, associated with consumption rather than greenhouse gas emissions linked with production. The calculations include emissions that are associated with goods imported into a nation and produced elsewhere. Moreover, companies can reduce or offset their carbon footprints by enhancing their energy efficiency, consuming energy made from renewable origin, raise awareness, focus on environmental projects, and paying green taxes.

Furthermore, increase in demand for energy consumption by industries and the drive for more sustainable energy solutions propel the growth of the global carbon footprint management market. Moreover, increase in government initiatives and policies for low carbon policies positively impact the growth of the carbon footprint management market. However, higher installation and maintenance costs of carbon footprint management can hamper the carbon footprint management solutions market growth during the forecast period. On the contrary, the growing adoption trends of advanced technologies, such as artificial intelligence, IoT, and big data, across industries to reduce carbon emission is expected to offer remunerative opportunities for expansion of the carbon footprint management market during the forecast period.

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Competitive Analysis:
The competitive environment of Carbon Footprint Management Industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, Carbon Footprint Management Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Carbon Footprint Ltd
Dakota Software Corporation
ENGIE
IsoMetrix
IBM
ProcessMAP
General Electric
Salesforce
SAP
Wolters Kluwer N.V and Many More

By region, the carbon footprint management market was dominated by North America in 2020 and is the home to major players offering advanced solutions in the carbon footprint management market. In addition, according global carbon footprint management market analysis, North America is the major contributor as the region is well developed and the environmental safety investments is at rise in the U.S. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to high diversity and is expected to experience rapid growth in future. In China, the carbon footprint management market is anticipated to witness significant growth, owing to increase in awareness among the organization and increase in government initiatives.

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The global pandemic has had a significant economic impact on the carbon footprint management market. As a result of massive supply chain disruptions, manpower shortages, and local market limitations, several sectors faced considerable slowdowns. This had both, direct and indirect effects on the carbon footprint management solutions industries, as limited operations of manufacturing and fabrication plants, large-scale public infrastructure (airports, railway stations, shopping malls, and so on) resulted in a slowdown in sales and subscription of carbon footprint management software solutions. However, strict government policies to regulate industrial and domestic emissions are helping the carbon footprint management market to grow in the aftermath of the COVID-19 pandemic.

Demand for carbon footprint management platforms has been on a rise for the past few years and the market is expected to continue this trend in the coming years as well, owing to growing trends towards green and sustainable technology, which promote the use of carbon footprint management solutions. Moreover, increase in advancements in AI and data analytics solutions prove to be beneficial for the development of carbon footprint management solutions in the coming years. In addition, the growing fear of climate change and global warming are promising new opportunities for the growth of the carbon footprint management market.

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