Market Segmentation of Emission Management Software: By Type, Competitive Landscape, Region
The increase in demand for emission monitoring & the effectiveness of tracking &management capabilities drive the emission management software market growth.
PORTLAND, PORTLAND, OR, UNITED STATES, February 26, 2024 /EINPresswire.com/ — According to the report published by Allied Market Research, the global emission management software market generated $10.4 billion in 2020 and is estimated to reach $43.6 billion by 2030, witnessing a CAGR of 15.7% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
An increase in demand for emission monitoring and effectiveness of tracking and management capabilities drives the growth of the global emission management software market. However, high costs incurred in management and installation hinder the market growth. On the other hand, focusing on the implementation of sustainability solutions presents new opportunities in the coming years.
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The “Emission Management Software Market” refers to the sector of software solutions designed to help organizations monitor, measure, control, and report their emissions of greenhouse gases (GHGs) and other pollutants. These software tools are developed to assist businesses, industries, and governments in managing their environmental impact and complying with regulations related to emissions.
The growing demand for emissions management software markets will drive growth within North America, owing to the immense focus on the carbon reduction policy adopted by the U.S. government. North America is predicted to dominate emission management software market trends due to rapid digital transformation. The market in North America is predicted to achieve a higher market share during the forecast period, due to the increasing adoption of cloud-based emissions management by varied industries.
Moreover, the increasing adoption of technology and rising demand for clean and renewable energy are projected to boost the market growth. Government initiatives to decrease energy emissions from several old and public buildings also are boosting the market demand. As an example, the U.S. General Services Administration made a contract with IBM Corporation to put in efficient and smart building technologies in 50 of the state and federal government’s highest energy-consuming buildings.
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Covid-19 Scenario:
• Owing to the lockdown imposed by governments in many countries and the unavailability of the workforce, manufacturing factories in many industries were closed down partially or completely. This impacted the demand for emission management software for real-time monitoring.
• Moreover, daily operations in the energy and power sector were disrupted and the demand for monitoring carbon emissions was reduced. This affected the demand for emission management software. However, the demand is expected to rise during the post-lockdown as daily operations get back on track.
Within the emission management software market analysis, the service segment is estimated to emerge as fastest growing segment, many institutions and organizations are multiplying their conservation efforts and gradually adopting measures that provide in-depth knowledge of greenhouse gases’ dynamics and impacts. Considering this context, the carbon footprint is one of the most widely recognized indicators in the international sphere. According to Eurostat’s latest information (February 2020), in 2018, the final consumption of electricity, gas, steam, and air-conditioning had an enormous carbon footprint (764 kg of CO2 per person) in the EU-27.
This is anticipated to increase the utilization of the carbon management system in this region. In May 2020, Döhler, a provider of technology-based natural ingredients, ingredient systems, and integrated solutions for the food and beverage industry, collaborated with SAP to run a co-innovation engagement to carry out a pilot project named Climate 21. As a part of the pilot program, the SAP Product Carbon Footprint Analytics was installed for its products.
According to Abhijith Nair, Research Analyst, ICT at Allied Market Research,” The growing demand for emissions management software markets will drive the growth within North America, owing to immense focus on the carbon reduction policy adopted by the U.S. government. North America is predicted to dominate emission management software market trends due to rapid digital transformation. The market in North America is predicted to achieve higher market share during the forecast period, due to increasing adoption of cloud-based emissions management by varied industries.
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Moreover, increasing adoption of technology and rising demand for clean and renewable energy are projected to boost the market growth. Government initiatives to decrease energy emissions from several old and public buildings also are boosting the market demand. As an example, the U.S. General Services Administration made a contract with IBM Corporation to put in efficient and smart building technologies in 50 of the state and federal government’s highest energy-consuming buildings.
Leading players of the global emission management software market analyzed in the research include Accenture, CA, Inc., Enviance, Carbonetworks, Greenstone Carbon Management, Foresite Systems, IBM, Hara, SAP, and Symantec.
Key Benefits for Stakeholders:
• The study provides an in-depth analysis of the emission management software market growth along with current trends and future estimations to elucidate imminent investment pockets.
• Information about key drivers, restraints, and opportunities and their impact analysis on the emission management software market size is provided in the report.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of emission management software forecast for the period 2020-2030 is provided to determine the emission management software market opportunity.
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