Carbon Accounting Software Market to record 22.43% Y-O-Y Growth Rate in 2021 | Carbon Analytics Ltd., CarbonetiX, and ENGIE SA to emerge as dominant players | Technavio

• Total Pages: 120
• Companies: 10+ including Carbon Analytics Ltd., CarbonetiX, ENGIE SA, Greenstep Oy, Intelex Technologies Inc., Lisam Systems SA, SAP SE, SIERRA ODC Pvt. Ltd., Simble Solutions Ltd., and Wolters Kluwer NV.
• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
• Segments: End-user (oil and gas, telecommunication, technology, power and utilities, and others)
• Geographies: APAC, North America, Europe, MEA, and South America

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According to the recent market study by Technavio, the Carbon Accounting Software Market Size is expected to increase by USD 6.38 billion from 2020 to 2025, with an accelerated CAGR of about 25%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

North America will register the highest growth rate of 37% among the other regions. The US is the key market for carbon accounting software in North America. However, the growth of the market in North America will be slower than the market growth in APAC and MEA.

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Vendor Insights-

The carbon accounting software market is fragmented. Vendors in the market are focusing on adopting growth strategies such as M&As to increase their market shares and gain a competitive advantage in the market. Vendors are also focusing on differentiating themselves based on service quality and product innovations.

Intelex Technologies Inc. – The company offers carbon accounting software under the brand name Air Emissions Management Software. In April 2021, the company announced a partnership with Industrial Scientific for worldwide availability of Intelex HazardIQ for iNet. The integrated solution brings together connected environmental monitoring, industrial hygiene, and seamless incident management to increase worker safety, improve productivity, and streamline operations.

Carbon Analytics Ltd. – The company offers carbon calculators and automated business carbon footprint assessment software.

CarbonetiX – The company offers carbon accounting software under the brand name CarbonMetriX. Some of the key offerings of the company include End-use Energy Analysis & Reporting, Voltage Optimization and Power Factor Correction, Carbon Accounting Software, Lighting Solutions, Carbon Offsets, Refrigerant de-fouling, Solar Solutions, Energy Efficient Fans, and Automatic Utility Bill Processing.

ENGIE SA – The company offers carbon accounting software under the brand name ENGIE Impact Energy and Sustainability Management Platform.

Greenstep Oy – The company offers carbon accounting software under the brand name Sustainability.

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Regional Market Outlook

The carbon accounting software market share growth in North America will be significant during the forecast period. Over the years, the carbon accounting software market in North America has witnessed steady growth with rising CO2 emissions and increasing focus on reducing carbon footprint by firms operating in the region. In addition, governments in the region are continuously updating their regulatory policies to control GHG emissions. For instance, under the Clean Air Act, the US has set targets for carbon emissions reductions. With this initiative, by 2050, the country is aiming to lower the emissions from the national electricity sector by 32%, which is lower than 2005 emission levels. Many such factors are fostering the growth of the carbon accounting software market in North America.

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Latest Drivers & Trends Driving the Market-

• Carbon Accounting Software Market Driver:
• Need to reduce the overall costs incurred by enterprises:

The growing awareness about the green concept is forcing enterprises to disclose their carbon emissions. The concept is also beneficial when deployed as it helps them reduce energy consumption and identify cost-saving opportunities. Carbon accounting software helps enterprises keep a check on energy consumption during a given period and identify business activities that use a lot of energy. This allows enterprises to lower direct energy costs and also address any inefficiencies in their operations. Such operational benefits are increasing the adoption of carbon accounting software among enterprises, thereby driving the market growth.

• Carbon Accounting Software Market Trend:
• Increasing government initiatives and regulations to reduce carbon emissions:

Growing concerns over GHG emissions are compelling governments across the world to undertake initiatives and formulate energy-related rules and regulations. This is forcing organizations to meet GHG emission regulatory requirements through carefully monitoring their emission levels. Moreover, the rising consumer demand for energy-efficient products is driving businesses to adopt carbon accounting software to cater to the growing demand. All these factors are positively influencing the growth of the global carbon accounting software market.

Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.

Here are Some Similar Topics-

Global Sustainability Management Software Market – Global sustainability management software market is segmented by deployment (cloud and on-premises) and geography (North America, Europe, APAC, South America, and MEA).
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Global Carbon Management Software Market – Global carbon management software market is segmented by geography (North America, Europe, APAC, South America, and MEA).
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