Players In The Carbon Footprint Management Market Are Using Blockchain Technology To Improve Carbon Traceability: The Business Research Company

News provided by

Oct 31, 2022, 11:20 ET

The reports have been updated with the most recent Ukraine-Russia War impact on market growth for all 27+ industries. The reports also provide possible solutions and opportunities for surviving this crisis.

LONDON, Oct. 31, 2022 /PRNewswire/ -- Among the carbon footprint management market trends blockchain technology is gaining traction. Service providers in the carbon footprint management market are increasingly using blockchain technology to improve carbon traceability. Blockchain technology helps to track and analyze energy consumption data in real-time. In March 2022, VeChain Foundation, a blockchain technology provider, announced a partnership with Amazon Web Services (AWS), a US-based provider of cloud-computing services, to support the VeCarbon platform. The platform will merge blockchain with a carbon-neutral digital infrastructure and help companies to manage their carbon footprint and emission targets.

The global carbon footprint management market size is expected to grow from $7.76 billion in 2020 to $8.63 billion in 2021 at a compound annual growth rate (CAGR) of 11.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The carbon footprint management market share is expected to reach $11.50 billion in 2025 at a CAGR of 7.4%.

Request a free sample of the Carbon Footprint Management Market Report

Data Security Concerns Inhibit Carbon Footprint Management Market Growth

The implementation of the United Nations Climate Change Conference, more commonly referred to as COP26 is expected to drive the carbon footprint management market. To accelerate adoption, 5 billion tons of carbon dioxide must be removed from the atmosphere by 2050. According to the World Energy Outlook-2021 which was published in mid-October 2021, more than 120 countries announced new targets for emissions reductions by 2030, and governments representing about 70% of global carbon dioxide (CO2) emissions had pledged to bring those emissions to net zero by 2050.

Carbon Footprint Management Market Trends- Increasing Acceptance Of Telemedicine

IBM Corporation was the largest competitor in the carbon footprint management market in 2021, with a 14.39% share of the market. IBM Corporation strategy is focused on launching new technologies to help businesses address sustainability objectives and climate risk. For instance, in October 2021, IBM announced a suite of environmental intelligence software that leverages AI to help organizations prepare for and respond to weather and climate risks that may disrupt business, more easily assess their own impact on the planet, and reduce the complexity of regulatory compliance and reporting.

Carbon Footprint Management Market Players

Major players in the carbon footprint management market are Accuvio, Carbon EMS, Enviance, EnergyCAP LLC, ENGIE Impact, Envirosoft Corporation, Intelex Technologies Inc., IsoMetrix Software, Locus Technologies, NativeEnergy Inc., SAP SE, Johnson Controls, Accenture PLC, IBM Corporation, Schneider Electric S.E., Natural Capital Partners, VelocityEHS, and Carbon Trust.

See more on the Carbon Footprint Management Market Report

Check out similar market reports:

Carbon Capture, Utilization, And Storage Market 2022 – By Technology (Pre Combustion, Post Combustion, Oxy Fuel Combustion), By Services (Capture, Transportation, Utilization, Storage), By End-Use Industry (Oil & Gas, Power Generation, Iron And Steel, Chemical And Petrochemical, Cement, Other End-Use Industries), And By Region, Opportunities And Strategies – Global Forecast To 2031

Environment Management, Compliance And Due Diligence Global Market Report 2022 - By Service Type (Environment Management Services, Environment Compliance Services, Environment Due Diligence Services), By End-Users (Mining, Manufacturing And Process Industries, Energy And Utilities, Government And Regulators, Infrastructure And Development), By Applications Can Be Divided Into (Government, Utilities) - Market Size, Trends, And Global Forecast 2022 - 2026

Environmental Consulting Services Global Market Report 2022 - By Type (Site Remediation Consulting Services, Other Environmental Consulting Services, Water And Waste Management Consulting Services, Environment Management, Compliance And Due Diligence), By End Users (Mining, Manufacturing & Process Industries, Energy & Utilities, Government & Regulators, Infrastructure & Development, Others), By Service Provider (Large Enterprise, Small And Medium Enterprise) - Market Size, Trends, And Global Forecast 2022 - 2026

Interested to know more about The Business Research Company?

The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally, it has strategy enablement specialists in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

The World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

Contact Information

The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: [email protected]
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: http://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/