Sustainability Management Software Market: 11.11% Y-O-Y Growth Rate in 2022 | By Deployment and Region | Global Forecast to 2026

Highlights-

• Segmentation- The report extensively covers market segmentation by Deployment (cloud and on-premises)
• Key Companies- Accruent, Diligent Corp., ENGIE SA, Figbytes Inc., IBM Corp., SAP SE, Schneider Electric SE, Sphera Solutions Inc., Urjanet Inc., and Wolters Kluwer NV among others.
• Driver- Shift toward green initiatives to drive the market.
• Challenge- Integration issues with ERP solutions to hamper the market growth

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Segmentation by Deployment (In-Scope/Out-of-Scope)

• In-Scope:
• Cloud:

The sustainability management software market share growth by the cloud segment will be significant during the forecast period. The global sustainability management software market is undergoing a technological shift, driven by the advent of cloud computing. Users are moving toward cloud-based sustainability management software because it helps reduce the use of energy, and businesses can reduce their energy costs by 80%-85%. Small and medium enterprises (SMEs) are widely adopting cloud-based software solutions, as the shift to the cloud unlocks new opportunities such as clean energy transitions, which, in turn, is expected to contribute to the growth of the sustainability management software market during the forecast period.

• Out-of-Scope:
• On-premises

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Vendor Insights-

The sustainability management software market is concentrated and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

• Accruent- The company offers sustainability management software to decrease compliance risks, manage energy consumption and spend and monitor utilities and track refrigerant across many locations.
• Diligent Corp.- The company offers sustainability management software namely Accuvio Sustainability Reporting software.
• ENGIE SA- The company offers sustainability management software namely Zero Carbon Platform through its brand ENGIE Impact.      

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Learn More about Key Driver & Challenge of the Market-

• Sustainability Management Software Market Driver:
• Shift toward green initiatives:

The shift toward green initiatives will be one of the driving factors for the sustainability management software market growth. Green energy is considered to be the most effective method of countering the challenges of greenhouse gas (GHG) emissions. Green energy generation involves the use of renewable resources as raw materials for energy generation. Sustainability management software provides a detailed report on the amount of CO2 generated per unit of productions. It helps reduce GHG emissions by allowing users to monitor, measure, plan, store, and report carbon emission data in organizations. Several industries are adopting sustainability management software, which is driving the growth of the market in focus.

• Sustainability Management Software Market Challenge:
• Integration issues with ERP solutions:

Integration issues with ERP solutions are key challenges for the sustainability management software market growth. Carbon emissions are involved in nearly every operational activity of an enterprise, greater benefits of sustainability management software can be achieved by integrating the software with the enterprise resource planning system of the organization. However, this poses integration challenges, as the IT infrastructure of a company may not support the sustainability management software and, therefore, defeat its purpose. It can be difficult and costly to integrate sustainability management applications that have not been designed to integrate with other platforms. Hence, the integration issues with ERP solutions are a major impediment to the growth of the global sustainability management software market.

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