Report Ocean presents a comprehensive research report on Carbon Footprint Management, analyzing markets in 150+ countries. With access to 1,00000+ annual reports, subject matter experts ensure accuracy. Methods like S.W.O.T., P.E.S.T.E.L., and regression analysis forecast growth. The report covers regulations, research tech, innovation, and future trends in Carbon Footprint Management.
The global carbon footprint management market size was US$ 9.1 billion in 2021. The global carbon footprint management market is projected to grow to US$ 16.2 billion by 2030 by growing at a compound annual growth rate (CAGR) of 7.1% during the study period from 2022 to 2030.
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COVID-19 Impact Analysis
The COVID-19 pandemic outbreak hindered the expansion of the global carbon footprint management market because of the pandemic-related limitations that were put in place at the time, including lockdowns, social distance standards, etc. As a result, there was a decrease in the need for carbon footprint management solutions at the time.
Factors Influencing the Market
Governments all around the world are carefully weighing the effects of fast industrialization and the unbalanced production of carbon, as these emissions do significant harm to human health. A carbon tax or a comparable measure, such as an energy tax, has already been enacted by a number of nations and local governments. In 2021, the Center for Climate and Energy Solutions, a non-profit American organization dedicated to environmental protection, reported that 35 carbon tax initiatives had already been put into place around the world. Moreover, various governments are enforcing strict tax rules and regulations on enterprises and industrial zones. For instance, South Africa became the first government in Africa to enact a carbon tax in May 2019. A tariff of $8.34 per tonne of carbon dioxide has been suggested by South Africa. Thus, such strict laws will significantly contribute to the growth of the carbon footprint management market during the analysis period.
The growing industrial sector is also driving the demand for energy. For instance, a report from the U.S. Energy Information Administration claims that the manufacturing sector accounted for more than 77% of the industrial sector’s energy use in the U.S. These elements will push governments to work on strategies to overcome pollution, thereby propelling the growth of the global carbon footprint management market.
Regional Analysis
Based on region, North America held the top spot in the market for managing carbon footprints in 2020, and is anticipated to continue to dominate throughout the forecast period due to aggressive efforts to reduce the effects of climate change. However, due to its rapid economic transformation and growing awareness of the region’s rising carbon emissions, Asia-Pacific is predicted to experience significant growth during the forecast period. It is owing to the rapidly expanding industrialization in the region and governments’ efforts to sustain industrialization in their respective countries. Moreover, authorities are also working on carbon footprint management, which will fuel the market’s growth during the analysis period.
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Competitors in the Market
Carbon Footprint Ltd.
Dakota Software Corporation
ENGIE
IsoMetrix
IBM Corporation
ProcessMAP
Schneider Electric
SAP
Wolters Kluwer N.V.
Other Prominent Players
Market Segmentation
The global carbon footprint management market segmentation focuses on Component, Deployment, Industry Vertical, and Region.
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
By Region
North America
The U.S.
Canada
Mexico
Europe
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Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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