Sustainability & Energy Management Software Market Analysis 2020: By Keyplayers BM Corp. (TRIRIGA), Figbytes Inc., Schneider Electric, Gensuite LLC, SAP SE, Envizi, ICONICS, Inc., Ecova, Inc. Urjanet, Verisae, Inc., Thinkstep, UL EHS Sustainability, Enabl

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Market Overview

Sustainability and energy management software a system database of information associated with financial data, energy, resources, and other important factors. These factors aid enterprises to monitor, analyze, and control operations. This software is designed to help enterprises enhance energy and sustainability business performance through automated data analysis, management, and reporting. Currently, enterprises are necessitated to monitor and analyze their performance in numerous ways. Sustainability & energy management software support increased use of software in operations, compliance with regulatory obligations, streamlining of processes, effective understanding of risks, overlapping reporting requirements, etc.

The global sustainability & energy management software market is estimated to account for US$ 2,326.2 Mn in terms of value by the end of 2027.

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Competitive Section

Key players operating in the global sustainability & energy management software market are IBM Corp. (TRIRIGA), Figbytes Inc., Schneider Electric, Gensuite LLC, SAP SE, Envizi, ICONICS, Inc., Ecova, Inc. Urjanet, Verisae, Inc., Thinkstep, UL EHS Sustainability, Enablon, Sphera, CA Technologies, and Accuvio.

Market Dynamics- Drivers

1. Increasing investments EH&S and sustainability software is expected to drive growth of the global sustainability & energy management software market during the forecast period

Major organizations in various sectors such as oil & gas exploration and production are focused on strategizing, in order to create value through sustainability. These organizations seek to improve returns on capital day by reducing operating costs via improved natural-resource management, in order to achieve this goal. Moreover, key organizations in the market are regularly revising their business portfolios, in order to determine the potential impact of trends to leverage new growth opportunities. For instance, in March 2016, ArcelorMittal, a multinational steel manufacturing corporation, incorporated sustainability in its organizational design through a department for scientific analyses of the life cycles of steel products.

2. Constant increase in regulatory obligations and industry guidelines are expected to propel the global sustainability & energy management software market growth over the forecast period

Major resource-focused industries use a large amount of water, raw materials, energy, and water resources. This, in turn, leads to a large number of emissions, solid waste, and effluents. Generally, these industries are subjected to various regulatory policies and norms. Furthermore, enterprises are focused on adopting sustainability management solutions in order to comply with strict regulatory policies. Therefore, these factors are expected to propel the global sustainability & energy management software market growth in the near future.

Market Opportunities

1. Growing adoption of cloud computing can present lucrative growth opportunities
Many sectors have started adopting cloud computing for various applications. However, its benefits still remain undervalued in the sustainability and energy management space. Cloud-based technology provides various benefits of updating and upgrading software in real-time, thereby allowing users to utilize data more efficiently. It can be adopted in enterprises to gain significant benefits such as robustness, scalability, reduced complexity, low cost, and granular level of visibility of sustainable information. Moreover, these solutions can help companies improve their performance, achieve greater return on investment, and generate more efficient reports.

2. Providing end-to-end customer experience can offer major business opportunities
SMEs are demanding software solutions that are sophisticated, convenient, and provide value-for-money. Thus, delivering different choices in options can create immense potential revenue opportunities for sustainability & energy management software vendors. Providing an end-to-end customer experience that complies with industry standards can offer major business opportunities for market players in the near future.

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Market Trends

1. Constant partnership and collaboration activities among major companies

Key players operating in the market are focused on partnerships and collaborations, in order to expand portfolio and gain a competitive edge in the market. For instance, in October 2016, Schneider Electric partnered with Panasonic Corporation, which is a developer electronics technologies and solutions, in order to simplify energy management with innovative integration and optimize building efficiency and installation costs. In February 2016, IBM Corporation partnered with Siemens Building Technologies Division and launched cloud-based building management platform leveraging enterprise asset management and data analytics technologies.

2. Increasing merger and acquisition activities is another trend

Major market players are involved in merger and acquisition activities, in order to enhance the market presence and gain a significant advantage. For instance, in 2016, Accruent acquired Verisae Inc., in order to improve its market reach and industry visibility. Furthermore, in 2016, Accruent acquired BigCenter (Business Integration Group, Inc.).

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