Press release
By the end of 2024, the Market for Sustainability and Energy Management Software will have grown at a CAGR of 10.8%
Sustainability and Energy Management Software Market
The following are some of the factors fueling the growth in demand for such software, according to a research on the global market for sustainability & energy management software that Persistence Market Research has published:
Leading businesses in a variety of sectors are investing in the development of such software to increase profit margins through better management of natural resources, a higher return on investment, and lower operational costs.
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Developers are improving their offerings through intrinsic reformations and tailored deliveries as more businesses become aware of the advantages of sustainability and energy management software, assisting businesses in implementing sustainability and energy management programmes in compliance with regulatory requirements and industry standards.
To capitalise on potential earnings from big data analytics, cloud computing, remote connectivity, mobility, and other emerging technologies, vendors are implementing sustainability and energy management software.
The report estimates that the US$ 753.3 Mn market for sustainability & energy management software will expand across the globe at 10.8% CAGR to bringing in a little over US$ 1,700 Mn by the end of 2024. During this eight-year forecast period, above factors will instrument an impressive revenue growth for the global sustainability & energy management software market.
Company Profiles:
IBM Corp. (TRIRIGA)
Schneider Electric
SAP SE
ICONICS, Inc.
Urjanet
Thinkstep
Enablon
Accuvio
CA Technologies
UL EHS Sustainability
Verisae, Inc.
Ecova, Inc.
Envizi
Gensuite LLC
Figbytes Inc.
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In the report, titled "Sustainability & Energy Management Software Market: Global Industry Analysis and Forecast, 2016-2024," North America has been currently observed as the largest sustainability & energy management software market in the world. Although, towards the latter half of the forecast period, the region will lose out its global dominance for sustainability & energy management software to Europe. With more than one-third share, Europe's sustainability & energy management software market will be at the forefront, replacing North America as dominant region.
Through 2024, even Europe is likely to be outpaced by rampant adoption of sustainability & energy management software in Asia-Pacific. The report expects that the Asia-Pacific sustainability & energy management software market will soar at 13.4% CAGR throughout the forecast period.
The report has also profiled companies globally-prominent for developing sustainability & energy management software, which include Schneider Electric, IBM Corporation, SAP SE, CA Technologies, Verisae, Inc., Thinkstep, Urjanet, UL EHS Sustainability, Accuvio, Ecova Inc., FigBytes Inc., ENVIZI, Gensuite LLC, Enablon and ICONICS, Inc.
The report further reveals that the global sustainability & energy management software market will remain split between on-premise and cloud-based software. In 2017, on-premise sustainability & energy management software will be in great demand, but will lose out to cloud-based software by the end of 2024.
Cloud-based sustainability & energy management software are projected to account for more than half of global market revenues, towards the end of the forecast period. Automotive, building automation, utilities & energy, and oil & gas are noted as the most lucrative end-use industries for sustainability & energy management software.
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Collectively, these four end-use applications of sustainability & energy management software will register revenue growth at more than 11% CAGR. Likewise, carbon reporting & management modules in sustainability & energy management software will remain in great demand. Demand for software with sustainability reporting module is also expected to grow over the years, and is anticipated to exhibit highest revenue growth at 13.4% CAGR.
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Expert analysis, actionable insights, and strategic recommendations - the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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