Carbon Footprint Management Market Forecast to Surpass $30.8 billion by 2028 with a CAGR of 22.2%

According to a research report "Carbon Footprint Management Market Component (Solutions, and Services), Deployment Mode (On-premises, and Cloud), Organization Size (Corporates/Enterprises, Mid-Tier Enterprises, Small Businesses), Vertical & Region - Global Forecast to 2028" published by MarketsandMarkets, the global carbon footprint management market is estimated to grow at a CAGR 22.2% between 2023 to 2028 to reach a market size of USD 30.8 billion by 2028, from an estimated USD 11.3 billion in 2023.

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Implementation of COP27 targets to restrict global warming and an increase in demand for energy consumption by industries are expected to propel the growth of the global carbon footprint management market. Moreover, the swelling demand for energy consumption by industries is also positively impacting the growth of the carbon footprint management market.

Partnerships and product launches are among the key growth strategies adopted by leading companies such as Schneider Electric (France), SAP (Germany), IBM (US), Salesforce (US), and ENGIE (France) to boost their position in the carbon footprint management market. The other companies in the carbon footprint management market focus majorly on acquisitions, partnerships, product launches, collaborations, and expansions to grab a strong foothold in the market.

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This research report categorizes the carbon footprint management market based on Component, Deployment Mode, Organization Size, Vertical, and Region.
Based on Component, the carbon footprint management market has been segmented as follows:

Solutions
Services
Consulting
Integration & Deployment
Support & Maintenance

Based on deployment mode, the carbon footprint management market has been segmented as follows:

Cloud
On-premises

Based on organization size, the carbon footprint management market has been segmented as follows:

Corporates/Enterprises
Mid-Tier Enterprises
Small Businesses

Based on vertical, the carbon footprint management market has been segmented as follows:

Manufacturing
Food & Beverages
Metals & Mining
Chemical & Materials
Electronics & Consumer Goods
Automotive
Pharmaceutical & Healthcare
Others
Energy and Utilities
Residential and Commercial Buildings
Transportation and Logistics
IT and Telecom
Financial Servies
Government

Based on region, the carbon footprint management market has been segmented as follows:

North America
Europe
Asia Pacific
Middle East & Africa
South America

North America is expected to dominate the carbon footprint management market

North America held a dominant position in the carbon footprint management market industry in 2022, and is expected to continue to do so throughout the forecast period as a result of the region's proactive efforts to reduce the effects of climate change. In line with this, the region has set strong NDC targets and enacted binding ESG disclosure regulations. Carbon footprint management solutions are expected to see considerable growth over the next few years.

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Recent Developments

In February 2023, Enablon and Makersite announced strategic collaboration to help enterprises reach ESG goals. The two industry leaders will help organizations manage Net Zero ambitions through decarbonizing supply chains. This involves data collection, modeling, reporting, planning, forecasting, and operational execution across all three Scopes of greenhouse gas (GHG) emissions.
In September 2022, Enviance acquired an ESG performance software platform and consultancy, Reporting 21. The Reporting 21 solution will be incorporated into Enviance/Cority's Sustainability Cloud to better support customers in managing, reporting, and actioning their sustainability and ESG initiatives.
In July 2022, Trinity Consultants acquired an aquatic environmental consulting firm, Ecofish Research. This acquisition brings Trinity's water ecology and aquatic sciences consulting service teams to approximately 250 professionals, with the ability to deliver a wide range of water ecology-related services.

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