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USD 43.6 Billion Emission Management Software Market Reach by 2030
The global emission management software market size was valued at USD 10.4 billion in 2020, and is projected to reach USD 43.6 billion by 2030, registering a CAGR of 15.7% from 2021 to 2030.
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An increase in demand for emission monitoring and effectiveness of tracking and management capabilities drive the growth of the global emission management software market. However, the high costs incurred in management and installation hinder market growth. On the other hand, focusing on the implementation of sustainability solutions presents new opportunities in the coming years.
The emission management software market is segmented on the basis of component, software, services and industry. Based on component, the market is segmented into software and services, while on the basis of component the market is segmented into data management, asset performance optimization, application platform, forecasting analytics, and dashboard tools. Based on service, the market is segmented into consulting and training and support and maintenance. Based on industry, the market is segmented into manufacturing, IT and telecom, government sector, energy and power, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.
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Based on industry, the manufacturing segment contributed to the highest share in 2020, holding more than one-third of the global emission management software market, and is projected to maintain its leadership status during the forecast period. However, the government sector segment is expected to manifest the fastest CAGR of 17.0% from 2021 to 2030.
Based on components, the software segment accounted for the highest share in 2020, contributed more than four-fifths of the total share, and is estimated to continue its lead position during the forecast period. However, the services segment is projected to portray the highest CAGR of 17.5% from 2021 to 2030.
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Based on region, North America held the highest share in 2020, accounting for more than two-fifths of the total share and is estimated to maintain its dominance in terms of revenue by 2030. However, Asia-Pacific is projected to witness the fastest CAGR of 17.3% during the forecast period.
Leading players of the global emission management software market analyzed in the research include Enviance, Carbonetworks, Greenstone Carbon Management, Foresite Systems, IBM, Hara, SAP, and Symantec.
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Covid-19 Scenario:
• Owing to the lockdown imposed by governments in many countries and the unavailability of the workforce, manufacturing factories in many industries were closed partially or completely. This impacted on the demand for emission management software for real-time monitoring.
• Moreover, daily operations in the energy and power sector were disrupted and the demand for monitoring carbon emissions was reduced. This affected the demand for emission management software. However, the demand is expected to rise during the post-lockdown as daily operations get back on track.
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