Press release
Sustainability and Energy Management Software Market Size is Expected to Growth $2.48 Billion By 2028 at a CAGR of 12.7% within the Forecast Period 2024-2033
Sustainability and Energy Management Software Market Report
The Business Research Company presents an extensive market research report on the Sustainability and Energy Management Software Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The sustainability and energy management software market size has grown rapidly in recent years. It will grow from $1.35 billion in 2023 to $1.54 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The growth in the historic period can be attributed to corporate sustainability initiatives, regulatory compliance requirements, energy cost savings, growing awareness of climate change.
The sustainability and energy management software market size is expected to see rapid growth in the next few years. It will grow to $2.48 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to demand for transparency and reporting, increasing investor and consumer focus on sustainability, supply chain sustainability management, evolving esg (environmental, social, and governance) standards. Major trends in the forecast period include decision-making through data analytics, transparency and stakeholder communicatio, sustainability in supply chains, renewable energy integration, digitalization and iot integration..
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Key Market Players:
Major companies operating in the sustainability and energy management software market report are Accuvio lnc., Ecova Inc., Enablon North America Corp., Envizi Pty Ltd., Figbytes Inc., Gensuite LLC, International Business Machines Corporation, ICONICS Inc., SAP SE, Schneider Electric SE, UL EHS Sustainability, British Energy Saving Technology, LogicLadder Technologies Pvt.Ltd., Syam Software Inc., Urjanet Energy Solutions Pvt Ltd, Verisae, CA Technologies Inc., Thinkstep, Siemens AG, Johnson Controls International plc, Honeywell International Inc., Eaton Corporation plc, General Electric Company, Rockwell Automation Inc., Emerson Electric Co., OSIsoft LLC, Yokogawa Electric Corporation, Mitsubishi Electric Corporation, IntegrityNext, EHS Insight, SmartHead, VelocityEHS
Market Drivers:
The increase in investments in environment, health & safety (EH&S), and sustainability software is a key factor for driving the sustainability and energy management software market. Energy management software facilitates the reduction of energy expenses and use. It is used to maximize energy efficiency and sustainability, and energy management software can aid cost reduction, carbon footprint reduction, and quality energy enhancement. For instance, in February 2022, ArcelorMittal, a Europe-based steel manufacturing corporation, announced a €1.7 billion ($1.8 billion) investment program by 2030 at its French steelmaking operations in Fos-sur-Mer and Dunkirk, with help from the French government while retaining equal production capacities. This investment would enable a dramatic transformation of steelmaking in France and a total decrease of ArcelorMittal's CO2 emissions in France of close to 40%, or 7.8 million tonnes per year, by 2030. This transition will result in a 10% reduction in greenhouse gas emissions from France's manufacturing industry. Therefore, an increase in investment in environment, health and safety and sustainability software will drive the sustainability and energy management software.
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https://www.thebusinessresearchcompany.com/report/sustainability-and-energy-management-software-global-market-report
The sustainability and energy management software market covered in this report is segmented -
1) By Software: Cloud based, On-Premise
2) By Module: Utility data management, Carbon reporting & management, Sustainability reporting & management, Energy Optimization, Facility and asset Management, Compliance Management
3) By End User: Automotive, Construction, Manufacturing, Oil and Gas, Pharmaceutical, Utilities and Energy
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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