ESG Reporting Software Market Analysis And Trends By Segmentations, Top Key Players, Geographical Expansion, Future Development & Forecast -2029

ESG Reporting Software Market by Offering (Software and Services), Deployment Type (On-premises and Cloud), Organization Size (Large Enterprises and SMEs), Vertical (BFSI and Government, Public Sector, and Non-profit), & Region - Global Forecast to 2029.
The ESG reporting software market [https://www.marketsandmarkets.com/Market-Reports/esg-reporting-software-market-173110129.html?utm_campaign=paidpr&utm_source=abnewswire&utm_medium=referral] is expected to grow at a Compound Annual Growth Rate (CAGR) of 17.0% during the forecast period, from USD 0.9 billion in 2024 to USD 2.1 billion by 2029. The adoption of ESG reporting software is expected to be driven by increased regulatory requirements, growing investor and stakeholder demand for transparency, and the need for companies to manage and report on their sustainability and governance practices more effectively.

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By organization size, the large enterprise segment will hold the largest market size during the forecast period.

Organizations with more than 1,000 employees are categorized under the large enterprises segment. In large enterprises, ESG reporting software is a critical tool for managing and reporting sustainability issues in an orderly manner. These software programs provide large companies with comprehensive solutions for collecting, analyzing, and reporting huge volumes of ESG-related data from multiple sources. Through automatic data collection processes and offering advanced analytics tools, ESG reporting software assists large companies in tackling environmental damage, social activities, and good governance in real-time.

Also, the software provides ESG reporting capability for large enterprises to increase transparency and accountability to stakeholders, including investors, customers, and regulatory bodies, by providing them with detailed and accurate reports on their sustainability performance. By adopting sustainable practices, large-scale companies can enhance their reputation, minimize risks, and reinforce their competitive edge. The ESG reporting software is a precious tool for large companies as it helps them determine areas where they should improve, set relevant sustainability goals, and measure progress over time, which drives continuous improvement in their sustainability initiatives.

By Region, the Asia Pacific will grow at the highest growth rates during the forecast period.

The availability of software for ESG reporting has turned out to be a critical factor that strengthens the Asia Pacific companies' efforts to keep an eye on and handle their sustainability programs and performance. Particularly facing the rise in the importance of corporate social responsibility and sustainable business approaches, such software is now in ever more demand. These software solutions assist companies in data collection, analysis, and reporting of their operations' environmental and social impact; they also help meet regulatory expectations and fulfill stakeholder needs.

The Asia Pacific region ESG reporting software market, as well as industries, is different in each of the vertical markers. In sectors such as banking, manufacturing, and energy, many corporations implement ESG reporting systems pushed by regulators and investors, and there is a need for better business reputations. The tech and telecom sector is giving a nod to the fact that ESG reporting is becoming more obligatory for companies that appreciate sustainability and want to attract more socially responsive investors. Similarly, ESG-related programs in industries such as healthcare and consumer goods are witnessing a growing adoption of ESG reporting software as companies try to improve their sustainability practices and address consumers' and investors' expectations. Hence, Asia Pacific's ESG reporting software market is a growing industry spanning different sectors. However, the reasons for this growth are the undeniable importance of sustainability and corporate responsibility in business.

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Unique Features in the ESG Reporting Software Market

Companies may understand how various future events could affect their ESG performance by using the scenario modeling feature. A business might utilize scenario modeling, for instance, to determine how a change in climate policies might impact its carbon emissions.

Data collection and analysis are just two of the many ESG reporting-related processes that can be automated with artificial intelligence (AI). AI can also be used to find patterns and trends in ESG data that are hard for people to notice.

Distributed ledger technology, or blockchain, can be used to track and validate ESG data. This has the potential to raise the credibility and transparency of ESG reporting.

Sustainability accounting is an approach to accounting that considers how a company's operations affect society and the environment. Businesses may monitor and report on their sustainability accounting KPIs with the use of ESG reporting tools.

ERP and CRM systems, among other enterprise systems, can be integrated with ESG data integration software. This can enhance data accuracy and streamline the ESG reporting procedure.

Major Highlights of the ESG Reporting Software Market

Businesses may comply with the ever-changing ESG requirements and reporting frameworks by using ESG reporting software. Through thorough data analysis, it also assists in identifying and reducing ESG risks such as the effects of climate change, labor disputes, and supply chain disruptions.

Businesses are using this software to efficiently monitor and report on environmental impact, social responsibility programs, and governance standards in response to demands for transparency on sustainability efforts from investors and other stakeholders.

The data gathering, processing, and reporting processes for ESG measures are streamlined by these software programs. This helps businesses to define goals, monitor their progress toward those goals, and obtain insightful information about how they are doing in terms of sustainability.

Accuracy and data sharing are improved by integration with current enterprise systems, such as ERP and EHS platforms. Furthermore, functions that automate operations and save time and money include AI-powered data collecting and analysis.

Because of its strict laws and growing environmental awareness, North America is anticipated to have a large market share. Nonetheless, it is anticipated that the industry will expand significantly in other areas as well.

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Top Companies in the ESG Reporting Software Market

Major vendors in this market are in North America and Europe. Wolters Kluwer (Netherlands), Nasdaq(US), PWC(UK), Workiva(US), LSEG(UK), Greenstone(UK), Diligent(US), Sphera(US), Cority(Canada), and Intelex(Canada) are among the leading players operating in the ESG reporting software market. These players have adopted many growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, collaborations, mergers, acquisitions, and new product development activities to expand market presence.

Wolters Kluwer

Wolters Kluwer is a global leader in providing professional information, software solutions, and services across various sectors, including healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, and corporate performance and ESG. With operations in over 40 countries and serving customers in more than 180 countries, Wolters Kluwer employs approximately 20,000 professionals worldwide. The company's expertise is helping customers make critical decisions daily by offering expert solutions that blend deep domain knowledge with specialized technology and services. Specifically, in ESG, Wolters Kluwer provides software solutions designed to manage, deliver, and report auditable, accurate data that meets the demands of investors, regulators, and stakeholders. Their ESG performance and reporting solutions simplify the complexity of ESG reporting and disclosure, accelerate ESG strategies with accurate data collection and analysis, and uncover operational value to reduce costs and drive profit. With a focus on demystifying ESG requirements and helping organizations achieve sustainability goals, Wolters Kluwer enables its clients to navigate the evolving landscape of corporate responsibility with confidence and assurance.

LSEG

LSEG is a renowned stock exchange and financial information company based in the UK. It operates the London Stock Exchange and owns several subsidiaries, including Refinitiv, LSEG Technology, FTSE Russell, and most of its stakes in LCH and Tradeweb. LSEG specializes in market data, financial markets, innovation, commodities, and risk management, among other areas. In addition, LSEG has a strong focus on sustainable finance and investment, leveraging its expertise to enable sustainable growth. In 2021, LSEG acquired Refinitiv, a leading data and analytics firm, for Euros 500 million. This strategic move further solidified LSEG's position as a critical financial information industry player, enhancing its data management, analytics, and market infrastructure capabilities. It supports sustainable finance and investment initiatives, supporting the transition to a low-carbon economy and fostering sustainable economic growth. It mitigates climate risks, navigates sustainability regulations, and incorporates social factors into its business practices through ESG solutions.

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