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Sustainability and Energy Management Software Market Report 2024: Growth, Trends, Forecast 2033
Sustainability and Energy Management Software Market Report
As per the report, 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 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%.
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Rising Investments In Eh&S And Sustainability Initiatives Drive Growth In The Sustainability Software Market
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.
Product Innovations Transforming The Sustainability And Energy Management Software Market
Major companies operating in the sustainability and energy management software market are developing advanced energy storage software platforms to gain a competitive edge in the market. For instance, in September 2023, FlexGen Power Systems, Inc., a US-based energy storage technology company launched the HybridOS 11, the latest version of its energy management software platform. HybridOS 11 introduces advanced features aimed at enhancing the user experience, ensuring system stability, and providing greater control over site operations for energy storage asset owners and operators. Key features include an Enhanced User Interface with a Dark Mode option, Scheduler Mode Upgrade for improved event scheduling, Constant Power Factor and Reactive Power POI Limits for comprehensive control, and a Performance Index offering a quick overview of site operations. The platform also introduces a Digital Twin, a cloud-based simulation using machine learning to calculate expected site performance.
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
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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
Contents of the report:
1. Executive Summary
2. Sustainability and Energy Management Software Market Report Structure
3. Sustainability and Energy Management Software Market Trends And Strategies
4. Sustainability and Energy Management Software Market - Macro Economic Scenario
5. Sustainability and Energy Management Software Market Size And Growth
…..
27. Sustainability and Energy Management Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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