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Emission Management Software Market: Growth Trends, Industry Analysis, Size, and Share Forecast
Emission Management Software Global Market Report 2024
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According to The Business Research Company's, The emission management software market size has grown exponentially in recent years. It will grow from $17.59 billion in 2023 to $21.13 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. The growth in the historic period can be attributed to environmental regulations compliance, corporate social responsibility (csr) initiatives, globalization and supply chain impact, energy efficiency goals, industry-specific emission standards, transition to green and sustainable practices, integration with energy management systems.
The emission management software market size is expected to see exponential growth in the next few years. It will grow to $44.26 billion in 2028 at a compound annual growth rate (CAGR) of 20.3%. The growth in the forecast period can be attributed to stricter emission reduction targets, shift towards net-zero goals, increasing focus on scope 3 emissions, regulatory push for transparent reporting, efficiency in compliance reporting, improving data accuracy and reporting, focus on resilience and adaptation. Major trends in the forecast period include carbon footprint management, transition to cloud-based solutions, mobile emission monitoring, lifecycle assessment tools, emission trading platforms integration, scenario analysis and modeling, collaboration with sustainability initiatives, iot and sensor technologies.
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Market Drivers and Trends:
The increase in environmental concerns is expected to propel the growth of the emission management software market going forward. Environmental concerns refer to issues, challenges, or worries related to the state and well-being of the natural environment. Environmental concerns drive innovation in emission management technology. Emission management software plays a crucial role in addressing environmental concerns by providing organizations with a comprehensive suite of tools to track, analyze, and reduce their emissions. For instance, in October 2023, according to the Office for National Statistics, a UK-based government body, the greenhouse gas (GHG) emissions of the United Kingdom per resident rose by 2% in 2022 compared to 2021. Therefore, the increase in environmental concerns is driving the growth of the emission management software market.
Major companies operating in the emission management software market are innovating new technologies such as CERius to increase their profitability in the market. CERius is a carbon emissions management software. For instance, in September 2023, GE Vernov, a US-based electrical company launched CERius. The software's functions include automating the gathering of greenhouse gas (GHG) data and offering practical suggestions for carrying out initiatives to reduce carbon emissions. It is designed to make it possible for businesses to monitor, manage, and operationalize certain insights more precisely-a necessary tool for keeping track of carbon neutral emissions targets. The program offers scenario analysis, team collaboration, and standardized reporting based on GHG protocols. It is intended to automate more accurate GHG data collecting and provide suggestions to operationalize carbon reduction activities.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
CA Technologies Inc., Carbonetworks Corporation, Enviance Inc., The International Business Machines Corporation, Greenstone Ltd., Hara Software Inc., SAP SE, Cority Software Inc., NortonLifeLock Inc., General Electric Company, Mitsubishi Hitachi Power Systems Ltd., Johnson Matthey PLC, Ducon Technologies Inc., Babcock & Wilcox Co., Accuvio Software, Arolytics, Lakes Environmental Software, EcoAct, The Carbon Trust, Clear Blue Environmental, Dakota Software Corporation, Ecometrica, StarTex Software LLC, Enablon Corp., Envirosoft Corporation, FLINTpro, Benchmark Digital Partners LLC, Intelex Technologies Inc., IsoMetrix Software
Emission Management Software Market 2024 Key Insights:
• The emission management software market size is expected to see exponential growth in the next few years. It will grow to $44.26 billion in 2028 at a compound annual growth rate (CAGR) of 20.3%.
• Growing Demand For Clean And Renewable Energy Drives Emission Management Software Market Growth
• Innovating Carbon Emissions Management Software In Emission Management Market
• North America was the largest region in the emission management software market in 2023
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