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Carbon Footprint Management Strategies: Global Industry Report 2024
Carbon Footprint Management Market Research
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According to The Business Research Company's, The carbon footprint management market size has grown strongly in recent years. It will grow from $9.65 billion in 2023 to $10.18 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to increase in demand for energy consumption, rising pollution rates, increasing vehicle sales and increasing emissions from aviation.
The carbon footprint management market size is expected to see strong growth in the next few years. It will grow to $12.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to government support, implementation of cop26 to limit global warming and steadily expanding construction and infrastructure. Major trends in the forecast period include leveraging ai to accurately monitor and predict emissions, focus on new technological solutions to stay competitive in the market, leveraging blockchain technology to improve carbon traceability and focusing on partnerships and collaborations to develop new technologies.
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Market Drivers and Trends:
The introduction of various carbon emission policies by governments in carbon footprint management is expected to propel the growth of the carbon footprint management market. Governments across the world have taken various initiatives to reduce carbon footprint and pollution. For instance, in May 2021, the German government set new targets to reduce its carbon footprint. Under the new targets, Germany will aim for a 65%, 88%, and nearly 0% net carbon emission by 2030, 2040, and 2045 respectively. As a result, organizations have been instructed by governments to follow the norms and regulations. The adherence requirements for reducing carbon footprint would result in a growth in the demand for carbon footprint management systems as it assists organizations in identifying avenues for reducing their carbon footprint.
The rising focus on enterprise sustainability among organizations is a key trend gaining popularity in the carbon emission management market. Major companies operating in the carbon emission management sector are focused on launching new products to meet the rising market demand for regulating their carbon emission. For instance, in June 2021, a France-based information technology services and consulting company, Capgemini, launched Sustainable IT, an offering designed to assist IT companies in reducing their carbon footprint. The new offering is meant to support clients on their sustainability journey through its technical expertise, customized approach, and strong partner ecosystem using Capgemini's global sustainability offering framework.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• 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:
F. Hoffmann-La Roche Ltd, Danaher Corporation, Siemens Healthineers AG, Werfen, Abbott Laboratories, Medica Corporation, EDAN Instruments Inc, Radiometer Medical, Nova Biomedical, OPTI Medical systems Inc, I Sens Inc, JOKOH CO. LTD, Prolong Medical Equipment Co. Ltd, Sensa Core Medical Instrumentation Pvt. Ltd, Hunan Rainbow Technology Co. Ltd, ERBA Mannheim, EKF Diagnostics, Roche Diagnostics, Grifols, Vygon SAS, Biofidus, KwertyMed, Instrumentation Laboratory Company, Becton Dickinson and Co, Microbiology E.A Ltd.
Carbon Footprint Management Market 2024 Key Insights:
• The carbon footprint management market size is expected to see strong growth in the next few years. It will grow to $12.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Governments' Carbon Emission Policies Fuel Growth In The Carbon Footprint Management Market
• Companies Drive Growth In Carbon Emission Management Market Through Innovative Solutions
• North America was the largest region in the carbon footprint management market in 2023
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