Press release
The Sustainability and Energy Management Software Market: An Outlook to 2025
Sustainability and Energy Management Software Global Market Size
What Is The Projected Market Size Of The Global Sustainability and Energy Management Software Market And Its Growth Rate?
- The market size for sustainability and energy management software has experienced dynamic growth lately. The market, worth $1.5 billion in 2024, is projected to grow to $1.69 billion in 2025 at a compound annual growth rate (CAGR) of 12.6%.
- This remarkable growth is primarily due to corporate sustainability initiatives, regulatory compliance necessities, energy cost savings, and increasing awareness of climate change.
- Moreover, the sustainability and energy management software market is anticipated to rise spectacularly in the upcoming years, reaching a size of $2.82 billion in 2029 with a CAGR of 13.6%.
- The growth in the forecast period can be associated with the demand for transparency and reporting, the amplifying focus of investors and consumers on sustainability, the management of sustainable supply chains, evolving ESG norms, and new trends including data analytics in decision-making, transparency in stakeholder communication, the integration of renewable energy, digitalization, and IoT integration.
What Is Driving The Growth In The Sustainability and Energy Management Software Market?
The enhancement in investments for eco-friendly health and safety (EH&S) solutions, alongside sustainability software, is among the key factors propelling the sustainability and energy management software market. These software aids in the reduction of energy use and expenditure, making them an instrumental tool for companies looking for energy efficiency and sustainability. As an instance, ArcelorMittal, a European steel manufacturing corporation, announced a stupendous investment program worth $1.8 billion by 2030 at its French steelmaking operations in February 2022. This ambitious program aims to decrease ArcelorMittal's CO2 emissions in France by nearly 40%, or 7.8 million tons every year, leading to a 10% reduction in greenhouse gas emissions from the country's manufacturing sector. Therefore, an escalation in investments in the environment, health, and safety, and sustainability software is expected to boost the sustainability and energy management software market in the future.
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Who Are The Key Players Driving The Sustainability And Energy Management Software Market Growth?
The key companies driving the market growth include
- 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, and many more.
What Are The Key Trends In The Sustainability and Energy Management Software Market?
The leading trends in this market involve:
- Implementation of data analytics in decision-making
- Enhancing stakeholder communication through transparency
- The incorporation of sustainability in supply chains
- The integration of renewable energy, and
- Digitalization and the implementation of Internet of Things (IoT).
What Are The Segments Of The Global Sustainability and Energy Management Software Market?
The market is segmented by:
1) Software: Cloud Based, On-Premise.
2) Module: Utility Data Management, Carbon Reporting And Management, Sustainability Reporting And Management, Energy Optimization, Facility And Asset Management, Compliance Management.
3) End User: Automotive, Construction, Manufacturing, Oil And Gas, Pharmaceutical, Utilities And Energy.
Which Region Leads The Sustainability and Energy Management Software Market?
North America, being the largest region in the sustainability and energy management software Market in 2024, holds the leadership position. However, other regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa are also included in the market report for a comprehensive overview.
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What Is Covered In The Sustainability and Energy Management Software Global Market Report?
- Market Size Analysis: Analyze the Sustainability and Energy Management Software Global Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Sustainability and Energy Management Software Global Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Sustainability and Energy Management Software Global Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Sustainability and Energy Management Software Global Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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