ESG Reporting Software Market Report on the Untapped Growth Opportunities in the Industry

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global ESG Reporting Software Market- (By Component (Solutions, Services), By Deployment Type (On-premises, Cloud), By Organization Size (Large Enterprises, SMEs), By Vertical (BFSI, Government, Public Sector & Non-Profit, Retail)), Trends, Industry Competition Analysis, Revenue and Forecast To 2034."

According to the latest research by InsightAce Analytic, the Global ESG Reporting Software Market Size is valued at USD 0.91 Billion in 2024 and is predicted to reach USD 3.3 Billion by the year 2034 at a 14.0% CAGR during the forecast period for 2025-2034.

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Environmental, Social, and Governance (ESG) software refers to a digital platform offered through a Software-as-a-Service (SaaS) model that supports organizations in streamlining and enhancing their ESG initiatives. These platforms are designed to elevate corporate value and support informed investee selection by aligning with sustainable investment principles. ESG investing focuses on identifying and evaluating areas that reflect responsible, ethical, and sustainable business practices.

Capital market participants and institutional investors utilize ESG software to evaluate corporate conduct, enabling them to anticipate the long-term financial performance of organizations. By integrating ESG software into their operations, companies can effectively identify, mitigate, or eliminate risks associated with their business activities, assets, and investment portfolios. These platforms also enhance the investment evaluation process, thereby supporting more strategic and informed decision-making.

List of Prominent Players in the ESG reporting software market:
• Wolters Kluwer (Netherlands)
• Nasdaq (US)
• PwC (UK)
• Workiva (US)
• Refinitiv (UK)
• Diligent (US)
• Sphera (US)
• Cority (Canada)
• Intelex (Canada)
• Greenstone (UK)
• Novisto (Canada)
• Emex (Ireland)
• Enhelix (US)
• Anthesis (UK)
• Diginex (Hong Kong)
• Bain & Co. (US)
• Keramida (US)
• Isometrix (US)
• Accuvio (acquired by Diligent) (US)
• Others

Market Dynamics:
Drivers-
The increasing demand for digital substations is closely tied to the growing emphasis on Environmental, Social, and Governance (ESG) initiatives. An effective ESG program enhances brand visibility and fosters consumer loyalty. In today's market, consumers are increasingly inclined to engage with companies that demonstrate ethical practices and sustainability commitments. Research indicates that small and medium-sized enterprises (SMEs) that proactively address sustainability issues tend to attract a broader customer base. By implementing ESG strategies, these businesses not only strengthen their market position but also create long-term value.

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Challenges:
One of the primary challenges organizations encounter when developing ESG disclosures is effective data management. Many companies are now working to organize and structure their data to comply with voluntary reporting frameworks and emerging regulatory standards. However, ESG reporting remains inherently complex, often hindered by fragmented data sources, manual documentation processes, and lack of centralized systems. These obstacles can complicate the delivery of a comprehensive and accurate view of a company's ESG performance. Furthermore, the global COVID-19 pandemic adversely impacted business operations across multiple sectors due to supply chain disruptions, productivity losses, operational shutdowns, and evolving work environments.

Regional Trends:
North America is expected to hold a dominant position in the ESG reporting software market in terms of revenue, driven by strong product adoption and heightened awareness of environmental risks. Regulatory frameworks, such as those established by the Occupational Safety and Health Administration (OSHA) in the United States, have mandated ESG compliance across various industries including chemicals, materials, energy, and utilities. These regulations have significantly contributed to improving workplace safety and mitigating operational risks.

Recent Developments:
• In May 2023, Novisto raised $20 million in a Series B funding round led by Inovia Capital and went well. Portage and SCOR Ventures put money into the round for the first time, and White Star Capital and Diagram Ventures also put money in. Novisto used these funds to speed up the creation of new products and its market growth.
• In March 2023, PwC and Sphera joined forces to hasten the expansion of their market leading ESG management platform. By combining their technology and strategy consulting strengths, Sphera and PwC hope to rapidly grow their customer base, increase adoption of the Sphera platform's features, and build a more robust ESG digital ecosystem for their clients.

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Segmentation of ESG reporting software market-
By Component-
• Solutions
• Services
By Deployment Type-
• On-premises
• Cloud
By Organization Size-
• Large Enterprises
• SMEs
By Vertical-
• Banking, Financial Services, and insurance
• IT and ITeS
• Government and Public Sector
• Manufacturing
• Retail and Consumer Goods
• Healthcare and Life Sciences
• Energy and Utilities
• Other Verticals
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.

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