Environmental, Social And Governance (ESG) Reporting Software Market Outlook 2024 : Expected Market Growth Rate, Major Driver And Segments | Refinitiv LLC, Wolters Kluwer N.V., Nasdaq Inc., MSCI Inc., Workiva Inc., Diligent Corporation, Anthesis Group

"The esg reporting software market size has grown exponentially in recent years. It will grow from $0.98 billion in 2023 to $1.19 billion in 2024 at a compound annual growth rate (CAGR) of 20.8%. The growth in the historic period can be attributed to corporate social responsibility, stakeholder pressure, voluntary reporting initiatives, economic incentives, risk mitigation.

The esg reporting software market size is expected to see exponential growth in the next few years. It will grow to $2.55 billion in 2028 at a compound annual growth rate (CAGR) of 21.0%. The growth in the forecast period can be attributed to mandatory esg disclosure, esg integration in financial markets, supply chain transparency, ngo and activist influence, climate disclosure standards board (cdsb) framework adoption. Major trends in the forecast period include ai and analytics integration, cross-industry collaboration, green finance initiatives, blockchain for esg transparency, real-time esg reporting.

Market Overview -
ESG reporting software refers to a solution containing various modules and solutions focused on the environment, health, safety, risk management, and regulatory compliance. ESG reporting software is used for managing a company's ESG data in a single system of record and report. It is available in a format where the data is auditable and finance-grade.

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Esg Reporting Software Market Thrives Amidst Soaring Investor Demand For Sustainability Insights
The increasing demand for ESG information by investors is expected to propel the growth of the ESG reporting software market going forward. ESG information refers to the framework and policies that provide information about a company's business practices and performance on various sustainability and ethical issues. ESG reporting software helps to alert investors automatically about the data, reports, and all other information required, which allows them to assess the company. For instance, in May 2022, according to the ESG Global Study published by Capital Group, a US-based financial services company, 89% of investors had adopted ESG information in 2022 compared to 84% in 2021 among 1,130 people surveyed. Moreover, 31% of European investors consider ESG information a central factor in their investment approach, compared to 26% of global investors who believe ESG information is a significant factor in their investment approach. Therefore, the increasing demand for ESG information by investors will drive the ESG reporting software market.

Competitive Landscape -
Major companies operating in the environmental, social and governance (esg) reporting software market report are Refinitiv LLC, Wolters Kluwer N.V., Nasdaq Inc., MSCI Inc., Workiva Inc., Diligent Corporation, Anthesis Group, Sustainalytics, PricewaterhouseCoopers Pvt Ltd, Envirosuite Limited, EcoVadis, Sphera Solutions Inc., Isometrix Inc., Intelex Technologies Inc., Benchmark Gensuite, Cority Software Inc., RepRisk AG, Keramida Inc., Measurabl, EnHelix Inc, HSI Donesafe, Emex Software Ltd, Datamaran Limited, Novisto Inc., Diginex Ltd.

Groundbreaking Platform Leveraging Advanced Technologies For Seamless Implementation Of Esg Initiatives
Adopting advanced technologies is a key trend in the ESG reporting software market. Major companies in the ESG reporting software market have adopted new and innovative platforms to strengthen their position in the market. For instance, in June 2023, Ez-XBRL, a US-based financial regulatory and compliance products and services company, launched the Integix ESG, an innovative and ground-breaking ESG platform. Customers can easily comprehend and implement their ESG initiatives due to Integix ESG's extraordinarily intuitive and process-driven approach. The platform uses advanced technologies such as artificial intelligence (AI) and natural language processing (NLP) to set a new standard for delivering unparalleled value to customers. Businesses can successfully manage the intricacies of ESG reporting with the help of Integix ESG.

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Key Segments -
The environmental, social and governance (esg) reporting software market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Deployment Type: On-Premises, Cloud
3) By Organization Size: Small And Medium Enterprises (SME), Large Enterprises
4) By Vertical: Banking, Financial Services, And Insurance, Information Technology (IT) And Information Technology-Enabled Services (ITeS), Government And Public Sectors, Manufacturing, Retail And Consumer Goods, Healthcare And Life Sciences, Energy And Utilities, Other Verticals

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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