Carbon Footprint Management Market 2023 Industry Analysis, Size, Trends, Growth, and Forecast 2028

According to a new market research report, the global carbon footprint management market is projected to reach USD 30.8 billion by 2028 from an estimated USD 11.3 billion in 2023, at a CAGR of 22.2% during the forecast period. An increase in government initiatives for emissions reduction, increasing demand for energy consumption by industries, and implementation of COP27 targets to limit global warming are the major drivers of the carbon footprint management markets. A general shift toward cloud computing and paperless economy is another factor that would provide opportunities for the growth of the carbon footprint management market during the forecast period.

Key Market Players:
Partnerships and product launches are among the key growth strategies adopted by leading companies such as Schneider Electric (France), SAP (Germany), IBM (US), Salesforce (US), and ENGIE (France) to boost their position in the carbon footprint management market. The other companies in the carbon footprint management market focus majorly on acquisitions, partnerships, product launches, collaborations, and expansions to grab a strong foothold in the market.

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This research report categorizes the carbon footprint management market based on Component, Deployment Mode, Organization Size, Vertical, and Region.
Based on Component, the carbon footprint management market has been segmented as follows:

Solutions
Services
Consulting
Integration & Deployment
Support & Maintenance

Based on deployment mode, the carbon footprint management market has been segmented as follows:

Cloud
On-premises

Based on organization size, the carbon footprint management market has been segmented as follows:

Corporates/Enterprises
Mid-Tier Enterprises
Small Businesses

Based on vertical, the carbon footprint management market has been segmented as follows:

Manufacturing
Food & Beverages
Metals & Mining
Chemical & Materials
Electronics & Consumer Goods
Automotive
Pharmaceutical & Healthcare
Others
Energy and Utilities
Residential and Commercial Buildings
Transportation and Logistics
IT and Telecom
Financial Servies
Government

Based on region, the carbon footprint management market has been segmented as follows:

North America
Europe
Asia Pacific
Middle East & Africa
South America

By vertical, the financial services segment is expected to be the fastest growing segment of the carbon footprint management market during the forecast period

The financial services sector, by vertical, of the carbon footprint management market is expected to grow at the highest CAGR between 2022 to 2028, owing to the opportunities in sustainable finance products such as sustainability-linked loans, green and transition bonds, sustainable investment funds, and insurance solutions. The banking, and the BFSI (banking, financial services, and insurance) sector as a whole, is IT intensive and the GHG emissions associated with financial institutions' investing, lending, and underwriting activities are on average over 700 times higher than their direct emissions. Moreover, financial institutions appear to be focused on low-carbon transition opportunities and are rapidly engaging to support and lead the transition to a low-carbon world, driving the fast growth of the segment in the market.

North America is expected to dominate the carbon footprint management market

North America held a dominant position in the carbon footprint management market industry in 2022, and is expected to continue to do so throughout the forecast period as a result of the region's proactive efforts to reduce the effects of climate change. In line with this, the region has set strong NDC targets and enacted binding ESG disclosure regulations. Carbon footprint management solutions are expected to see considerable growth over the next few years.

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Report Objectives

To define, describe, segment, and forecast the carbon footprint management market by component, deployment mode, organization size, vertical, and region, in terms of value.
To provide comprehensive information about the drivers, restraints, opportunities, and industry-specific challenges that affect the market growth
To strategically analyze the global carbon footprint management market with respect to individual growth trends, future expansions, and each segment's contribution to the market.
To analyze market opportunities for stakeholders and details of the competitive landscape for market leaders.
To forecast the growth of the global carbon footprint management market with respect to the main regions (Asia Pacific, North America, Europe, Middle East & Africa, and South America).
To profile and rank key players and comprehensively analyze their market share.
To analyze competitive developments such as acquisitions, contracts & agreements, product launches, and expansions in the carbon footprint management market.
This report covers the global carbon footprint management market size in terms of value and volume.

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