DUBLIN, Feb. 23, 2024 /PRNewswire/ — The “Carbon Footprint Management – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Carbon Footprint Management Market to Reach $33 Billion by 2030
The global market for Carbon Footprint Management estimated at US$11.6 Billion in the year 2022, is projected to reach a revised size of US$33 Billion by 2030, growing at a CAGR of 14% over the analysis period 2022-2030. Solutions, one of the segments analyzed in the report, is projected to record 12.8% CAGR and reach US$18.7 Billion by the end of the analysis period. Growth in the Services segment is estimated at 15.7% CAGR for the next 8-year period.
The urgent need to address climate change and the shifting focus on sustainability have spurred the rise of carbon footprint management practices. As emissions continue to rise, corporate sustainability and carbon footprint management have become core areas of climate action. Companies are increasingly recognizing the importance of measuring and managing their carbon footprint, understanding that if they can’t measure it, they can’t manage it.
This awareness has led to the development of carbon footprint management strategies. In terms of competition, there is a mix of players with varying market presences categorized as strong, active, niche, or trivial, with a global key competitors percentage market share identified for 2023. World brands are also playing a significant role in the carbon footprint management market, contributing to recent market activity and innovations aimed at addressing climate change and promoting sustainability.
The U.S. Market is Estimated at $3.6 Billion, While China is Forecast to Grow at 17.3% CAGR
The Carbon Footprint Management market in the U.S. is estimated at US$3.6 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$4.3 Billion by the year 2030 trailing a CAGR of 17.3% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.4% and 12.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 12.6% CAGR.
MARKET TRENDS & DRIVERS
Stringent Regulations Provide the Regulatory Urgency to Adopt Carbon Footprint Management StrategiesImposition of Carbon Tax, Will it Incentivize Adoption of Carbon Footprint Management Solutions?As Carbon Tax Evolves Into an Expensive Corporate Liability, Companies Seek to Mitigate the Same With Carbon Footprint Management StrategiesUntapped Opportunity & Scope Exists for Expanding Implementation of Carbon Tax & ETS WorldwideGrowing Practice of Carbon Cap and Trade to Drive Adoption of Carbon Footprint Management SolutionsRole of Carbon Capture & Storage (CCS) in Management of Carbon Footprint Gets BiggerOpportunities to Accelerate Future Deployment of CCS as Pressure to Meet Climate Goals IntensifiesGrowing Awareness Over the Risks of Climate Change for Businesses Drives Corporate Investments in Carbon Footprint ManagementLong-Term Inflationary Impact of Global Warming to Encourage Companies to Adopt Carbon Footprint Management StrategiesThe Lesser Known Link Between Inflation & Climate Change to Accelerate Big-Time Adoption of Carbon Mitigation Strategies Among CompaniesCompanies Closely Eye Recycling to Reduce Their Carbon Footprint & Close the Loop on the Circular EconomyRecycling, the Most Simple Way to Reduce Carbon Footprint, Save Money & Improve Corporate Bottom LinesPushed to Ensure Compliance, Companies Step Up Adoption of Environmental Consulting ServicesGrowing Pressure on Companies to Hedge the Risk of Transition to Net-Zero to Spur the Importance of Environmental Consulting ServicesEnvironmental, Social and Governance (ESG) & CSR Trends to Boost the Importance of Carbon Footprint Management StrategiesCommercial Fleet Owners Respond to Climate Pressures by Electrifying Their Fleets & Adopting Smart Fleet Management SolutionsFor Logistics & Transportation Companies, the Simplest Way to Reduce Carbon Footprint is to Invest in Smart Fleet Management SystemsCarbon & Environmental Data Management, Visualization, & Software Integrations Storm Into the SpotlightGrowing Focus on Clean Coal Technologies Step Up Opportunities for Carbon Footprint ManagementRole of AI in Carbon Footprint Management Gets Bigger & BiggerCompanies Double Up on Edge Computing Adoption to Reduce Carbon FootprintRole of Blockchain in Carbon Footprint Management Gets Bigger. Here are the Various Ways in Which the Technology Can HelpIn a Bid to Reduce Their Carbon Footprint, Companies Step Up Their Energy Efficiency InvestmentsEnergy Efficiency Ranks as the Primary ESG (environmental, social and governance) Best Practice Among CompaniesA Peek Into Carbon Accounting and its Role in Enabling a Greener FutureDecarbonizing Supply Chains Remains Key to Reducing & Managing Carbon FootprintGreen Finance Becomes a Core Part of Carbon Footprint ManagementCompanies Begin to Leverage Drones to Reduce their Carbon Footprint & Ensure Effective ManagementAs the Pressure to Reduce Carbon Footprint Becomes Intense, Greenwashing Emerges Into an Undesirable Trend
FOCUS ON SELECT PLAYERS(Total 79 Featured)
CarbonEESCarbon Footprint Ltd.CorityEnvianceDakota Software CorporationEnergyCAP, Inc.ENGIE ImpactEnvirosoft CorporationIBM CorporationIntelex Technologies Inc.IsoMetrix SoftwareLocus TechnologiesNative, a Public Benefit CorporationProcessMAP CorporationSalesforce.com, Inc.SAP SESchneider Electric SEWolters Kluwer N.V.
For more information about this report visit https://www.researchandmarkets.com/r/fh8ru3
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