NEW YORK, Nov. 25, 2024 /PRNewswire/ — The global sustainability management software market  size is estimated to grow by USD 1.47 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  15.2%  during the forecast period.  Shift toward green initiatives is driving market growth, with a trend towards emergence of analytics in sustainability management software. However, integration issues with erp solutions  poses a challenge. Key market players include Benchmark Digital Partners LLC, Dakota Software Corp., Diligent Corp., ENGIE SA, Figbytes Inc., Fortive Corp., International Business Machines Corp., LogicLadder Technologies Pvt. Ltd., Mitsubishi Electric Corp., PDS Group, Quentic GmbH, SAP SE, Schneider Electric SE, Sphera Solutions Inc., UL Solutions Inc., Urjanet Inc., VelocityEHS Holdings Inc., and Wolters Kluwer NV., ICONICS, Inc., HELLA GmbH & Co. KGaA, General Electric Company, Microsoft, Salesforce, Inc.

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Key Market Trends Fueling Growth

The current business environment is witnessing a decline in energy costs, leading enterprises to adopt smarter methods for managing energy consumption. Energy suppliers impose penalties on inefficient devices with low power factors, and governments worldwide raise the bar for energy standard compliance and carbon footprint reduction. Big data and analytics technologies are playing a significant role in reducing operating expenditures in various industries, including energy and utility, banking, financial and insurance, and healthcare, through predictive modeling techniques. Real-time data analytics helps organizations in the energy sector to comply with regulatory requirements. SaaS-based analytics solutions have gained popularity due to their flexibility. In the solar industry, energy analytics is gaining traction in the global sustainability management software market, utilizing machine learning and predictive analytics technologies. Effective energy management systems integrate predictive analytics with IoT, improving operational efficiency and planning through smart grid initiatives. Real-time analytics optimizes functions such as building-energy management, energy production, weather forecasting, and predictive maintenance of EMS. IoT and predictive analytics provide benefits such as asset efficiency analysis, real-time data collection, optimal warranty period definition, and cost estimation, ultimately optimizing carbon emissions and providing well-informed demand-side operations. These factors will boost the growth of the global sustainability software management market during the forecast period. 

Sustainability management software is a business solution that helps companies reduce costs, manage data related to energy usage and resource management, and track their carbon footprint and pollution reduction efforts. This software is trending in various sectors, including manufacturing and chemicals, due to its ability to automate data management, provide real-time information, and support scenario planning for energy savings and climate change mitigation. The software can be implemented as cloud-based, on-premise, or hybrid solutions, offering consulting and implementation services. Key features include project planning, reporting, and collaboration and communication systems. By adopting sustainability management software, businesses can enhance their corporate strategy, embrace sustainable practices, and derisk their supply chains in resource-stressed areas. The software also supports green development, energy efficiency, and the use of renewable resources, ultimately contributing to a low-carbon technology future. 

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Market Challenges

Sustainability management software plays a crucial role in helping businesses manage and reduce their carbon emissions. Integrating this software with an enterprise resource planning (ERP) system can enhance its benefits. However, integration challenges arise due to the complexity of IT infrastructure. The lack of compatibility between sustainability management software and ERP systems can result in additional costs and manual processes. Middleware solutions exist to address some of these issues, but they require customization and can be costly. Overcoming these integration hurdles is essential for the expansion of the global sustainability management software market.Sustainability management software is essential for businesses seeking to reduce costs, manage data, and minimize their environmental impact. Challenges include effective energy usage and resource management, data management, and reporting. Automated data management and scenario planning help save energy and reduce carbon footprint, pollution, and climate change risks. The chemicals and manufacturing sectors benefit from sustainability software, enabling supply chain derisking and green development. Corporate strategy and sustainable practices require cloud-based solutions for energy efficiency, carbon emissions reduction, and real-time information on green energy and renewable resources. Implementation and consulting services ensure successful software adoption, whether on-premise, hybrid cloud, or collaboration and communication systems.

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Segment Overview 

This sustainability management software market report extensively covers market segmentation by

Application 1.1 IT and telecom1.2 Healthcare1.3 Automotive1.4 Manufacturing1.5 Oil and gasDeployment 2.1 Cloud2.2 On-premisesVertical/IndustrySoftwareGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 IT and telecom-  The IT and telecommunications sector is projected to lead the global sustainability management software market due to the significant carbon footprint it contributes to the environment. Currently, ICT is responsible for approximately 3-4% of global CO2 emissions, with telecommunications accounting for 1.6% of this total. Upstream and downstream operations, including energy use from suppliers, contribute up to 90% of telco firms’ emissions. With data centers projected to account for 8% of global power consumption by 2030, the need to monitor and reduce carbon emissions is increasingly important. Major telcos have committed to reducing energy usage per unit of traffic by around 70% by the end of this decade, which could potentially reduce emissions by up to 15% by 2030. In response, the ICT industry is adopting sustainability management software to manage emissions and comply with climate regulations, driving market growth within the IT and telecom sector during the forecast period.

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Research Analysis

Sustainability Management Software is a vital tool for businesses seeking to reduce their carbon emissions, manage energy usage, and promote the use of renewable resources. This software enables automated data management of energy consumption and resource usage, providing valuable insights for energy saving and pollution reduction. It also supports scenario planning and project management, helping companies to implement sustainable practices and align with corporate strategy. The software can be delivered through cloud-based, on-premise, or hybrid cloud solutions, offering flexibility to meet various business needs. With great databases and reporting capabilities, this software assists organizations in tracking their carbon footprint, monitoring climate change impacts, and identifying areas for improvement in their manufacturing processes. By adopting Sustainability Management Software, businesses can effectively manage their energy and resources, reduce their environmental impact, and contribute to a more sustainable future.

Market Research Overview

Sustainability management software is a vital tool for businesses seeking to reduce their carbon emissions, manage energy usage, and promote the use of renewable resources. This software enables real-time data management and reporting on energy consumption, resource usage, and environmental impact. It offers automated data management, project planning, scenario planning, and energy-saving strategies to help companies reduce their carbon footprint and pollution levels. The software can be implemented through cloud-based, on-premise, or hybrid cloud solutions, and often includes collaboration and communication systems to facilitate teamwork and information sharing. Sustainability management software is essential for industries such as chemicals and manufacturing, where energy efficiency and resource management are critical. It also plays a crucial role in corporate strategy and the adoption of sustainable practices. Cloud-based solutions offer cost-saving strategies and easy access to low-carbon technology, making them increasingly popular. Overall, sustainability management software is a powerful tool for businesses looking to minimize their environmental impact, improve energy efficiency, and enhance their corporate social responsibility.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationIT And TelecomHealthcareAutomotiveManufacturingOil And GasDeploymentCloudOn-premisesVertical/IndustrySoftwareGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Mannshardt’s expertise in statistical methodologies and data science, plus her leadership skills, will further strengthen Westat’s capacity to deliver innovative, data-driven solutions to clients.

ROCKVILLE, Md., Nov. 25, 2024 /PRNewswire/ — Elizabeth Mannshardt, PhD, joined Westat in November 2024 as Vice President and Director, Statistics and Data Science. Mannshardt brings a wealth of statistical and data science knowledge, leadership, and strategic planning to Westat’s senior leadership team. She also has strong connections to the broader statistical community, having served in several American Statistical Association (ASA) leadership roles and is an ASA Fellow.

Prior to joining Westat, Mannshardt served as the director of the Statistics, Methods, and Innovation Program at the National Center for Science and Engineering Statistics of the National Science Foundation where she led a team of survey statisticians and methodologists. Earlier, she was the acting director of the Information Access and Analysis Services Division in the Environmental Protection Agency’s Office of Information Management where she led a team of data scientists and information technologists managing national and public-facing programs and services, including the design and buildout of the agency’s cloud-hosted data management and analytics platform.

Mannshardt is an adjunct associate professor in North Carolina State University’s Department of Statistics and vice chair of ASA’s Membership Council, which provides oversight and guidance to nine ASA committees.

“Liz’s extensive expertise in statistics and data science, along with her outstanding leadership and strategic foresight, will continue to drive our capacity to deliver cutting-edge, data-driven solutions,” says Jeri Mulrow, MS, Vice President and Sector Lead, Data Solutions. “Her strong ties within the statistical profession and her dedication to collaboration will further elevate our organization.”

About Westat (www.westat.com)

Westat is a leader in research, data collection and analysis, technical assistance, evaluation, and communications. Our evidence-based findings help clients in government and the private sector accelerate advancements in health, education, transportation, and social and economic policy. Since 1963, our dedication to improving lives through research and our approach to projects grounded in investigative curiosity, equity, statistical and data rigor, adaptive methods, and advanced technology are why clients find exceptional value in our work.

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NEW YORK, Nov. 25, 2024 /PRNewswire/ — The global electronic health records market  size is estimated to grow by USD 54.7 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 17.57%  during the forecast period.

Market Driver

The Electronic Health Records (EHR) market is experiencing significant growth as healthcare providers shift from paper records to digital solutions. Hospitals and healthcare units are major adopters, with the professional services segment driving demand. Chronic diseases require extensive patient records, making digitalization essential. The acute and post-acute segments, including rehabilitation centers, benefit from EHRs’ efficiency. Doctors and pharmacies also use EHRs for patient health history, medicines, allergies, and immunization status. Web-based EHRs offer convenience, while Client server-based EHRs ensure data security. Advanced healthcare facilities utilize EHRs for clinical documentation, lab systems, radiology systems, and clinical applications. Healthcare financing, administrative applications, and healthcare financing are also managed through EHRs. EHR service providers leverage software technology, artificial intelligence, and cloud storage technology to offer advanced solutions. Geriatric population and diseases require specialized EHRs. Inpatient EHRs, ambulatory care, ambulatory surgical centers, and clinical trials also use EHRs for data storage and administrative data. Devices and drugs are integrated into EHR systems for seamless patient care. 

The UN projects that over half of the global population will be aged 65 and above by 2039, leading to significant growth in the healthcare sector, particularly in developed countries. In response, the industry is transitioning from diagnosis and treatment to prevention. This trend is also emerging in Asia and the Middle East, where population growth is most pronounced. The demand for remote healthcare, wireless treatments, and minimally invasive procedures is escalating. Healthcare providers are investing in home care, remote monitoring, telehealth, and self-monitoring solutions to cater to this preventive care focus. 

Market Challenges

The Electronic Health Records (EHR) market is witnessing significant growth due to the digitalization of healthcare. However, challenges persist in various segments. In the professional services segment, integrating EHR systems across hospitals, healthcare units, rehabilitation centers, and clinics requires expertise. Chronic diseases demand efficient management of patient health history, medicines, allergies, and immunization status. Hospitals face challenges with paperwork, digitalization, and big data management in acute and post-acute segments. Doctors and physicians in ambulatory services need user-friendly Web-based EHR solutions for easy access to patient records. Pharmacies, laboratories, and clinics require seamless integration with EHR systems for efficient clinical documentation and administrative applications. EHR service providers must address the unique needs of advanced healthcare facilities, specialty centers, and geriatric population. Software technology, artificial intelligence, and cloud storage technology play crucial roles in addressing these challenges. Healthcare financing, drug development, and device integration are also essential considerations. Inpatient EHR, clinical trials, and administrative data management are key areas of focus.The electronic health records (EHR) market is experiencing significant growth due to the digitalization of healthcare workflows. However, this trend comes with concerns over privacy and data protection. With the integration of devices generating data into healthcare systems and the availability of data from hospitals and insurance companies in a centralized place, healthcare organizations and patient information are at risk of cyberattacks. This issue restricts the healthcare industry from fully adopting advanced technologies, despite the potential benefits of improved healthcare quality, insights, and cost reduction. It is crucial for industry players to prioritize security measures to mitigate these risks and ensure patient data confidentiality.

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Segment Overview 

This electronic health records market report extensively covers market segmentation by

Deployment 1.1 On-premises1.2 Cloud-basedComponent 2.1 Services2.2 Software2.3 HardwareTypeApplicationGeography 3.1 North America3.2 Europe3.3 Asia3.4 Rest of World (ROW)

1.1 On-premises-  On-premises Electronic Health Records (EHR) are self-hosted systems where the software and hardware are installed and managed on the native IT infrastructure of businesses and enterprises. These systems offer physical control and improved data security as the data is managed in-house, and there is no reliance on the Internet for access. However, the adoption of on-premises EHR by small and medium-sized enterprises (SMEs) is hindered due to the higher costs associated with the additional requirements for servers, hardware, and floor space. Large enterprises with sufficient funds and existing infrastructure continue to prefer on-premises EHR due to the enhanced data security and control. The growing concerns around data privacy and security are driving the demand for on-premises EHR solutions, contributing to the market’s growth during the forecast period.

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Research Analysis

The Electronic Health Records (EHR) market is witnessing significant growth due to the digitalization of healthcare and the increasing adoption of advanced technologies in the healthcare industry. The market caters to various segments including hospitals, healthcare units, and advanced healthcare facilities in both the acute and post-acute segments. Chronic diseases management is a major application area for EHRs, helping healthcare providers manage patient health history, medicines, allergies, and clinical documentation more effectively. EHR systems come in different formats such as Web-based and client server-based, with Ambulatory EHR and Acute EHR being the most common types. These systems integrate with various healthcare systems including lab systems, radiology systems, and pharmacy systems, streamlining workflows and reducing paperwork. The post-acute segment, including rehabilitation centers, is also adopting EHRs to manage patient care more efficiently. Big data analytics is a key trend in the EHR market, enabling healthcare providers to gain insights from patient data and improve patient outcomes. Overall, the EHR market is transforming healthcare delivery by making patient records more accessible and manageable.

Market Research Overview

The Electronic Health Records (EHR) market is a rapidly growing segment in the healthcare industry, driven by the digitalization of paperwork and the need for efficient and accurate patient care. EHR systems are used by hospitals, healthcare units, rehabilitation centers, and other advanced healthcare facilities to manage patient’s healthcare records. These records include health history, medicines, allergies, immunization status, lab test results, hospital discharge instructions, billing information, and more. EHR systems are available in various formats such as Web-based EHR, Client server-based EHR, Acute EHR, Ambulatory EHR, and Post-acute EHR. They cater to different segments like hospitals, ambulatory services, pharmacies, laboratories, clinics, and specialty centers. The market is segmented into professional services, acute segment, post-acute segment, and the chronic diseases segment. The professional services segment includes services related to the implementation, customization, and maintenance of EHR systems. The acute segment caters to the needs of hospitals and inpatient care, while the post-acute segment serves the needs of long-term care facilities and rehabilitation centers. EHR systems use advanced software technology, artificial intelligence, and cloud storage technology to provide clinical applications, administrative applications, healthcare financing, and clinical documentation. They also offer integration with lab systems, radiology systems, pharmacy systems, and clinical trial data. The geriatric population and patients with chronic diseases benefit significantly from EHR systems as they require continuous care and monitoring. EHR service providers offer on-premise software and cloud-based software to cater to the varying needs of healthcare providers. The market also includes drug, devices, and administrative data.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentOn-premisesCloud-basedComponentServicesSoftwareHardwareTypeApplicationGeographyNorth AmericaEuropeAsiaRest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio