NEW YORK, Sept. 26, 2024 /PRNewswire/ — Report with the AI impact on market trends- 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.

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Market Driver

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-premisesGeography 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 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-premisesGeographyNorth 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

NEW YORK, Sept. 26, 2024 /PRNewswire/ — Report with the AI impact on market trends- The global payroll outsourcing services market size is estimated to grow by USD 5.99 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.79% during the forecast period. Growing need for payroll cost visibility is driving market growth, with a trend towards rise of multi-country and centralized outsourcing models. However, issues related to geographical transition poses a challenge. Key market players include Acara Solutions India, Accenture Plc, Alight Solutions LLC, Automatic Data Processing Inc., Ceridian HCM Holding Inc., Complete Payroll Solutions, Deloitte Touche Tohmatsu Ltd., Hewlett Packard Enterprise Co., Hexaware Technologies Ltd., Infosys Ltd., International Business Machines Corp., Intuit Inc., Paycom Software Inc., Paycor Inc., Ramco Systems Ltd., Safeguard World International LLC, TalentPro, The Access Group, Wipro Ltd., and Workday Inc..

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Market Driver

Organizations seek experienced payroll outsourcing partners with expertise in multiple countries, managing recruitment functions through advanced methods such as benchmarking, best practices, and process improvement. The competitive landscape has intensified due to globalization, with India and China being major recipients of outsourcing projects. Eastern European countries are also adopting payroll outsourcing strategies. Mid-sized US companies are playing a larger role in the global economy, and multinational companies are rapidly adopting payroll outsourcing. Globalization offers companies the opportunity to streamline international expansion without navigating complex national regulations. Multi-Country Recruitment Process Outsourcing (MCRPO) is a growing trend, involving the outsourcing of payroll sub-processes in two or more countries, which is expected to fuel market growth during the forecast period.

Payroll outsourcing is a popular trend among businesses of all sizes, from small to large, in various industries like IT and telecommunication, healthcare, and more. By partnering with a third-party payroll outsourcing firm, companies can offload administrative tasks related to employee pay, payroll taxes, tax filing, and tax preparation. This allows businesses to focus on their core activities and save time and cost. Payroll outsourcing firms offer fully outsourced services, including payroll processing, payroll calculation, and record-keeping. They ensure compliance with labor laws and offer real-time data access through cloud computing. Hybrid payroll outsourcing enables businesses to keep their HR team involved while outsourcing specific payroll processes. Cost reduction, process automation, and information protection are key benefits. Payroll outsourcing firms provide a centralized database and unified approach, ensuring data confidentiality and work automation. Payroll reports and tax preparation are handled efficiently, reducing the workload on in-house accounting and bookkeeping teams. With payroll outsourcing, businesses can access the latest payroll software and services, ensuring accurate and timely payroll processing.

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Market Challenges

Large organizations face challenges in implementing standard payroll processes across multiple geographies due to varying compliance requirements. This complexity necessitates automation and expert teams for integration. Outsourcing payroll services becomes crucial for businesses to ensure regulatory compliance and streamlined operations. Service providers establish captive centers in respective countries to offer localized solutions and reduce costs. However, these factors may hinder market growth during the forecast period. Organizations rely on payroll outsourcing services to manage their global workforce effectively and maintain regulatory compliance. Service providers must have a strong presence and centralization to cater to diverse client needs and geographical complexities.Payroll outsourcing services have gained popularity among businesses of all sizes, including IT and telecommunication, healthcare, and others. Small, medium, and large businesses benefit from outsourcing payroll processes to focus on core competencies. Challenges such as payroll calculation, tax withholding, and labor law compliance can be efficiently managed. Hybrid payroll outsourcing offers flexibility with on-premises and cloud-based solutions. HR teams save time and resources with real-time data access and automation of processes like payroll calculation and record-keeping. Cost reduction is a significant advantage, as is the ability to access payroll reports and employee self-service options. However, data security and confidentiality are crucial concerns. Service providers must ensure data protection measures to prevent data breaches. Unified approaches to payroll outsourcing, including mobile solutions, centralized databases, and process automation, streamline operations and enhance efficiency. Core businesses trust payroll outsourcing services to handle employee salaries, wages, bonuses, and tax withholding. In today’s digital age, it’s essential to partner with a reliable provider that prioritizes information protection and data confidentiality.

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Segment Overview

This payroll outsourcing services market report extensively covers market segmentation by

Product1.1 Hybrid1.2 Fully outsourcedType2.1 Mid-market2.2 National2.3 MultinationalGeography3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Hybrid- Payroll outsourcing services allow businesses to delegate their payroll processes to specialized providers. This can save time and resources, ensuring accurate and timely payment of employee wages. Outsourcing also offers compliance with tax laws and regulations. Service providers use advanced technology and expertise to manage complex payroll tasks, providing businesses with efficient and cost-effective solutions. Companies across industries are increasingly turning to payroll outsourcing to streamline their HR functions and focus on their core business activities.

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Research Analysis

Payroll outsourcing is the practice of transferring the responsibility of managing and processing employee payroll to a third-party service provider. This includes handling administrative tasks such as calculating employee salaries, wages, bonuses, tax withholding, and payroll taxes in compliance with labor laws. Payroll outsourcing firms offer businesses various payroll processing solutions, including traditional and hybrid models, to help businesses focus on their core competencies. These firms also provide training, payroll systems, and payroll reports. Data security is a critical concern, with payroll outsourcing companies implementing measures to prevent data breaches. Mobile payroll solutions are also available, allowing businesses to manage payroll on-the-go. Payroll outsourcing is suitable for small, medium, and large businesses alike, offering cost savings, efficiency, and expertise in payroll processes.

Market Research Overview

Payroll outsourcing is the practice of transferring the responsibility of managing and processing employee payroll to a third-party service provider. This allows businesses to focus on their core competencies while outsourcing administrative tasks such as payroll processing, tax filing, and tax preparation. Payroll outsourcing firms offer fully outsourced services, including payroll calculation, payroll taxes, and record-keeping, to small, medium, and large businesses across various industries, including IT and telecommunication, healthcare, and others. Outsourcing payroll processes brings several benefits, such as cost reduction, real-time data access, time-saving, and process automation. A unified approach to payroll services, using a centralized database and software, ensures data confidentiality and information protection. Hybrid payroll outsourcing offers a combination of in-house and outsourced services, allowing businesses to maintain some control over their payroll processes while outsourcing complex tasks. Employees can also benefit from self-service options, such as mobile payroll solutions, for accessing their payroll information. Payroll outsourcing firms offer training and support to HR teams to ensure smooth implementation and ongoing management of the payroll system. Additionally, outsourcing payroll processes can help businesses stay compliant with labor laws and reduce the risk of data breaches.

Table of Contents:

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

ProductHybridFully OutsourcedTypeMid-marketNationalMultinationalGeographyNorth 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

NEW YORK, Sept. 26, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global road safety market size is estimated to grow by USD 1.80 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  9.45%  during the forecast period. Increase in number of road fatalities or accidents is driving market growth, with a trend towards adoption of connected vehicles and connected road infrastructure. However, lack of standardized and uniform technologies  poses a challenge. Key market players include Altumint, Belcons International doo, Clearview Intelligence Ltd., Conduent Inc., Cubic Corp., Dahua Technology Co. Ltd., IDEMIA France SAS, IEG America, Jenoptik AG, Kapsch TrafficCom AG, Laser Technology Inc., Motorola Solutions Inc., Sensys Gatso Group AB, Siemens AG, Stein Bildverarbeitungssysteme GmbH, SWARCO AG, Syntell Pty. Ltd, Teledyne Technologies Inc., and Verra Mobility Corp..

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Market Driver

Connected vehicles and smart traffic lights are revolutionizing road safety through the Internet of Things (IoT). Vehicles can connect with mobile devices and be monitored and managed wirelessly. Smart traffic lights use cameras and radar sensors to detect real-time traffic flow and adjust signals accordingly, improving safety for vehicles and pedestrians. These systems are automated and linked to a main control room, where operators analyze camera footage to manage traffic patterns. The integration of connected vehicles and smart traffic lights will significantly drive the growth of the global road safety market. 

The Road Safety Market is experiencing significant growth due to increasing road traffic injuries and fatalities worldwide. Government agencies are prioritizing section enforcement and upgrading infrastructure to improve highway safety. Road safety products, such as incident detection systems and surveillance, play a crucial role in identifying and responding to traffic accidents. Smart cities and megacities are investing in security spending to enhance public safety and traffic mobility. Consulting and planning services are in high demand for implementing safety programs and initiatives. The threat landscape includes motorization and urbanization, making intelligent corridor and tag-based solutions essential for effective traffic management. Safety authorities collaborate with the National Safety Council and Land Transport Authority to address road accidents and improve health conditions. Upgrading road infrastructure and implementing advanced technologies are key trends in this market. 

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Market Challenges

The global road safety market faces challenges due to varying traffic regulations across countries. For instance, the US follows a left-driving rule, while European countries adhere to right-driving rules. These inconsistencies necessitate customized road safety solutions, hindering the development of standardized offerings. Additionally, many countries lack the financial resources to implement advanced road safety technologies fully. This resource constraint creates gaps in the adoption of road safety solutions, posing challenges to market growth during the forecast period.The road safety market is experiencing significant growth due to the increasing demand for advanced technologies to ensure transportation safety and mobility. Key challenges include capturing granular data on pedestrian, cyclist, and vehicle movement at intersections and capturing real-time images for ALPR/ANPR. Road safety solutions require integration of hardware components like cameras, radars, sensors, and software like Image-Processing, GIS, GPS, and Big Data. Communication and workflow protocols are essential for mass adoption, with a common protocol ensuring seamless data sharing between systems. Threats include social media misinformation and environmental impact. Road safety market offerings include smartphone applications, drones, virtual-reality simulators, and back-office systems for railroad crossing safety, red light enforcement, and speed enforcement. Data security is paramount, with solutions incorporating data encryption and access control. The market is expected to continue growing, driven by the need for road safety solutions that address road user behavior, road characteristics, operational environment, and road safety factors.

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Segment Overview

This road safety market report extensively covers market segmentation by

Component 1.1 Solution1.2 ServicesGeography 2.1 North America2.2 Europe2.3 APAC2.4 Middle East and Africa2.5 South America

1.1 Solution-  The Road Safety Market is a significant business sector focusing on providing products and services to ensure safe travel on roads. This includes vehicle safety systems, infrastructure solutions, educational programs, and emergency response services. Companies in this market aim to reduce accidents and save lives through innovation and collaboration with governments and organizations. They offer advanced technologies like collision avoidance systems, road sensors, and traffic management software to enhance road safety. The market is expected to grow due to increasing vehicle sales, government regulations, and rising awareness about road safety.

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Research Analysis

The Road Safety Market encompasses various solutions and services aimed at ensuring the safe transportation of goods and people on roads. In the current context, with the freight system playing a crucial role in the supply chain of essential goods, road safety has taken on renewed importance. Digital services, such as real-time traffic mobility information and advanced driver assistance systems, are transforming the transport sector, enhancing safety and efficiency. Road safety products, from highway safety barriers to vehicle safety systems, are essential for reducing road fatalities and ensuring the safety of transport operators and other road users. Safety authorities and traffic management systems work together to enforce regulations, manage congestion, and maintain optimal traffic flow, all contributing to the overall goal of enhancing road safety. The National Safety Council and other organizations play a vital role in advocating for road safety initiatives and raising awareness about best practices.

Market Research Overview

The road safety market encompasses various solutions and technologies aimed at enhancing transport safety in the freight system and ensuring the well-being of essential workers. Digital services play a crucial role, including traffic management solutions, transport demand management, and digitalization of business operations. Latest technologies such as computer vision, IoT sensors, artificial intelligence, and traffic management tools are employed to analyze granular data on pedestrian, cyclist, and vehicle movement. Road safety factors include road user behavior, road characteristics, and operational environment. Hardware components like cameras, radars, and sensors are integrated with communication protocols and back-office systems for mass adoption. Transportation safety solutions encompass mobility, environmental impact, and threat landscape considerations. Road safety data is collected and analyzed using technologies like ALPR/ANPR, incident detection systems, and surveillance. Government agencies and transportation operators collaborate on programs and initiatives to reduce road traffic injuries and fatalities. Road infrastructure upgrading and smart city development are key areas of investment, with spending on security and surveillance increasing in the face of evolving threats. Transport modes like railroad crossing safety, bus lanes, and speed enforcement are addressed through specialized solutions. Virtual-reality simulators, social media, and drones are also utilized in road safety efforts. Big Data analysis is integral to understanding road safety trends and optimizing road safety solutions.

Table of Contents:

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

ComponentSolutionServicesGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/road-safety-market-to-grow-by-usd-1-80-billion-2024-2028-rise-in-road-accidents-driving-growth-report-highlights-how-ai-is-redefining-the-market–technavio-302258568.html

SOURCE Technavio