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Carbon Footprint Management Market worth $30.8 billion by 2028 - Exclusive Report by MarketsandMarkets™
By deployment mode, the cloud segment of the Carbon Footprint Management Market is expected to be the largest during the forecast period. Businesses are opting for cloud-based solutions as they guarantee safety and security because of these advantages. Cloud deployment mode provides advantages such control over data, lower possibility of data loss, and absence of concerns about regulatory compliance. Moreover, cloud has lower deployment costs, and provides ease of execution, upgrades, and maintenance. All these factors are expected to drive the growth of this segment 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 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.
To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players, such as Schneider Electric ( France ), SAP ( Germany ), IBM (US), Salesforce (US) and ENGIE ( France ) along with other prominent vendors of carbon footprint management.
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