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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Carbon Footprint Management Market Outlook

The global carbon footprint management market size reached a value of USD 10.34 billion in 2023. The market is likely to grow further at a CAGR of 6.3% during 2024-2032 to reach a value of USD 18.03 billion in 2032.

Global Carbon Footprint Management Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 10.34
Market Size 2032 USD Billion 18.03
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 6.3%
CAGR 2024-2032 - Market by Region North America 7.2%
CAGR 2024-2032 - Market by Country UK 7.3%
CAGR 2024-2032 - Market by Country USA 7.1%
CAGR 2024-2032 - Market by End-User Manufacturing 7.0%
CAGR 2024-2032 - Market by Lifetime Material Production 6.8%
Market Share by Country 2023 Italy 3.2%

carbon footprint management market

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News and Developments in the Market

In August 2023, Sumitomo Mitsui Banking Corporation (SMBC), IBM Japan and Persefoni collaborated to offer a decarbonisation solution to Japanese customers, which enables them to analyse and support carbon footprint management. Also, the digitally-enabled services help meet regulatory and compliance requirements.

In June 2023, Salesforce developed Net Zero Cloud to enhance the tracking and reporting of the company’s carbon footprint in order to accelerate its transition to net zero. The Net Zero Cloud is used by organisations of all sizes as it helps streamline and improve the availability of emissions reporting.  Such initiatives by the key players are expected to support the carbon footprint management market growth.

In May 2023, Sphera® introduced its Life Cycle Assessment (LCA) Automation software, a next-generation solution that helps customers to gain real-time insights into the environmental footprint of their products and also calculate the carbon footprint at scale. The company intends to enable engineers to develop sustainable products and establish lower carbon emission supply chains.

In September 2021, Engie launched Ellipse, a carbon intelligence platform that allows companies to track their carbon emissions in real-time, design strategies to reduce emissions, and efficiently use sustainability investments. It is tailored to build an accurate emissions footprint using artificial intelligence, allows carbon-first decision-making, and enables the gathering of vast amounts of data.  The new product launches by the leading manufacturers are expected to increase the carbon footprint management market share.

In April 2021, Schneider Electric decided to collaborate with 1,000 suppliers to help reduce their CO2 emissions throughout their operations by 50% by 2025. This will be achieved by delivering digital tools and resources to help them achieve carbon reduction targets. The decision is a part of the company’s Zero Carbon Project initiative, designed to enable the suppliers to develop innovative strategies for emissions reduction.

Emerging Need to Meet Regulatory Standards by the Organisations, Carbon Neutral Government Programmes, and Technological Advancements to be the Key Carbon Footprint Management Market Trends

Carbon footprint management is a strategic approach adopted by organisations to reduce carbon emissions from daily activities to contribute towards limiting the impact of climate change. Also, it helps businesses to identify their potential, supporting the efficient usage of carbon emissions, leading to cost savings.

  • There is a surge in the adoption of carbon footprint management solutions and services by the organisations to meet expanding regulatory standards and attain financial incentives through a green status.
  • The stringent government regulations towards lowering carbon emissions in order to achieve carbon neutrality by 2050 and alleviate the harmful impacts of climate change are likely to bolster the use of carbon footprint management.
  • Technological advancements, such as artificial intelligence and machine learning, and the growing use of AI-powered carbon footprint management solutions to measure the level of carbon emissions by setting an emission baseline in real time are expected to support the market.

Carbon Footprint Management Market Analysis

carbon footprint management market by segments

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The market can be divided based on component into solution and services (consulting, integration and deployment, support and maintenance). On the basis of end-user, the market is segmented into refineries, manufacturing, utilities, and transportation, among others. Based on lifetime, the market is classified into material production, consumption, and end-of-life.

The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The comprehensive EMR report offers an extensive assessment of the carbon footprint management market on the basis of Porter's five forces model, along with giving a SWOT analysis.

CAGR 2024-2032 - Market by Country
UK 7.3%
USA 7.1%
China 6.6%
Germany 6.5%
Australia 6.4%
Canada XX%
France 6.2%
Italy XX%
Japan XX%
India XX%
Saudi Arabia XX%
Brazil XX%
Mexico 5.9%

The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

  • Schneider Electric
  • Salesforce, Inc.
  • Sphera
  • Engie
  • Carbon Footprint Ltd
  • IBM Corporation
  • Isometrix
  • Accuvio
  • Dakota Software
  • SAP SE
  • Others

Rising Demand for Efficient Energy Management Solutions to Aid the Carbon Footprint Management Market

There is a rising use of integrated digital solutions for carbon footprint calculation, carbon reduction, and carbon offsetting that are tailored to meet the requirements of customers. The market players are offering efficient carbon footprint management solutions that help organisations to achieve the goals of carbon neutrality and enable them to use cost-effective and reliable, clean energy sources in order to coexist with the global environment.

In July 2023, Alibaba Cloud introduced its Energy Expert, a software-as-a-service offering that allows customers to measure, analyse, and manage the carbon emissions of their activities and products. The platform offers energy-saving insights and energy-efficient technologies that enable clients to attain sustainability and reduce their carbon footprint. The initiatives taken by the key players in offering such innovative solutions that meet the customer expectations are likely to support the carbon footprint management market in the long run.

Also, there are carbon footprint management services that provide the expertise and resources to enable the clients to aggregate, calculate, and track carbon emissions annually. These services help with the complexity of carbon accounting, deliver digital tools, and offer a comprehensive view of carbon emissions through inventory management plans.

For instance, in December 2021, Fujitsu Limited and Ridgelinez Limited announced new services that support the customers in the Japanese market to bring their carbon emissions to zero and achieve carbon neutrality. These consulting services offered by Ridgelinez help the clients to measure and visualise carbon emissions in their supply chains.

Growing Use in the Manufacturing Sector to Support the Carbon Footprint Management Market Growth

The growing awareness about the detrimental effects of carbon emissions is leading to the rising adoption of carbon footprint management by small and mid-size manufacturing companies. These solutions and services are used to analyse and visualise the emissions throughout the supply chain from procurement of raw materials to disposal or recycling of the materials, further helping measure the carbon footprint of the individual products. This helps the manufacturing sector to achieve carbon neutrality through integrated cloud applications and reduction measures.

The stringent government regulations, such as the setting of heavy-duty GHG regulations to reduce carbon emissions in the transportation sector, are resulting in the increased demand for carbon footprint management. These solutions help vehicle owners know the carbon footprint of all types of vehicles, such as petrol, hybrid, and electric, to help them reduce their impact on the environment, which is expected to support the carbon footprint management market development. Moreover, they offer suggestions to reduce the carbon footprint, such as turning off the engine when not needed, changing the oil, switching off the air conditioning, and others.

The surge in eco-consciousness among the refiners is resulting in the need to lower the carbon intensity by reducing emissions on a per barrel of refined crude basis. Thus, the emerging need for net-zero emissions in oil refineries is leading to the growing need to calculate carbon footprint, thus resulting in the demand for carbon footprint management solutions or services.

The market players are developing innovative solutions using technologies to reduce carbon emissions from buildings by helping owners optimise energy use. In June 2023, Honeywell Building Technologies introduced its cloud-based carbon and energy management software with data, analytics, and Internet of Things (IoT) capabilities to enable buildings to reduce carbon emissions and achieve sustainability. The software calculates the carbon data from emission sources, such as gas, electricity, and fuel source and also offers a roadmap for carbon neutrality.

carbon footprint management market by region

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Competitive Landscape of Carbon Footprint Management Market

Engie is a France-based utility company that delivers services in renewable energy and storage. The company intends to accelerate the transition to net zero carbon by promoting low carbon infrastructure and reducing energy consumption.

IBM Corporation or International Business Machines Corporation is a United States-based company that offers real-world solutions and insights to help the organisations become more sustainable.

Carbon Footprint Ltd provides solutions to cut carbon footprint by calculating the emissions, helping reduce energy costs, meet regulatory standards, and improve the products or services through approved carbon offsetting.

Other carbon footprint management market players include Schneider Electric, Salesforce Inc., Sphera, Isometrix, Accuvi, Dakota Software, and SAP SE, among others.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • End-User
  • Lifetime
  • Region
Breakup by Component
  • Solution
  • Services (Consulting, Integration and Deployment, Support and Maintenance)
Breakup by End-User
  • Refineries
  • Manufacturing
  • Utilities
  • Transportation
  • Others
Breakup by Lifetime
  • Material Production
  • Consumption
  • End-of-life
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Schneider Electric
  • Salesforce, Inc.
  • Sphera
  • Engie
  • Carbon Footprint Ltd
  • IBM Corporation
  • Isometrix
  • Accuvio
  • Dakota Software
  • SAP SE
  • Others

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the market attained a value of nearly USD 10.34 billion.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach almost USD 18.03 billion by 2032.

The major market drivers include increasing use by organisations to save costs and meet regulatory standards, escalating eco-consciousness, and initiatives taken by the market players to develop efficient solutions and deliver superior services.

The key market trends guiding the growth of the market include the stringent government regulations towards lowering the carbon emissions and technological developments in the carbon footprint management solutions and services.

The significant components of carbon footprint management are solution and services (consulting, integration & deployment, support & maintenance).

The market is assessed to grow at a CAGR of 6.3% between 2024 and 2032.

The various end users of carbon footprint management system are refineries, manufacturing, utilities, and transportation, among others.

The different lifetimes are material production, consumption, and end-of-life.

The major players in the carbon footprint management market are Schneider Electric, Salesforce Inc., Sphera, Engie, Carbon Footprint Ltd, IBM Corporation, Isometrix, Accuvi, Dakota Software, and SAP SE, among others.

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40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

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+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124