GITNUX MARKETDATA REPORT 2024

Carbon Accounting Software Industry Statistics

The Carbon Accounting Software Industry is anticipated to experience steady growth driven by increasing emphasis on sustainability and environmental awareness among businesses.

Highlights: Carbon Accounting Software Industry Statistics

  • The global Carbon Accounting Software market size was valued at $6.76 billion in 2021.
  • The Carbon Accounting Software is projected to reach $15.2 billion by 2028.
  • The Carbon Accounting Software Industry is projected to grow at a compound annual growth rate (CAGR) of 11.2% from 2020 to 2027.
  • North America holds 35% of the global market share for Carbon Accounting Software.
  • Europe is expected to grow at a CAGR of 13.1 % in the Carbon Accounting Software market from 2020 to 2027.
  • Asia-Pacific is anticipated to grow at a significant rate due to increasing regulatory requirements for carbon management in the region.
  • The software-as-a-service (SaaS) based carbon accounting software segment is expected to constitute a significant market share.
  • The top 5 companies in the carbon accounting software market hold over 50% of the market share.
  • 70% of the companies in the carbon software industry made investments in R&D in 2020.
  • The usage of carbon accounting software in the energy sector is projected to grow at a CAGR of 11.7% during 2020-2027.
  • IBM, SAP, and Schneider Electric are the three key market players in the Carbon Accounting Software Industry.
  • The demand for carbon accounting software in the industrial sector is expected to witness a growth at a CAGR of 12% from 2021 to 2027.
  • In terms of vertical, the manufacturing sector holds the largest market share of 25% in 2021.
  • Carbon accounting software helps businesses reduce emissions by an average of 15%.
  • The market size of the carbon accounting software sector in the retail industry is expected to grow by 12% by 2027.
  • The healthcare sector is expected to be the fastest-growing vertical in the carbon accounting software market with a CAGR of 15% from 2021 to 2026.
  • Small and Medium-sized Enterprises (SMEs) from the IT sector using carbon accounting software are expected to grow by over 20% CAGR from 2021 to 2026.
  • The cloud-based Carbon Accounting Software segment is expected to grow at the highest CAGR during the forecast period.

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The Latest Carbon Accounting Software Industry Statistics Explained

The global Carbon Accounting Software market size was valued at $6.76 billion in 2021.

The statistic ‘The global Carbon Accounting Software market size was valued at $6.76 billion in 2021″ represents the total monetary value of the market for software products designed specifically for tracking, calculating, and reporting greenhouse gas emissions and carbon footprints. This figure indicates the total revenue generated by sales of Carbon Accounting Software worldwide in the year 2021. The market size of $6.76 billion reflects the growing importance of environmental sustainability and corporate carbon management, driving organizations to invest in software solutions that help them measure and manage their carbon impact. This data point provides insight into the increasing demand for carbon accounting tools and services, as businesses seek to meet regulatory requirements, achieve sustainability goals, and improve transparency in disclosing their environmental impact.

The Carbon Accounting Software is projected to reach $15.2 billion by 2028.

The statistic ‘The Carbon Accounting Software is projected to reach $15.2 billion by 2028’ indicates the anticipated market value of carbon accounting software by the year 2028. This projection suggests that the demand for carbon accounting software, which helps organizations measure and analyze their greenhouse gas emissions, is expected to significantly increase over the next few years. The $15.2 billion figure reflects the estimated total revenue that this industry is forecasted to generate by 2028, showcasing a growing global interest in sustainability, environmental responsibility, and carbon footprint reduction efforts among businesses and other entities.

The Carbon Accounting Software Industry is projected to grow at a compound annual growth rate (CAGR) of 11.2% from 2020 to 2027.

The statistic indicates that the Carbon Accounting Software Industry is expected to experience significant growth over the period from 2020 to 2027, with a projected compound annual growth rate (CAGR) of 11.2%. This means that the industry’s revenue or market size is forecasted to increase at an average rate of 11.2% each year during this time frame. The high CAGR suggests that there is increasing demand for carbon accounting software, likely driven by factors such as corporate sustainability initiatives, regulatory requirements, and a growing focus on environmental responsibility. The industry is expected to expand rapidly, presenting opportunities for software providers, organizations seeking to track and reduce their carbon footprints, and other stakeholders within the environmental and sustainability space.

North America holds 35% of the global market share for Carbon Accounting Software.

This statistic indicates that North America accounts for 35% of the total market share for Carbon Accounting Software worldwide. Carbon accounting software is used by companies to track and measure their carbon emissions and environmental impact, in alignment with sustainability goals and regulations. The fact that North America holds such a significant portion of the market share suggests a strong presence and adoption of sustainable business practices in the region. This statistic can also reflect potential market opportunities and demand for carbon accounting software in North America, emphasizing the importance of environmental awareness and sustainability initiatives in the business sector within the region.

Europe is expected to grow at a CAGR of 13.1 % in the Carbon Accounting Software market from 2020 to 2027.

The statement indicates that the European market for Carbon Accounting Software is forecasted to experience a Compound Annual Growth Rate (CAGR) of 13.1% between the years 2020 to 2027. This means that, on average, the market is expected to expand by 13.1% each year during this period. The projected growth rate suggests a significant increase in demand for Carbon Accounting Software within Europe over the specified timeframe, reflecting favorable market conditions, increased adoption of sustainable practices, and regulatory incentives driving businesses and organizations in the region to invest in these solutions.

Asia-Pacific is anticipated to grow at a significant rate due to increasing regulatory requirements for carbon management in the region.

The statement suggests that the Asia-Pacific region is expected to experience notable growth, likely in industries related to carbon management, as a result of a rise in regulatory requirements aimed at reducing carbon emissions and enhancing environmental sustainability. This forecast indicates a shift towards a more environmentally conscious approach in the region, potentially leading to increased demand for eco-friendly technologies and solutions. The emphasis on carbon management regulations implies that businesses operating in the Asia-Pacific region may need to adapt their strategies to comply with these new requirements, presenting opportunities for growth and innovation in the field of sustainability.

The software-as-a-service (SaaS) based carbon accounting software segment is expected to constitute a significant market share.

This statistic indicates that the software-as-a-service (SaaS) based carbon accounting software segment is poised to have a considerable presence and influence in the market. This suggests that businesses and organizations are increasingly adopting SaaS solutions for their carbon accounting needs, emphasizing the importance of environmental sustainability and the management of carbon emissions. The expected significant market share points towards a growing recognition of the benefits, efficiency, and accessibility offered by SaaS-based carbon accounting software in helping companies track, monitor, and reduce their carbon footprint. Overall, this statistic highlights a shift towards more technologically advanced and user-friendly solutions in the field of carbon accounting.

The top 5 companies in the carbon accounting software market hold over 50% of the market share.

This statistic indicates that in the carbon accounting software market, dominance is concentrated among the top 5 companies, as they collectively control more than half of the market share. This suggests a high level of market concentration and may indicate a lack of significant competition from smaller players. The substantial market share held by these top companies implies that they have strong positions in the industry and may have built up significant competitive advantages over their competitors. This information is important for understanding the competitive landscape and market dynamics within the carbon accounting software industry.

70% of the companies in the carbon software industry made investments in R&D in 2020.

The statistic ‘70% of the companies in the carbon software industry made investments in R&D in 2020’ indicates that a majority of companies in this industry allocated resources towards research and development activities during the specified year. This suggests that companies within the carbon software industry highly value innovation and advancing their technological capabilities. The high percentage of companies investing in R&D implies a competitive landscape within the industry, where staying ahead in terms of technology and product development is crucial for future success. This statistic highlights the industry’s focus on developing new solutions, enhancing existing products, and maintaining a strong position in a rapidly evolving market.

The usage of carbon accounting software in the energy sector is projected to grow at a CAGR of 11.7% during 2020-2027.

The statistic indicates that the utilization of carbon accounting software within the energy sector is anticipated to increase at a compound annual growth rate (CAGR) of 11.7% over the period from 2020 to 2027. This growth projection suggests a steady and significant rise in the adoption of carbon accounting software by energy companies during this timeframe. The increasing awareness of the importance of monitoring and reducing carbon emissions, coupled with regulatory pressures and stakeholder demands for sustainable practices, are likely driving this trend. The use of such software enables energy companies to track and analyze their carbon footprint, identify areas for improvement, and ultimately work towards achieving their environmental goals and commitments.

IBM, SAP, and Schneider Electric are the three key market players in the Carbon Accounting Software Industry.

The statistic indicates that IBM, SAP, and Schneider Electric are regarded as the top market players within the Carbon Accounting Software Industry. This suggests that these companies have established themselves as leaders in providing carbon accounting software solutions, likely due to their technological capabilities, market presence, industry expertise, and customer trust. As key players, IBM, SAP, and Schneider Electric are likely to have a significant market share, influence industry trends, and set the standard for product innovation and quality within the carbon accounting software sector. Organizations seeking carbon accounting software solutions may consider these three companies as reputable and reliable options within the industry.

The demand for carbon accounting software in the industrial sector is expected to witness a growth at a CAGR of 12% from 2021 to 2027.

This statistic indicates that the demand for carbon accounting software specifically within the industrial sector is projected to experience substantial growth over the period from 2021 to 2027. The Compound Annual Growth Rate (CAGR) of 12% suggests that the demand for these software solutions is expected to increase steadily and consistently each year during this time frame. This growth may be driven by various factors such as tightening regulations around carbon emissions, increasing focus on sustainability and corporate social responsibility, and the need for businesses to measure and manage their environmental impact more effectively. Overall, this statistic highlights a significant opportunity for providers of carbon accounting software to capitalize on the growing demand within the industrial sector.

In terms of vertical, the manufacturing sector holds the largest market share of 25% in 2021.

The statistic stating that the manufacturing sector holds the largest market share of 25% in 2021 in terms of vertical indicates that out of all the sectors or industries being considered, manufacturing has the highest proportion of market activity at 25%. This means that manufacturing companies collectively contribute the most to the overall market in terms of revenue or production. This information implies that the manufacturing sector is a significant player in the economy and is an important driver of market performance for the year 2021. Stakeholders and investors may find this statistic valuable in understanding the distribution of market share among different sectors and making strategic business decisions.

Carbon accounting software helps businesses reduce emissions by an average of 15%.

The statistic that carbon accounting software helps businesses reduce emissions by an average of 15% implies that companies who adopt such software see, on average, a 15% decrease in their carbon emissions compared to their baseline level. This suggests that the implementation of carbon accounting software allows businesses to track, monitor, and manage their environmental impact more effectively, leading to lower carbon footprints. The statistic highlights the potential of technology solutions like carbon accounting software in helping organizations become more sustainable and environmentally conscious by identifying areas for improvement and implementing strategies to reduce emissions.

The market size of the carbon accounting software sector in the retail industry is expected to grow by 12% by 2027.

The statistic suggests that the overall market size of carbon accounting software within the retail industry is projected to increase by 12% by the year 2027. This growth indicates a positive trend in the adoption and utilization of carbon accounting software by retail businesses, likely driven by an increasing focus on sustainability and environmental responsibility within the industry. The expected growth rate of 12% highlights the potential for substantial expansion within this sector, which could lead to more widespread integration of carbon accounting practices to help retail companies track and reduce their carbon emissions effectively.

The healthcare sector is expected to be the fastest-growing vertical in the carbon accounting software market with a CAGR of 15% from 2021 to 2026.

This statistic indicates that the healthcare sector is projected to experience the highest rate of growth within the carbon accounting software market over the next five years, with a Compound Annual Growth Rate (CAGR) of 15%. This forecast suggests that the demand for carbon accounting software within the healthcare industry is anticipated to grow significantly as organizations in this sector increasingly prioritize sustainability and environmental responsibility. The expected rapid expansion in this vertical highlights the industry’s efforts to monitor, manage, and reduce their carbon footprint, aligning with global efforts to mitigate climate change and promote sustainability practices.

Small and Medium-sized Enterprises (SMEs) from the IT sector using carbon accounting software are expected to grow by over 20% CAGR from 2021 to 2026.

The statistic indicates that Small and Medium-sized Enterprises (SMEs) in the Information Technology (IT) sector who utilize carbon accounting software are projected to experience a Compound Annual Growth Rate (CAGR) of over 20% from 2021 to 2026. This growth rate represents a significant uptrend in the adoption and implementation of carbon accounting software among SMEs in the IT sector. The increasing focus on environmental sustainability and carbon footprint reduction is likely to be a key driver behind this growth, as SMEs seek to monitor and manage their greenhouse gas emissions more effectively. This statistic suggests a promising outlook for both the sustainability efforts of SMEs and the market for carbon accounting software in the IT sector over the forecasted period.

The cloud-based Carbon Accounting Software segment is expected to grow at the highest CAGR during the forecast period.

This statistic suggests that within the carbon accounting software market, the segment focused on cloud-based solutions is projected to exhibit the highest Compound Annual Growth Rate (CAGR) over the forecast period. This growth rate indicates the expected annualized rate of growth for the cloud-based Carbon Accounting Software segment, showcasing a strong potential for expansion compared to other segments within the market. The increasing adoption of cloud-based technologies, the advantages offered by cloud solutions in terms of scalability, accessibility, and cost-effectiveness, as well as the rising emphasis on sustainable practices and carbon footprint management are likely driving factors fueling the growth of this particular segment in the carbon accounting software industry.

Conclusion

Based on the statistics presented, it is clear that the carbon accounting software industry is experiencing significant growth and making a positive impact on sustainability efforts worldwide. With the increasing focus on carbon emissions and environmental responsibility, the demand for such software is expected to continue rising. Organizations that invest in carbon accounting software now are not only staying ahead of regulatory requirements but also positioning themselves as leaders in the global shift towards a more sustainable future.

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How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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