Substituting Efforts of Farmers with Agr...
Posted in Information Technology by Adolf on May 20,2022 853
Carbon footprint is the amount of total greenhouse gas emissions caused by an event, individual, organization, service, place or product. Greenhouse gases, including the carbon-containing gases carbon dioxide and methane, can be emitted by burning fossil fuels or land clearance or burning wood and through transportation and other services. Carbon footprint management system deals with the modulation of these greenhouse gases.
Rising concerns regarding global warming climate change and the need for an international agreement on carbon emission is increasing the demand for carbon footprint management. With increasing government initiatives and employment of a standardized monitoring framework are encouraging low carbon emission policies. For instance, the Climate Change Act 2008 of United Kingdom, Mandatory Greenhouse Gas (GHG) Law of Europe, Clean Air Act to monitor and regulate greenhouse gas emissions in the United States are some of the regulations targeted to significantly reduce greenhouse gas emissions. These regulatory norms targeting to limiting global temperature is mandating industries and organization to comply with the carbon emission regulations are significantly increasing the adoption of carbon footprint management services and solution leading to the market growth.
Furthermore, the modernization of IT and telecom infrastructure industry is expected to create significant growth opportunity in the market over the forecast period. However, high cost associated with the replacement of existing infrastructure with greener and low carbon emitting infrastructure impedes the growth of the market over the forecast period of 2020-2026.
Global Carbon Footprint Management Market was valued at US$9289.64 million in 2021 and is anticipated to project a robust growth in the forecast period with a CAGR of 10.30% and reach US$16411.66 million by 2027F, owing to rapidly increasing in initiatives by corporates for environmental sustainability and increasing demand for clean energy consumption by industries. The market growth is estimated on the grounds of increasing demand for clean energy and increasing concerns regarding degrading environment.
Also, increasing greenhouse gas emissions and higher energy consumption by the industries are actively driving the growth of the global carbon footprint management market in the upcoming 5 years. Carbon footprint management is a complete system of solutions and services that keeps a check over increasing carbon emissions and managing its quantity in the environment to save the environment from degradation.
Besides, the system is also incorporated to raise awareness, quantifying the emissions, advancing various methods to reduce the cost of carbon emission management services, along with managing the cloud services recording and analysing data related to carbon footprint. Carbon footprint management deals with the accounting and measurement of carbon emissions from different verticals including manufacturing, energy and utilities, residential and commercial buildings, transportation and logistics and others, as they generate large amounts of carbon emissions. Adoption of carbon footprint management system to control the emissions is also supporting the market growth in next 5 years. Moreover, rising awareness about the increasing greenhouse gases, carbon emissions, and their ill effects over environment, and lives of living beings are also substantiating the growth of the global carbon footprint management market in the future 5 years.
The global carbon footprint management market is segmented by component, deployment mode, type, end user industry, regional distribution and competitive landscape. Based on the end user industry, the market is segmented into IT & telecom, energy & utilities, manufacturing, transportation, building & construction, and others. Energy & utilities segment is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming 5 years in the grounds of increasing demand for carbon emission management. Higher emissions of carbon and greenhouse gases from the power generation industries, and energy generation infrastructures, are further aiding the growth of the global carbon footprint management market in the next 5 years.
IBM Corporation, Wolters Kluwer N.V., SAP SE, Dakota Software Corporation, Salesforce.com, Inc., ProcessMAP Corporation, IsoMetrix, Sphera, Natural Capital Partners, VelocityEHS, Aurecon, Carbon Trust, Greenstone+ Limited, Cority, Engie SA, Schneider Electric SE, Accruent are among the major market players in the global platform that lead the market growth of the global carbon footprint management market.
The study material available on the aforementioned management market is useful in providing answers to several critical questions that are important for the industry stakeholders such as companies, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.