Carbon Accounting Software Market to Record 26.97% YOY Growth Rate in 2022, Driven by Need to Reduce the Overall Costs Incurred by Enterprises – Technavio – QNT Press Release

NEW YORK, July 26, 2022 /PRNewswire/ — The carbon accounting software market size is expected to grow by USD 9.61 billion from 2021 to 2026, progressing at a CAGR of 28.66% as per the latest forecast market report by Technavio. The need to reduce the overall costs incurred by enterprises is a key driver driving the carbon accounting software market. Enterprises have realized the benefit of deploying the appropriate software. Visibility of energy usage enables enterprises to identify appropriate cost-saving opportunities. The use of carbon accounting can help enterprises identify business activities that use a lot of energy and thereby help reduce the use of energy as well as resources. Measuring the carbon footprint determines the current consumption of energy and allows enterprises to address any inefficiencies, and also helps them find ways to lower direct energy costs. This reduces the overall costs incurred by these enterprises. Carbon accounting provides end- user enterprises with details about the overall energy consumption patterns during a given period. Hence, such factors are expected to drive the growth of the global carbon accounting software market during the forecast period.

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Carbon Accounting Software Market: Segmentation Analysis

The carbon accounting software market is segmented by end-user (oil and gas, telecommunication, technology, power and utilities, and others) and geography (North America, EuropeAPAC, MEA, and South America).

End-user Landscape
  • The carbon accounting software market share growth in the oil and gas segment will be significant for revenue generation.
  • The oil and gas sector is the leading adopter of carbon accounting software. Oil and gas enterprises need this software to account for and report carbon emissions from various stages of their value chain. The companies are under increasing pressure to reduce their carbon footprint by the Paris Agreement goal, which is to limit global warming to below 2 degrees C (preferably to 1.5 degrees C) when compared to pre-industrial levels. Such necessities are expected to drive market growth during the forecast period.
Geography Landscape
  • 37% of the market’s growth will originate from North America during the forecast period.
  • The US is the key market for carbon accounting software in North America. Market growth in this region will be faster than the growth of the market in Europe and South America. Concerns among corporations regarding increasing CO2 emission rates will facilitate the carbon accounting software market growth in North America over the forecast period.

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Carbon Accounting Software Market: Vendor Analysis

The carbon accounting software market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

  • Benchmark Digital Partners LLC
  • BraveGen
  • Carbon Analytics Ltd.
  • CarbonetiX
  • Epicor Software Corp.
  • Greenstep Oy
  • Intelex Technologies Inc.
  • Lisam Systems SA
  • Locus Technologies
  • NativeEnergy
  • ProcessMAP Corp.
  • SAP SE
  • SIERRA ODC Pvt. Ltd.
  • Simble Solutions Ltd.
  • Sphera Solutions Inc.
  • Wolters Kluwer NV
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Get ready to achieve excellent business outcomes from this exclusive Carbon Accounting Software Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as –

  • What are historical revenue figures and estimated revenue figures as well as CAGR during the forecast timeframe?
  • What is the current trend taking place in the market space?
  • Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?
  • What are market drivers, restraints, and challenges impacting demand & growth of the market?
  • Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?

The competitive scenario provided in the Carbon Accounting Software Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share , etc.Don’t wait, Make a strategic approach & boost your business goals with our Carbon Accounting Software Market Forecast Report – Buy Now!

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