Carbon Footprint Management Market Competitive Landscape And Player-Adopted Strategies - By The Business Research Company
The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Feb. 8, 2023 /PRNewswire/ -- According to The Business Research Company's Carbon Footprint Management Global Market Report 2023, the competitive landscape of the carbon footprint management market is concentrated, with a few large players. The top ten competitors in the market made up to more than 44.6% of the total market. This can be due to the existence of number of local players in the market serving customers in particular geographies.
IBM Corporation was the largest competitor with 14.39% share of the carbon footprint management market, followed by Salesforce.com, Inc., Engie SA, SAP SE, Simble Solutions Ltd, and others. Some of the player- adopted strategies in carbon footprint management market include launching new technologies to help businesses address sustainability objectives, focusing on advanced platforms to help any organization tackle climate change, and focusing on partnership & collaboration.
For instance, in October 2021, IBM announced a suite of environmental intelligence software that leverages AI to help organizations prepare for and respond to weather and climate risks that may disrupt business, more easily assess their own impact on the planet, and reduce the complexity of regulatory compliance and reporting. The IBM Environmental Intelligence Suite aims to help companies streamline and automate the management of environmental risks and operationalize underlying processes, including carbon accounting and reduction, to meet environmental goals.
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Global Carbon Footprint Management Segmentation
- The carbon footprint management market is segmented by component into solution and services. The services market was the largest segment of the carbon footprint management market segmented by component, accounting for 54.9% of the total market.
- The carbon footprint management market is also segmented by deployment into on-premises and cloud. The cloud market was the largest segment of the carbon footprint management market segmented by deployment, accounting for 61.4% of the total market.
- The carbon footprint management market is also segmented by vertical into manufacturing, IT and telecom, residential and commercial buildings, transportation and logistics, energy and utilities and other verticals. The energy and utilities market was the largest segment of the carbon footprint management market segmented by vertical, accounting for 25.9% of the total market.
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The Global Carbon Footprint Management Market Opportunities And Strategies
The global carbon footprint management market is expected to grow from nearly $10.1 billion in 2023 to more than $12.2 billion in 2026 at a compound annual growth rate (CAGR) of 7.2%. The carbon footprint management market is then expected to grow to almost $17 billion in 2031 at a CAGR of 6.9%.
According to The Business Research Company, the top opportunities in the carbon footprint management market segmented by component will arise in the services segment, which will gain nearly $2 billion of global annual sales by 2026.
To take advantage of these opportunities, The Business Research Company recommends the carbon footprint management companies to focus on new technology launches, use artificial intelligence (AI), focus on blockchain technology, and more.
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