Global Carbon Footprint Management Market Size More Than Double to Touch USD 3.71 Billion by 2029

Published | 04 September 2023

Global carbon footprint management market is gaining traction because of the growing environmental concerns and governments’ supportive regulations and incentives.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global carbon footprint management market size at USD 1.33 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global carbon footprint management market size to grow at a CAGR of 15.8% reaching a value of USD 3.71 billion by 2029. Consumers' growing concerns over the environment, notably the increase in greenhouse gas concentrations in the atmosphere, and the expansion of government legislation aimed at reducing carbon footprint are two major growth drivers for the global carbon footprint management industry.

Global Carbon Footprint Management Market – Overview

According to Energy Education, “a CO2 footprint or carbon footprint is the total amount of carbon dioxide emissions produced, as a result of an individual's actions over a set period—generally over a year.” Carbon footprint management is a procedure that reduces carbon emissions to lessen the influence of human activity's carbon emissions on climatic changes. Enterprises may lessen their environmental impact, increase operational effectiveness, reduce costs, boost reputation, and encourage stakeholder engagement by proactively regulating carbon emissions.

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Global Carbon Footprint Management Market

Segmental Information

Global Carbon Footprint Management Market – By Organization Size

Based on organization size, the global carbon footprint management market is segmented into corporates/ enterprises, mid-tier enterprises, and small businesses. The corporates/enterprises held the largest share in the global carbon footprint management market during the 2019 to 2022 period. The large share of this segment is mainly attributed to stringent government regulations towards emissions along with increasing consumer consciousness. Consumers are increasingly aligning towards ethical brands only, which is playing a crucial role in promoting the use of carbon footprint management among corporations.

Impact of COVID-19 on Global Carbon Footprint Management Market

The COVID-19 pandemic initially halted the growth of the global carbon footprint management market. In response to the Covid-19 pandemic, a number of commercial and manufacturing sectors had to decrease or cease production. Additionally, the lack of workers and employees on-site made it difficult to sustain full-scale productivity. Therefore, the primary objective of industries and government is to resume production and meet the stock demand for products. The enterprises were also constrained on a budget to be investing in technologies. However, the market is anticipated to gain traction during the post-COVID-19 period due to a rise in consumer awareness about personal carbon footprint management.

Competitive Landscape

Major players operating in the global carbon footprint management market include SAP, Schneider Electric, IsoMetrix, Dakota Software Corporation, ENGIE, Carbon Footprint Ltd, IBM Corporation, Wolters Kluwer N.V., ProcessMAP, Salesforce, Enviance, ESP, Accuvio, Locus Technologies, ProcessMap, NativeEnergy, EcoTrack, and EnergyCap.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Carbon Footprint Management Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Carbon Footprint Management Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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