Carbon accounting software market 2022-2026: A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio
NEW YORK, Jan. 30, 2023 /PRNewswire/ -- According to Technavio, the global carbon accounting software market size is estimated to grow by USD 9.61 billion from 2021 to 2026. The market is estimated to grow at a CAGR of 28.66%. Moreover, the growth momentum will accelerate. North America will account for 37% of the market's growth during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. To know more, buy the report!
Global carbon accounting software market - Five forces The global carbon accounting software market is fragmented, and the five forces analysis covers?
Global carbon accounting software market ? Customer landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global carbon accounting software market - Segmentation assessment
Segment overview Technavio has segmented the market based on end-user (telecommunication, oil and gas, technology, power and utilities, and others).
The telecommunication segment will account for a significant share of the market's growth during the forecast period. Carbon accounting software is used by telecom companies to monitor their carbon emissions and reduce their operational costs. Some of the components responsible for carbon emissions include antennas, feeders, cables, and other transmission equipment. Passive components such as telecom towers, sites, and others also lead to carbon emissions.
Geography overview Based on geography, the global carbon accounting software market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global carbon accounting software market.
North America will account for 37% of the market's growth during the forecast period. The US is a key country for the carbon accounting software market in the region. Moreover, market growth in this region will be faster than the growth of the market in Europe and South America. Concerns regarding increasing CO2 emission rates will drive the carbon accounting software market growth in North America during the forecast period.
The need to reduce the overall costs incurred by enterprises is driving the carbon accounting software market.
With the help of carbon accounting software, enterprises can identify appropriate cost-saving opportunities.
They can also identify business activities that use a lot of energy and take action accordingly.
This reduces the overall costs incurred by these enterprises.
Such factors are expected to drive the growth of the global carbon accounting software market during the forecast period
Leading trends influencing the market
Government initiatives and regulations to reduce carbon emissions are a trend in the market.
Governments of different countries are taking initiatives to reduce GHG emissions by formulating energy-related rules and regulations.
To meet the GHG emission regulatory requirements, organizations should observe, measure, and monitor the levels of emissions of substances such as carbon.
These factors are encouraging companies to adopt carbon accounting software, which, in turn, will support the growth of the global carbon accounting software market during the forecast period
Major challenges hindering market growth
The difficulty in capturing energy usage data will challenge the carbon accounting software market growth during the forecast period.
Most organizations rarely track their energy usage.
Calculating carbon emissions involves tracking down utility invoices for numerous buildings and contacting multiple plant managers to ascertain the use of propane, natural gas, and other energy sources.
Estimating the use of energy by equipment such as chillers, trucks, fleets, remote offices, and generators is difficult and time-consuming.
Therefore, challenges in capturing accurate data will impede the global carbon accounting software market
The accounting software market size is expected to increase by USD 7.04 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.64%. This report extensively covers accounting software market segmentation by deployment (on-premises and cloud) and geography (North America, Europe, APAC, MEA, and South America).
The business accounting software market size is expected to increase by USD 2.33 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.14%. This report extensively covers market segmentation by deployment (cloud-based and on-premise) and geography (North America, Europe, APAC, the Middle East and Africa, and South America).
Carbon Accounting Software Market Scope
Report Coverage
Details
Page number
141
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 28.66%
Market growth 2022-2026
USD 9.61 billion
Market structure
Fragmented
YoY growth 2021-2022 (%)
26.97
Regional analysis
North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution
North America at 37%
Key countries
US, China, Japan, Germany, and UK
Competitive landscape
Leading vendors, market positioning of vendors, competitive strategies, and industry risks
Key companies profiled
Benchmark Digital Partners LLC, Carbon Analytics Ltd., CarbonetiX, Energy Solution Providers Ltd, ENGIE SA, Epicor Software Corp, Greenstep Oy, Intelex Technologies, Lisam Systems SA, Locus Technologies, NativeEnergy, ProcessMAP Corp., SAP SE, SIERRA ODC Pvt. Ltd., Simble Solutions Ltd., Sphera Solutions Inc., and Wolters Kluwer NV
Market dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Exhibit 134: Wolters Kluwer NV - Business segments
Exhibit 135: Wolters Kluwer NV - Key offerings
Exhibit 136: Wolters Kluwer NV - Segment focus
11 Appendix
11.1 Scope of the report
11.2 Inclusions and exclusions checklist
Exhibit 137: Inclusions checklist
Exhibit 138: Exclusions checklist
11.3 Currency conversion rates for US$
Exhibit 139: Currency conversion rates for US$
11.4 Research methodology
Exhibit 140: Research methodology
Exhibit 141: Validation techniques employed for market sizing
Exhibit 142: Information sources
11.5 List of abbreviations
Exhibit 143: List of abbreviations
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