An increase in demand for emission monitoring and effective tracking and management capabilities with EMS drive the growth of the global emission management software market.
Allied Market Research published a research report on the emission management software market. The findings of the report state that the global market for emission management software generated $10.4billion in 2020, and is expected to garner $43.6 billion by 2030, witnessing a CAGR of 15.7% from 2021 to 2030. The report offers valuable information on evolving market trends, major segments, top investment pockets, and key competitors for market players, investors, shareholders, and new entrants.
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Abhijith Nair, the Research Analyst, ICT at Allied Market Research, highlighted, “The growing demand for emissions management software markets will drive the growth within North America, owing to immense focus on the carbon reduction policy adopted by the U.S. government. North America is predicted to dominate emission management software market trends due to rapid digital transformation. The market in North America is predicted to achieve a higher market share during the forecast period, due to increasing adoption of cloud-based emissions management by varied industries. Moreover, increasing adoption of technology and rising demand for clean and renewable energy are projected to boost the market growth. Government initiatives to decrease energy emissions from several old and public buildings also are boosting the market demand. As an example, the U.S. General Services Administration made a contract with IBM Corporation to put in efficient and smart building technologies in 50 of the state and federal government’s highest energy-consuming buildings.”
The report offers an in-depth analysis of drivers, restraints, and opportunities to help market players in devising strategies and capitalizing on potential market opportunities. Increase in demand for emission monitoring and effective tracking and management capabilities with EMS drive the growth of the global emission management software market. However, high cost associated with the installation and management of EMS impedes the market growth. On the contrary, emphasis on the implementation of sustainability solutionspresents opportunities in the next few years.
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The research offers an extensive scenario of Covid-19 along with outlining its impact on the emission management software market across the world. Due to the government-imposed lockdowns and the lack of workforce in several countries manufacturing units in a variety of industries were partially or totally shut down.This affected the market demand for emission management software for real-time monitoring.Furthermore, regular operations in the energy and power sectors were disrupted, and demand for carbon emissions monitoring decreased.This has an impact on the demand for emission management software. However, once regular operations resume, demand is projected to increase throughout the post-lockdown period.
The report offers detailed segmentation of the global emission management software marketbased on component, software, service, industry,and region. These insights are helpful for new as well as existing market players to capitalize on the fastest growing and largest revenue-generating segments to accomplish growth in the future.
Based on components, the software segment dominated the market share in terms of revenue in 2020, accounting for more than four-fifths of the global emission management software market, and is expected to continue its lead position during the forecast period. On the other hand, the services segment is expected to garner the highest CAGR of 17.5% from 2021 to 2030.
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Based on industry, the manufacturing segment held the highest share in 2020, contributing to more than one-third of the global emission management software market, and is expected to continue its dominance during the forecast period. The government sector segment,however, is anticipated to portray the fastest CAGR of 17.0% from 2021 to 2030.
Based on region, North America held the lion’s share in 2020, holding more than two-fifths of the total share, and is estimated to maintain its dominance in terms of revenue by 2030. However, Asia-Pacific is expected to grow at the fastest CAGR of 17.3% during the forecast period.
Leading players of the global emission management software market analyzed in the research include Hara, CA, Inc., IBM, Accenture, SAP, Enviance, Greenstone Carbon Management, Carbonetworks, Foresite Systems, and Symantec.
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