The Global Emission Management Software Market size is expected to reach $25.43 billion by 2027, rising at a market growth of 17.5% CAGR during the forecast period.
A software that helps companies to manage the processes related to the emissions of the industrial facilities or complicated sites is termed as emission management software. This software consists of the provision of functionality needed for industrial operations and for corporate demands like environmental reporting or KPI (Key Performance Indicator) supervising. Emission management software combines processes and people across various industrial units, which would substantially contribute to risk mitigation.
The major functions of the emission management software are managing compliance with legal permits & regulations that implement critical operational boundaries and financial risks for industrial & non-industrial operation sites.
In addition, the ability of the solution to evaluate emissions prediction scenarios helps in making this software a tool for all kinds of planning and strategic decision items on an operational and corporate level, which would attract more companies for its usage.
By using emission management software, enterprises can reduce the chances of human error, carry out efficient situation analysis, report and decrease the GHG (Green House Gases) emissions at all levels.
The outbreak of the COVID-19 pandemic has impacted numerous segments of the business domain. The imposition of numerous regulations to curb the spread of the virus like partial or complete lockdown, ban on traveling across borders, and temporary band on manufacturing units has negatively impacted the demand and growth of the emission management software market.
Such aspects have restricted the adoption of the emission management software and thus, declined the demand and growth of the emission management software market. The shutdown of the manufacturing units across different business segments has resulted in the slowdown of the demand and growth of the emission management software market.
By using advanced emission management software, companies and manufacturing units can monitor their greenhouse and carbon emissions precisely and in real-time legacy emission management. In addition, this software can make it easier for the management to look after the emission stages in real-time as per the government compliances.
The rising popularity of sustainable development among governments would increase their emphasis on the sustainable development of the region. According to a study published by International Energy Agency (IEA), about 31.5 Giga tons CO2 was generated across the world during the year 2020. This huge number of emissions would increase the concerns of the authorities and thus, fuel the demand and growth of the emission management software market over the forecast period.
The initial cost of deployment of emission management software is relatively high since this software is made to support all the possible processes related to emissions in the large-scale industries. In addition, there are several companies that are finding it difficult to implement this software due to the lack of proper infrastructure used to maintain and efficiently operate this software for better operational productivity.
On the basis of component, the emission management software market is segmented into software and services. In 2020, the software segment acquired the largest share in the emission management software market and is anticipated to continue this trend over the forecast period. The emission management software helps in constant reporting, logging, and evaluation of emissions data, which make sure the fulfillment of compliance with permits & standards.
By industry, the emission management software market is fragmented into manufacturing, IT and telecom, government sector, energy & power, and others. The manufacturing segment procured the highest share in the emission management software market in 2020 and is estimated to continue this dominance over the forecast period. The manufacturing sector is one of the major users of emission management software as this sector heavily contributes to the overall emissions in the environment. Manufacturing facilities are more liable for various environmental regulations and standards.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 7.7 Billion |
| Market size forecast in 2027 | USD 25.43 billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 17.5% from 2021 to 2027 |
| Number of Pages | 273 |
| Number of Tables | 463 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Industry, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the emission management software market is analyzed across North America, Europe, Asia Pacific, and LAMEA. North America is estimated to garner a prominent share in the emission management software market during the forecast period. It is owing to the swift digital transformation and growing adoption of cloud-based emissions management by different industries. In addition, the growing demand for clean and renewable energy in various developed nations like the US and Canada is augmenting the demand for emission management software across the region.
Free Valuable Insights: Global Emission Management Software Market size to reach USD 25.43 billion by 2027
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Accenture PLC, SAP SE and IBM Corporation are the forerunners in the Emission Management Software Market. Companies such as Cority Software, Inc., Broadcom, Inc., Fortive Corporation are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, SAP SE, Accenture PLC, Broadcom, Inc. (CA Technologies, Inc.), NortonLifeLock, Inc., Fortive Corporation, Greenstone plus, Cority Software, Inc. (Thoma Bravo), and Foresite Systems.
By Component
By Industry
By Geography
The global emission management software market size is expected to reach $25.43 billion by 2027.
The growing popularity of sustainable development are driving the market in coming years, however, high cost of management and implementation limited the growth of the market.
IBM Corporation, SAP SE, Accenture PLC, Broadcom, Inc. (CA Technologies, Inc.), NortonLifeLock, Inc., Fortive Corporation, Greenstone plus, Cority Software, Inc. (Thoma Bravo), and Foresite Systems.
The expected CAGR of the emission management software market is 17.5% from 2021 to 2027.
The Energy & Power market is expected to witness highest CAGR of 17.9% during (2021 - 2027). the consistent role of energy & power makes it important to regulate their emissions due to their methane emissions from extraction, exploration, transportation, processing, and distribution of energy, which would fuel the demand for emission management software.
The North America market dominated the Global Emission Management Software Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $9,940.6 million by 2027.
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