The North America Carbon Accounting Software Market would witness market growth of 21.0% CAGR during the forecast period (2024-2031).
The US market dominated the North America Carbon Accounting Software Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $20,721.1 million by 2031. The Canada market is experiencing a CAGR of 23.3% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 22.6% during (2024 - 2031).
This market refers to the industry that provides software solutions designed to help organizations measure, manage, and report their carbon emissions. This software serves a critical role in the contemporary landscape of environmental sustainability. It provides a systematic approach to quantify, monitor, and report greenhouse gas (GHG) emissions. The primary applications of this software include. Organizations can monitor emissions all over the supply chain, from purchasing raw materials to dispatching goods, using this software.
In addition, this software can assess the environmental impact of products throughout their lifecycle, from production and use to disposal. This lifecycle analysis helps understand products' full carbon footprint and make informed decisions about product design and materials. The software can integrate with eco-design tools to provide insights into how product design choices affect emissions, supporting the development of more sustainable products.
Canada has experienced a rise in carbon emissions, particularly from the oil and gas sector, transportation, and industrial activities. This increase is a major concern for achieving national and international climate targets. According to the Government of Canada, Canada’s total GHG emissions in 2022 were 708 megatons of carbon dioxide equivalent (Mt CO2 eq), a 1.3% increase from 698 Mt CO2 eq in 2021. Between 1990 and 2022, Canada’s GHG emissions increased by 16.5% (100 Mt CO2 eq). Canada has implemented carbon pricing mechanisms, such as carbon taxes and cap-and-trade systems, to incentivize emission reductions. These regulations require businesses to measure and report their emissions accurately, driving the demand for carbon accounting software that can handle complex regulatory compliance. Therefore, increasing carbon emissions in the region are driving the growth of the market.
Free Valuable Insights: The Carbon Accounting Software Market is Predict to reach USD 74.4 Billion by 2031, at a CAGR of 21.8%
Based on Deployment, the market is segmented into Cloud and On-premises. Based on Enterprise Size, the market is segmented into Large Enterprises and SMEs. Based on End-use, the market is segmented into Energy & Utilities, IT & Telecom, Transportation & Logistics, Healthcare, Retail, Food & Beverages, Construction & Infrastructure, Chemicals, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Deployment
By Enterprise Size
By End-use
By Country
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