Global Emission Management Software Market By Component (Software and Services), By Industry (Manufacturing, IT & Telecom, Government Sector, Energy & Power, and Others), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027
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Get in-depth analysis of the COVID-19 impact on the Emission Management Software Market
Market Report Description
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.
COVID-19 Impact Analysis
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.
Market Growth Factors:
Efficient management and monitoring capabilities of emission management software
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 growing popularity of sustainable development
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.
Market Restraining Factor:
High cost of management and implementation
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.
|Market size value in 2020||USD 7.7 Billion|
|Market size forecast in 2027||USD 25.43 billion|
|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|
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
KBV Cardinal Matrix - Emission Management Software Market Competition Analysis
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.
Recent Strategies Deployed in Emission Management Software Market
» Partnerships, Collaborations and Agreements:
- Nov-2021: Accenture came into a partnership with Envision Group, a leading digital energy company. This partnership aimed to assist customers to move towards net-zero. Together, the companies aimed to offer new digital technologies, service capabilities, industry experience, and a global network to assist companies more rapidly and effectively gain their net-zero targets.
- Sep-2021: Accenture joined hands with Mastercard, an American multinational financial services corporation. This collaboration aimed to assess Accenture's supplier landscape and provide Sustainability Cloud,?a platform that offers advanced capabilities to track, evaluate and take action on supplier-level carbon emissions data.
- Aug-2021: Accenture, along with Microsoft formed a partnership with Duke Energy, American electric power and natural gas holding company. This partnership aimed to develop the latest technology platform designed to calculate actual baseline methane emissions from natural gas distribution systems.
- Jul-2021: Accenture teamed up with Climeworks, a Swiss company specializing in carbon dioxide air capture technology. Under this collaboration, Accenture developed a digital plant solution for Climeworks, which helps the company in eliminating carbon dioxide (CO2) from the air more effectively.
- Feb-2021: Accenture collaborated with Microsoft, an American multinational technology corporation. This collaboration aimed to accelerate the U.K.’s low-carbon transition. Together, the companies would assist utility and energy organizations to transform the energy system and reduce the cost of decarbonizing the supply & demand of electricity in the U.K., underpinned by artificial intelligence (AI), open data, and a digital workforce.
- Feb-2021: IBM came into collaboration with bp, a British multinational oil, and gas company. Under this collaboration, bp joined the IBM Quantum Network to improve the usage of quantum computing in the energy sector. In addition, bp would work with IBM to explore utilizing quantum computing to resolve business and engineering challenges and explore the potential usage for driving efficiencies and decreasing carbon emissions.
- Jun-2020: SAP joined hands with Honeywell, a German multinational software corporation. This collaboration aimed to develop a joint cloud-based solution based on Honeywell Forge, the company’s enterprise performance management offering, and SAP Cloud Platform, which can simplify and integrate operational & business data to support better decision-making and generate better efficiencies.
» Acquisitions and Mergers:
- May-2021: Cority took over WeSustain, developer of web-based software for enterprise sustainability management. This acquisition aimed to strengthen Cority's European presence and position Cority for the swiftly emerging strategic impact of ESG factors in each key enterprise across the globe.
» Product Launches and Product Expansions:
- Oct-2021: IBM launched Environmental Intelligence Suite. This suite aimed to assist enterprises to streamline and automate the management of environmental risks and start the operations of underlying processes that include carbon accounting and reduction, to fulfill environmental objectives.
- Sep-2021: SAP unveiled SAP Product Footprint Management. This product enables enterprises to make their products more sustainable, reduce their carbon emissions, and disclose their products’ environmental footprints to regulators.
- Aug-2021: Cority released its new Sustainability Cloud. This product is developed to offer companies with one source of truth and a 360° view of all sustainability & environmental, social, and governance (ESG) programs, Cority’s Sustainability Cloud make sure data is precise, auditable, and ready to be used for making transparent sustainability reports and ESG disclosures.
- Jun-2021: Accenture released Green Cloud Advisor, a new capability for the Accenture myNav platform. This platform allows companies to work more sustainably and efficiently across cloud ecosystems, which further can help in minimizing emissions and waste with greener IT activities.
» Geographical Expansions:
- Sep-2021: Greenstone expanded its geographical footprint by opening an NYC office in North America. This office would support the company's growth in the region.
Scope of the Study
Market Segments Covered in the Report:
- Data Management
- Asset Performance Optimization
- Application Platform
- Forecasting Analytics
- Dashboard Tools
- Consulting & Training
- Support & Maintenance
- IT & Telecom
- Government Sector
- Energy & Power
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- SAP SE
- Accenture PLC
- Broadcom, Inc. (CA Technologies, Inc.)
- NortonLifeLock, Inc.
- Fortive Corporation
- Greenstone plus
- Cority Software, Inc. (Thoma Bravo)
- Foresite Systems
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What would be the size of the emission management software market by 2027?
The global emission management software market size is expected to reach $25.43 billion by 2027.
What are the key driving factors and challenges in the emission management software market?
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.
Who are the leading players in the emission management software 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.
At what CAGR is the emission management software market estimate to grow in the forecast period?
The expected CAGR of the emission management software market is 17.5% from 2021 to 2027.
Which segment shows the high growth rate of the emission management software market over the forecast period?
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.
Which region dominated the emission management software market in 2020?
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.