The Europe Carbon Footprint Management Market would witness market growth of 20.8% CAGR during the forecast period (2023-2029).
The field of carbon management is expanding as a means of addressing how businesses contribute to climate change and lowering GHG emissions, for which carbon management combines useful, affordable strategies. In order to reduce the annual emissions that businesses report to investors in their Corporate Social Responsibility (CSR) reports, carbon management is important for identifying effective CO2 emissions reduction solutions. Life cycle analysis, energy efficiency, renewable energy certificates, low-carbon fuel substitution, and new technologies like carbon capture, also known as direct air capture, are all methods businesses can use to reduce their reported CO2 emissions.
During the projected period, the expanding construction and infrastructure sectors are anticipated to favorably impact the demand. More homes and businesses are being built due to the growing need for infrastructure and housing. In addition, the demand for heating and cooking, the handling of waste & wastewater, and the usage of refrigerants in residences and commercial buildings all contribute to the carbon emissions produced by these enterprises. Systems for managing one's carbon footprint can aid in calculating, tracking, and lowering the emissions produced by buildings and other structures.
In order to combat climate change, the European Parliament passed the European Climate Law, which increases the EU's goal of lowering net greenhouse gas emissions by at least 55% by 2030 (from the present 40%) and establishes the legal requirement of achieving climate neutrality by 2050. The European Green Deal, which outlines the EU's path to climate neutrality, includes the Climate Law. The European Union (EU) has developed an ambitious set of legislative measures referred to as Fit for 55 in 2030 to help it achieve its climate objective. It includes several connected, updated laws as well as fresh legislation on energy and the environment.
The Germany market dominated the Europe Carbon Footprint Management Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $2,172.2 Million by 2029. The UK market is anticipated to grow at a CAGR of 19.7% during (2023 - 2029). Additionally, The France market would exhibit a CAGR of 21.7% during (2023 - 2029).
Based on Deployment, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Corporates/Enterprises, Mid-Tier Enterprises and Small Businesses. Based on Component, the market is segmented into Solution and Services. Based on Vertical, the market is segmented into Manufacturing, Financial Services, IT & Telecom, Government, Energy & Utilities, Residential & Commercial Buildings and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Carbon Footprint Management Market is Projected to reach USD 33.7 Billion by 2029, at a CAGR of 21%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Schneider Electric SE, SAP SE, Salesforce, Inc., IBM Corporation, ENGIE, Intelex Technologies, ULC, IsoMetrix, Cority Software, Inc. (Thoma Bravo), Dakota Software Corporation and Locus Technologies.
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