The North America Carbon Footprint Management Market would witness market growth of 20.2% CAGR during the forecast period (2023-2029).
Carbon footprint management (CFM) mechanisms can help a commercial organization (or a residential complex) determine, monitor, report, and control its carbon emissions. The purpose of carbon footprint management processes is to ensure that the facilities under observation do not emit more carbon dioxide than local and federal legislation allows. In addition, the carbon footprint management system can notify the owner if emissions exceed the safe threshold, at which point they can take the necessary measures. These CFM solutions applications support the technology's development in the contemporary environment.
The carbon footprint measures all greenhouse gases (GHG) produced by normal economic and human activities. When taking action and launching activities to decrease an activity's carbon footprint to the bare minimum, expressed in tons of carbon dioxide (CO2) emissions, it is crucial to be aware of its carbon footprint. The carbon footprint environmental indicator measures both direct and indirect emissions of substances like nitrogen oxide (N2O), methane (CH4), hydrofluorocarbons (HFCs), sulfur hexafluoride (SF6), perfluorocarbons (PFCs), and, most importantly, carbon dioxide (CO2), which has been the main cause of warming since 1990.
In order for Canada to achieve its 2030 climate target and 2050 net-zero goal, carbon management will be crucial to the country's economic and environmental future. In order to ensure that Canada is well-positioned to enable meaningful climate action, the government is developing a carbon management strategy in collaboration with technical experts, stakeholders, and other interested Canadians. The CO2 Capture, Utilization, and Storage (CCUS) initiative at CanmetENERGY Ottawa is one such example that consists of R&D in capturing, utilization, and storage of carbon. Therefore, the region presents lucrative growth prospects for the market in the coming years.
The US market dominated the North America Carbon Footprint Management Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $8,740.8 Million by 2029. The Canada market is poised to grow at a CAGR of 23% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 21.9% 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 U.S., Mexico, Canada, and Rest of North America.
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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