Published Date: 20-Jan-2023
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According to a new report, published by KBV research, The Global ESG Reporting Software Market size is expected to reach $1.8 billion by 2028, rising at a market growth of 15.3% CAGR during the forecast period.
The Solution market acquired maximum revenue in the Global ESG Reporting Software Market by Component in 2021; thereby, achieving a market value of $1.4 billion by 2028. The companies would be able to gather ESG data more efficiently and determine impacts using various metrics that consider ESG standards. Many businesses have switched to software programs designed to aid with data management. Adopting the ESG reporting software solution is crucial since investors want transparent and trustworthy ESG reporting.
The SMEs market is exhibiting a CAGR of 17% during (2022 - 2028). ESG measures in SMEs aid in increasing effectiveness, lowering operating expenses, and increasing worker productivity. ESG reporting software is also gaining popularity among SMEs as the adoption of mandated ESG requirements becomes more critical.
The BFSI market is leading the Global ESG Reporting Software Market by Vertical in 2021; thereby, achieving a market value of $468.6 million by 2028. Major investors use ESG reporting to evaluate a company's ESG performance to see if it adheres to sustainability and social responsibility standards. In addition, investors are examining how well the business is identifying and addressing climate change-related problems.
The Cloud market is poised to grow at a CAGR of 17.3% during (2022 - 2028). As executives work to better understand various environmental and social risks, cloud-based reporting and data management can enhance ESG by automating procedures and standardizing the data, increasing transparency within the organization. Given the increased interest in creating measurements and controls for ESG reporting, all this is significant.
The North America market dominated the Global ESG Reporting Software Market by Region in 2021; thereby, achieving a market value of $613.1 million by 2028. The Europe market is anticipated to grow at a CAGR of 14.8% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 16.1% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Wolters Kluwer N.V., Nasdaq, Inc., Pricewaterhousecoopers LLP (PwC), Workiva, Inc., London Stock Exchange Group PLC (Refinitiv Company), Greenstone plus, Diligent Corporation, Sphera Solutions, Inc., Cority Software, Inc. (Thoma Bravo), Intelex Technologies, ULC (Industrial Scientific Corporation).
By Organization size
By Deployment Mode
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