“Standardized regulatory framework and carbon footprint management policies and increasing cost & demand for the primary energy sources across the globe are some of the factors expected to drive the carbon footprint management market.”
The carbon footprint management market size is estimated to grow from USD 7.76 billion in 2016 to USD 12.94 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.8% due to the increased implementation of carbon footprint management strategies by enterprises owing to regulatory framework and carbon footprint management policies, enterprise sustainability, and CSR programs, and increasing concern for reducing carbon footprints. Replacing the existing buildings with greener and smart buildings that emit low carbon is the major restraint for the carbon footprint management market, whereas, the enterprises struggle to understand and adopt the changes in the regulatory frameworks restricting them to set appropriate carbon emission targets in the future.
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“Manufacturing sector is estimated to be the largest-growing market segment.”
The major industries implementing carbon footprint management are IT and telecom, commercial buildings, transportation, utilities, and manufacturing sectors. The manufacturing sector is the top revenue generating industry vertical for the carbon footprint management market and is expected to show the highest growth rate during the forecast period. According to Intergovernmental Panel on Climate Change (IPCC), the manufacturing sector accounts for 21% of global Greenhouse Gas (GHG) emission (excluding emission from industrial electricity consumption) and use significant amount of energy such as water, air, electricity, gas, and steam to produce goods of daily life. For environmental concern and cost-effectiveness, manufacturing industries need to efficiently manage (monitor and control) their carbon footprints. As a result, to address climate change, carbon footprint management has become an important measure for manufacturers to examine and reduce their carbon emission efficiently. Hence, the global manufacturing industries have been actively investing in carbon management, to achieve the target of almost 50% reduction in carbon footprint.
“North America is estimated to have the largest market share during the overall forecast period.”
North America is expected to hold the largest share of the carbon footprint management market in 2016 due to the region being technologically advanced and the increasing spending on carbon footprint management programs along with regulatory government mandates in the U.S. and Canada related to carbon reporting for the enterprises. Latin America is expected to grow at the highest growth rate during the forecast period due to various government subsidies and benefits for carbon management, increased foreign investments, rapid industrialization, and major export projects.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key industry personnel.
The break-up profile of primary discussion participants is given below.
• By Company Type: Tier-1 (19%), Tier-2 (37%), and Tier-3 (44%) companies
• By Designation: C-level (59%) and Manager Level (41%)
• By Region: North America (47%), Europe (25%), APAC (22%), and Rest of World (6%)
The various key carbon footprint management vendors profiled in the report are as follows:
- Schneider Electric SE (France)
- Enablon (U.S.)
- IHS Markit (U.K.)
- Verisae (U.S.)
- Ecova (U.S.)
- Thinkstep (Germany)
- FirstCarbon Solutions (U.S.)
- processMAP (U.S.)
- Greenstone+ (U.K.)
- Enviance (U.S.)
Related Report:
Energy Management System (EMS) Market by Software (Utility Industrial Residential ECEM) Device (In-House Display Smart Thermostat Smart Plug and Load Control Switches) Application Solution Vertical - Global Forecast to 2021
“Mandatory regulations and policies for energy management and government’s initiatives for digitation of energy infrastructure across the globe are some of the factors expected to drive the Energy Management System (EMS) market”
The EMS market size is estimated to grow from USD 32.41 billion in 2016 to USD 76.75 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 18.8 % due to the mandatory regulations and policies, need for centralized energy management and control, increasing demand for home energy management and building energy management solutions, and increasing concern for reducing carbon footprints.
“Office and commercial building sector is estimated to be the fastest-growing market segment”
The major industries implementing EMS are power and energy, telecom and IT, office and commercial buildings, and manufacturing sectors. The manufacturing sector is the top revenue generating industry vertical for the EMS market. The offices and commercial building sector is expected to show the highest growth rate during the forecast period due to increasing awareness for carbon footprint management, advantages of building automation technology, tax benefits for energy efficiency certification in this sector.
Read More: https://watchersofmarkets.com/products/energy-management-system-ems-market-by-software-utility-industrial-residential-ecem-device-in-house-display-smart-thermostat-smart-plug-and-load-control-switches-application-solution-vertical-global-forecast-to-2021
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