Overview and Scope
Cloud carbon management systems are software platforms designed to help organizations measure, analyze, and mitigate carbon emissions and environmental impact through cloud-based solutions. These systems enable businesses to track their carbon footprint, identify improvement areas, and implement sustainability strategies.
Sizing and Forecast
The cloud carbon management system market size has grown rapidly in recent years. It will grow from $6.73 billion in 2023 to $7.41 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to growing environmental awareness, increasing carbon emissions, regulatory compliance pressure, rising energy costs, emergence of carbon pricing mechanisms. The cloud carbon management system market size is expected to see strong growth in the next few years. It will grow to $10.67 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.
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Segmentation & Regional Insights
The cloud carbon management system market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Applications: Large Enterprises, Small And Medium Enterprises (SMEs)
3) By Industry: Energy And Utilities, Manufacturing, Residential And Commercial Building, Transportation And Logistics, IT And Telecom, Other Industries
North America was the largest region in the cloud carbon management system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud carbon management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing industrial demand for energy consumption is expected to propel the growth of the cloud carbon management system market going forward. Energy consumption refers to the total amount of energy utilized by individuals, organizations, or systems within a specific timeframe, often measured in kilowatt-hours or joules. It arises due to expanding manufacturing activities, technological advancements requiring more energy-intensive processes, and population growth driving product demand. Cloud carbon management systems address industrial demand for energy consumption by providing tools and insights to optimize energy usage, reduce carbon emissions, and promote sustainability within industrial operations. For instance, in April 2023, according to a report published by the United States Energy Information Administration (EIA), a US-based statistical agency, between 2022 and 2050, residential consumption of purchased electricity is projected to rise by approximately 14% to 22%, reaching 5.9 to 6.3 quads, while electricity purchased for transportation, driven by increased adoption of electric vehicles (EVs), is expected to surge from 0.1 quads in 2022 to between 0.6 and 1.3 quads in 2050, marking a substantial 900% to 2,000% increase across all scenarios. Therefore, the growing industrial demand for energy consumption is driving the growth of the cloud carbon management system market.
Key Industry Players
Major companies operating in the cloud carbon management system market are Engie SA, The International Business Machines Corporation (IBM), Schneider Electric SE, SAP SE, Salesforce Inc., Enablon (Wolters Kluwer N.V.), IHS Markit, Trinity Consultants Inc., Enviance Inc., Thinkstep, Intelex Technologies ULC, Climeworks AG, IsoMetrix Software, Hara Software, Carbon Clean Solutions, Carbon Lighthouse, Locus Technologies, Energetics, EnergyCAP LLC, CarbonCure Technologies, FirstCarbon Solutions, Envirosoft Corporation, Carbon Footprint Ltd., Climate Earth, Greenstone+, Native Energy, Dakota Software, ESP (New Zealand Green Investment Finance), COzero, Ecometrica
The cloud carbon management system market report table of contents includes:
1. Executive Summary
2. Cloud Carbon Management System Market Characteristics
3. Cloud Carbon Management System Market Trends And Strategies
4. Cloud Carbon Management System Market – Macro Economic Scenario
5. Global Cloud Carbon Management System Market Size and Growth
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36. Appendix
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