Research Nester released a report titled “Emissions Management Software Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global emissions management software in terms of market segmentation by product type, end-use, application, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The emissions management software market is projected to grow with a moderate CAGR during the forecast period, i.e., 2022-2030, due to increasing air toxins from industries and stringent emission control regulations. Energy efficiency is increasingly becoming the primary focus of both private enterprises and government authorities across the globe. The increasing economic activities have led to high energy consumption rates and pushed global electricity grids to their limits. For instance, the Energy Efficiency Directive established measures to assist the EU reach a 20% energy efficiency target by 2020, which was then amended in 2018 with an energy efficiency target for 2030 for at least 32.5%. Such developments within regions are forcing businesses to adopt energy efficiency solutions, which are estimated to boost the market growth. The other factor accelerating the demand for emission management software is the need for better brand positioning. Players within the market invariably face intense competition, and carbon management is one tactic to maintain brand positioning. This is projected to increase the demand for emission management software.
The emission management software market is segmented by end-use into oil & gas, energy & utility, food & beverages, power generation, chemical & mining, leather & textile, coal & mining, and others. The energy & utility segment is anticipated to hold the largest share by the end of 2030 in the emissions management software market. Energy consumption has increased globally to approximately twice the average growth rate since 2010 owing to the robust increment in global economy and higher heating and cooling needs across few parts of the world. The demand for fossil fuels, natural gas, solar, and wind energy has seen double-digit growth in the last few years, owing to higher electricity demand, energy needs also witnessed a surge.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the emissions management software market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period owing to the rapid digitalization and rise in technologies. Moreover, the adoption and the rising demand for clean and renewable energy is estimated to boost the market growth in the region. Additionally, the market in North America is estimated to attain the largest share during the forecast period. This can be attributed to the increasing adoption of cloud-based emissions management techniques by various industries globally, especially in the United States. They are extensively involved in the improvement of end-user experience through their adoption of advanced technologies.
Adoption of Advanced Technologies, such as AI, IoT, and Big Data, Across Industries to Drive Market Growth
According to the India Brand Equity Foundation, the revenue generated by the IT & BPM industry is approximately US$ 194 billion in FY21, witnessing an increase of 2.3% YoY. Artificial Intelligence (AI) is anticipated to enhance India’s annual growth rate by 1.3% by 2035, as per NITI Aayog.
Increasing penetration of digital technology is one of the major factors driving the market growth. Various nations are adopting sustainability and climate change as part of their monetary stimulus packages. For instance, Germany’s corona restoration package of EUR 50 billion is for growing technologies like digitalization collectively with climate-friendly technologies like hydrogen and e-mobility infrastructure and low-carbon buildings. Such traits are projected to push the adoption of emissions management software amongst enterprises. However, high initial investment is the biggest restraint to the market growth.
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This report also provides the existing competitive scenario of some of the key players of the global emissions management software market which includes company profiling of Metrix Software Solutions (Pty) Ltd., Schneider Electric, Intelex Technologies, SAP SE, Wolters Kluwer N.V., Dakota Software Corporation, Envirosoft, Accuvio, NativeEnergy, and EnergyCAP, LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global emissions management software market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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