Carbon Energy Software Market: Global Share, Size, Growth, Trends & Outlook ( 2022 – 2032 )
Brief Overview
Carbon and energy management is a process for managing business-related carbon emissions. Carbon management is applicable to a wide range of business activities, products, and services, and may vary depending on the size of the business and the sector. Carbon and energy software include software applications that provide services such as real-time metering, building simulation, and modelling, carbon sustainability reporting, utility bill tracking, and energy audits. Whether a business operates as a simple office environment, a manufacturing environment, or a large industry, carbon emissions will be produced. Carbon management applies to a wide range of business activities, products, and services, and may vary depending on the size of the business and the sector.
Global carbon and energy software market is anticipated to flourish at a CAGR of 15.9% during forecast period.
Market Insights
Digital transformation and automation in the energy sector
The digitalization of the energy sector in developed countries has created a high demand for IT solutions. Digitization is a key enabler of IT expenditure that drives the market for carbon and energy software management. Modernization of the energy sector has increased the use of energy analytics and the Internet of Things (IoT) to reduce energy consumption. This is expected to create new demand for smart connected devices, which in turn drives the market for carbon and energy management software.
Increase in Solar Energy Investments
The increasing need for energy is leading to the increasing adoption of solutions for green energy such as solar and wind. In countries such as Qatar, Saudi Arabia, Bahrain, Algeria, Egypt, Morocco, Libya, Jordan, Syria, Iraq, the UAE, and Kuwait, the drop-in installation costs of solar power plants have resulted in increased adoption of IT solutions. In order to help them manage, track, and optimize resources effectively, end-users of these renewable energy plants are aggressively integrating carbon and energy software into their systems.
In recent times, demand in the global market for carbon and energy software is set to rise at a robust pace. The need for energy audits throughout the industrial and commercial sectors have become a necessity. Increased adoption of sustainable technologies has led to the development of new construction and real estate sites, and this factor will be a game-changer for suppliers operating in the global market for carbon-energy software. Recent times have changed the dynamics of energy management and emission control across the industrial and residential sectors.
New opportunities for growth within the global carbon and energy software market have been created by the advent of smart city technologies across several countries. The need for efficiency and product development across grids and utility services has led to increased use of software for carbon and energy. This software has played a vital role in the reconciliation of different company’s energy dynamics.
Customers can choose between on-premise and hosted carbon and energy software solutions, depending on the specific requirements. Increased control of the on-site carbon and energy software solution’s information and greater privacy has led to greater adoption of these solutions across critical industries such as oil and gas, as well as energy and utilities. The increasing need for improved scalability and increasing internet penetration has led to the growing popularity of carbon and energy software solutions that are hosted or cloud-based. The growth of the hosted carbon and energy software market is expected to be driven by reduced initial investments and improved convenience.
Geographical Analysis
Due to the higher adoption of this software solution in the region, North America led the overall carbon and energy software market in terms of revenue in 2019. In 2019, Europe held the second-largest share of the overall carbon and energy software market in terms of revenue. The Asia Pacific carbon and energy software market is expected to grow significantly during the forecast period. The carbon and energy software market in this region is expected to be driven by increasing government activities to reduce carbon emissions and achieve higher energy efficiency. In addition, higher concentrations in the IT and telecommunications sectors in countries including China, India, Japan, and Indonesia provide immense opportunities for growth in the carbon and energy software market over the forecast period. Countries in the region of Latin America, including Brazil, Argentina, and Chile, were also identified during the forecast period as growth markets.
Competitive Analysis
The report also covers detailed competitive analysis of major market players of the global carbon and energy software market such as IBM Corporation, Intelex Technologies, Inc., CA Technologies Inc., ENABLON NORTH AMERICA CORPORATION, IHS Inc, Thinkstep AG, Schneider Electric, Carbon Clear, ENGIE Insight (formerly Ecova), Enviance Inc and other major & niche players. The global market for carbon and energy software is witnessing a wide range of industry activities such as product launch, innovation, acquisition, partnership, research & development, and expansion across the globe.
Segmentation
By Solution
- Carbon Management System
- Utility Billing System
- Customer Information System
- Demand Response Management
- Others
By Application
- Home Energy Management System
- Building Energy Management System
By Industry Verticals
- Power & Utilities
- Public Sectors
- Office & Commercial Building
- Industrial Manufacturing
- Oil & Gas
- Others
By Deployment
- On-premise
- Cloud-based
By Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa and Rest of the Middle East & Africa)
Competitive Landscape
The report profiles various major market players such as
- Enablon North America Corporation Inc.
- Intelex Technologies, Inc.
- CA Technologies Inc.
- IHS Inc
- Advanced Micro Devices
- Schneider Electric
- Carbon Clear
- ENGIE Insight (formerly Ecova)
- Enviance Inc
- Other Major & Niche Players
Competitive landscape analysis provides a detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development, and other market activities). The study also provides the company’s positioning and market share of the overall market.
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- Publication date: 20th September 2023
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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