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Carbon Management System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Carbon Management System Market is segmented by Offering (Software, Services), Application (Energy, Greenhouse Gas Management, Air Quality Management, Sustainability), End-user Verticals (Oil and Gas, Manufacturing, Healthcare, IT and Telecom), and Geography.

Market Snapshot

carbon management software market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 12.31 %

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Market Overview

The Carbon Management System Market was valued at USD 10.93 billion in 2020, and it is projected to be worth USD 19.83 billion by 2026, registering a CAGR of 12.31% during 2021-2026. COVID-19 has exposed vulnerabilities in various industries, and climate concern among consumers has increased exponentially, pushing companies to opt for sustainable solutions. The climate crisis is seen as equally important to deal with, and people expect the eventual economic upturn to not be at the expense of climate protection.

Various governments are adopting sustainability and climate change as part of their financial stimulus packages. For instance, Germany's corona recovery package of EUR 50 billion is for developing technologies such as digitalization in combination with climate-friendly technologies such as hydrogen and e-mobility infrastructure and low-carbon buildings. Such developments are expected to push the adoption of solutions that help manage carbon footprint among enterprises.

  • Many institutions and organizations are multiplying their conservation efforts and gradually adopting measures that provide in-depth knowledge of greenhouse gases' dynamics and impacts. Considering this context, the carbon footprint is one of the most widely recognized indicators in the international sphere.
  • The major driving force for the market is the introduction of various carbon emissions policies due to the demand for rapid decarbonization. The Carbon Research Management Initiative (CaMRI) is the latest program at the Center on Global Energy Policy (CGEP) that focuses on speeding up decarbonization and reducing the impact of climate change through carbon management.
  • Since the renewal of global commitments to tackle climate change with the December 2015 Paris Agreement, only 70 countries out of the 197 signatories have defined national climate plans (NDCs) ambitious enough to meet their pledges, as of 2020.
  • At the 2019 Climate Action Summit, about 75 countries had pledged to deliver a net-zero emissions strategy for 2050 by the end of 2020. About 47 least developed countries have pledged to deliver net-zero greenhouse gases (GHG) emissions strategy by 2050. The aim to achieve net-zero GHG emissions was aided by a combined investment of USD 2.3 trillion and asset owners controlling assets worth over USD 2 trillion by both governments and private sectors, including businesses.

Scope of the Report

Carbon management is the process of managing the carbon emissions associated with a business. Carbon management is applicable to a wide variety of business activities, products and services and can vary depending on the size of the business and the sector an enterprise operates in. The scope of the study for carbon management systems market has considered both of the offerings in the form of software and services by the vendors and their respective applications in a wide range of end-user verticals globally. The end users can use it as an application for integrated solution or can use an individual application and are reflecetd in the estimation for the market under application segment.

Offering
Software
Services
Application
Energy
Greenhouse Gas Management
Air Quality Management
Sustainability
Other Applications
End-user Verticals
Oil and Gas
Manufacturing
Healthcare
IT and Telecom
Other End-user Verticals
Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa

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Key Market Trends

Energy Sector to Witness Significant Growth

  • These systems helps in managing the carbon emissions cost-effectively with wide range of functionalities that are aimed at monitoring and reducing emissions from the energy and fuel that are being used in multiple areas such as buildings and fleets. These systems primarily aims to reduce the energy cost and carbon emissions while meeting the carbon legislation and helping organizations in moving towards a greener future.
  • Energy efficiency is increasingly becoming the major focus of both private enterprises and government authorities across the globe. The increasing economic activities have to lead to high energy consumption rates and pushed global electricity grids to its limits.
  • Energy consumption is expected to further increase over the coming years; according to the United States, Energy Information Administration, the worldwide energy consumption is anticipated to grow by around 50% during 2018-2050, with the Asian region being the major consumer of energy over the years.
  • In order to enhance their energy efficiency, major economies have already formed regulations, and other countries are following suit. For example, the Energy Efficiency Directive established measures to help the EU reach a 20% energy efficiency target by 2020, was then amended in 2018 with an energy efficiency target for 2030 for at least 32.5%. Such developments in the regions are forcing businesses to adopt energy efficiency solutions.
  • According to the data from the Department of Energy, buildings account for 40% of US energy use and waste 30% of the energy they consume. Altogether that is a massive amount of the annual energy used and wasted, and excess carbon produced in the North American region, reaching over USD 100 billion in operational costs per year.
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Middle East and Africa Region is Expected to Grow Significantly

  • All the major countries in the MENA region have allocated substantial outlays for the development of solar or wind-based renewable energy projects. The Gulf Cooperation Council (GCC) countries figure prominently being generating over 4200 metric ton of carbon dioxide. Increasing the share of renewable energy is being seen as a solution toward reducing CO2 emissions and maintaining the fragile environmental balance in this region.
  • Energy consumption in the MENA region has proliferated over the last few decades, partly due to the high economic growth and the marked increase of urbanization. According to MOSPI India, the growth in production of natural gas from 2016 to 2017 was the highest in the Middle East (3.6%), followed by the Asia-Pacific (3.2%), Europe & Eurasia (0.5%).
  • Regional consumption of electricity is estimated to grow at an annual rate of 8% over the forecast period. Therefore, regional governments and public organizations have initiated several proactive steps over the last few years to increase the renewable energy infrastructure and cut down on greenhouse gas emissions.
  • Currently, the MENA region is shifting its focus toward renewables as a means of diversifying its mix of power generation. The region has an attractive market for renewables due to the abundant availability of solar, wind resources, and nuclear power. Between 2018 and 2022, Arab Petroleum Investment Corporation (APICORP) estimates that MENA power capacity is expected to expand by an average of 6.4% per year, corresponding to additional capacity of 117 gigawatts (GW) to meet increases in demand.
Carbon Map.png

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Competitive Landscape

The market for carbon management systems is inclining towards fragmentation with the increase in the number of players offering software for monitoring and management. This increase in number proliferating due to the rise in the adoption of cloud services. Whereas, the companies providing services in terms of consultation is showing steady growth and is expected to follow the similar trend in the forecast period.

  • October 2020 - Kayentis, a global provider of eCOA (electronic Clinical Outcome Assessment) solutions for clinical trials, announced the launch of a set of initiatives to evaluate the carbon footprint of each clinical trial services project it conducts and propose solutions to clients on limiting the CO2 emissions of their projects. Kayentis’ new carbon-neutral program initiatives aim to raise awareness among their clientsabout the carbon footprint of their clinical trial projects and to propose solutions.

Recent Developments

  • February 2021 - Newlight Technologies’ fashion brand Covalent announced it would implement blockchain technology for its carbon-negative fashion accessories line. The sunglasses and leather wallets appear to use synthetic plastics but are made of AirCarbon, a natural biodegradable polymer, PHB. Cognition Foundry developed the blockchain solution on the IBM Blockchain Platform.
  • December 2020 - Simble Solutions opened up new markets through its Cognian partnership. The agreement allows Cognian and Simble to promote the SimbleSense platform as its default energy measurement and verification platform for all smart buildings in which the Syncromesh wireless smart building canopy is deployed. The Simble Energy Platform or ‘SimbleSense’ is an integrated hardware and real-time software solution that enables businesses to visualize, control, and monetize their energy systems.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions​ and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.2.1 Threat of New Entrants

      2. 4.2.2 Bargaining Power of Buyers/Consumers

      3. 4.2.3 Bargaining Power of Suppliers

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Market Drivers

      1. 4.3.1 Increasing Environmental Concerns and Growing Focus on Reducing Carbon Footprints

    4. 4.4 Market Restraints

      1. 4.4.1 Managing Variable Energy and Resource Demands

    5. 4.5 Assessment of Impact of COVID-19 on the Carbon Management System Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 Offering

      1. 5.1.1 Software

      2. 5.1.2 Services

    2. 5.2 Application

      1. 5.2.1 Energy

      2. 5.2.2 Greenhouse Gas Management

      3. 5.2.3 Air Quality Management

      4. 5.2.4 Sustainability

      5. 5.2.5 Other Applications

    3. 5.3 End-user Verticals

      1. 5.3.1 Oil and Gas

      2. 5.3.2 Manufacturing

      3. 5.3.3 Healthcare

      4. 5.3.4 IT and Telecom

      5. 5.3.5 Other End-user Verticals

    4. 5.4 Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia Pacific

      4. 5.4.4 Latin America

      5. 5.4.5 Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles*

      1. 6.1.1 Simble Solutions Ltd

      2. 6.1.2 IBM Corporation

      3. 6.1.3 ENGIE Impact

      4. 6.1.4 GreenStep Solutions Inc.

      5. 6.1.5 SAP SE

      6. 6.1.6 Enablon SA

      7. 6.1.7 IsoMetrix

      8. 6.1.8 Schneider Electric SE

      9. 6.1.9 Salesforce.com Inc. 

      10. 6.1.10 Greenstone+ Ltd

      11. 6.1.11 Microsoft Corporation 

      12. 6.1.12 Sphera

  7. 7. INVESTMENT ANALYSIS

  8. 8. FUTURE OF THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Carbon Management System Market market is studied from 2018 - 2026.

The Carbon Management System Market is growing at a CAGR of 12.31% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

IBM Corporation, GreenStep Solutions Inc., SAP SE, Simble Solutions Ltd, Engie Impact are the major companies operating in Carbon Management System Market.

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