Carbon Accounting Software Market Predicted to Achieve USD 95.47 Billion Value by 2032, With 21.4% Growth Rate | Polaris Market Research

New York, USA, Nov. 15, 2024 (GLOBE NEWSWIRE) — Market Overview:

The global carbon accounting software market size is projected to grow from USD 16.63 billion in 2023 to USD 95.47 billion by 2032, at a CAGR of 21.4%, according to a new report by Polaris Market Research.

Carbon accounting software is a specific platform that assists businesses in tracing, computing, and handling their greenhouse gas discharge and carbon footprint, easing ecological reporting, sustainability objectives, and conformity to discharge directives. It smoothens data gathering, analysis, and detailing to encourage transparency and improve investor conviction. As climate predicament escalates and the world transforms from an elective to a controlled reporting topography, manual carbon accounting is by no means a feasible alternative.

Key Insights from the Report:

• The market for carbon accounting software helps firms estimate, trace, and handle their greenhouse gas discharge.
• The carbon accounting software market segmentation is mainly based on deployment, end-use, and region.
• Based on deployment analysis, the cloud-based segment is expected to experience the highest CAGR during the forecast period.
• By region, the report provides market insights into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.

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Carbon Accounting Software Market Scope:

Market’s Growth Drivers:

Technological Progressions: The amalgamation of AI and ML technologies improves the preciseness and productivity of carbon accounting by mechanizing data gathering, analysis, and reporting procedures. The usage of these technologies is anticipated to be pursued as firms look for modern instruments to confirm to growingly strict ecological directives contributing to carbon accounting software market growth.

Surge in Scope 3 Emissions: Scope 3 discharge, which circumscribes all unintended discharges that take place through an organization’s value chain, frequently showcases the biggest allocation of a firm’s carbon footprint.

Rise in Cloud-Based Solutions: Cloud-based platforms provide superior ease of use, flexibility, and availability contrasted to conventional on-site solutions, rendering them especially alluring to firms with varied operations covering manifold locations.

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List of Carbon Accounting Software Market Key Players:

• SAP SE
• IBM Corporation
• Microsoft Corporation
• Salesforce
• Wolters Kluwer
• ENGIE Impact
• Schneider Electric
• Accenture
• Intelex Technologies

Geographical Analysis:

North America accounted for the largest carbon accounting software market share. Strict ecological directives covering the region and robust concentration on corporate sustainability practices are driving the market in the region.

Europe is also expected to grow at the highest CAGR during the forecast period. The regional expansion is due to its strong ecological directives and allegiance to obtaining aspiring climate targets.

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Market Segmentation:

By Deployment Outlook:

• Cloud-Based
• On-Premise

By End Use Outlook:

• Energy & Utilities
• IT & Telecom
• Healthcare
• Transportation & Logistics
• Retail
• Construction & Infrastructure
• Food & Beverages
• Chemicals
• Others

By Region Outlook:

• North America (US, Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Australia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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