The global carbon management system market size is projected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the strict regulations and standard guidelines. In addition, strict compliance with carbon dioxide emissions regulations and increased government initiatives to reduce carbon dioxide emissions are driving the market.

Carbon management is a process of balancing environmental and business performance to maximize the company's operational efficiency and minimize the carbon footprint that ultimately leads to climate change. Carbon management system is used to measure or reduce carbon footprint and achieve company goals in accordance with government regulations. Carbon dioxide management software supports organizations to implement and plan their carbon management strategies. The main problem faced by most organizations around the world is increasing greenhouse gas emissions caused by their activities. This requires a huge effort to monitor, measure, and reduce emissions. Globally, the demand for carbon dioxide management software is increasing due to its direct benefits or positive impacts, such as improving operational efficiency, communicating business performance to stakeholders, differentiated operations, improving products and image, and cooperating.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing adoption of carbon footprint management in transportation sector is expected to boost the market during the forecast period.
- Rapid growth of the manufacturing industry is creating demand for carbon management systems as maximum carbon emission are from manufacturing sector.
- Stringent regulation and policies due to demand in rapid decarbonization is anticipated to drive the market during the forecast period.
- High investment required for restructuring the infrastructure for low emitting carbon plants is expected to hamper the market growth.
- Lack of awareness about effects of carbon emission and technologies for limiting carbon emission act as major challenges that can restrict the market growth during the forecast period.
- R&D investment and technological advancement in decarbonization methods is projected to offer significant opportunities for the market players.
Scope of the Report
The report on the global carbon management system market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Carbon Management Systems Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Offerings (Software and Services), Applications (Energy, Air Quality Management, Greenhouse Gas Management, Sustainability, and Others), and End Users (IT & Telecom, Healthcare, Manufacturing, Oil & Gas, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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SAP SE; ENGIE Impact; Simble Solutions Ltd.; Green Step Solutions Inc.; and IBM Corp.
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Market Segment Insights
The software segment is projected to represent a major market share
In terms of offerings, the carbon management system market is bifurcated into software and services. The software segment is expected to hold a key share of the market during the forecast period. Market participants face fierce competition, and carbon management is a strategy to maintain brand positioning this is due to various government initiatives aimed at maintaining environmental and corporate sustainability. In addition, automation and digital transformation are driving the carbon dioxide management software market. Another key factor is that fierce market competition has promoted the growth of the carbon management software market, leading to a decline in the price of carbon management software.
The energy segment is expected to grow at a robust CAGR
Based on applications, the carbon management system market is segregated into energy, air quality management, greenhouse gas management, sustainability, and others. The energy segment is expected to represent a key share of the market during the forecast period owing to energy efficiency is a growing concern for private companies and government agencies worldwide. Economic growth leads to high energy consumption and pushes the world's power grid to the limit. In addition, major countries have enacted regulations to improve energy efficiency. The development of events has forced companies to make decisions about energy efficiency. North America generates too much carbon, and its operating costs exceed 100 billion U.S. dollars per year. On the other hand, the green house gas segment is anticipated to expand at a rapid pace during the forecast period owing to companies and governments use greenhouse gas management software to manage, quantify, and understand greenhouse gas emissions. The software is able to create effective and credible plans to deal with the effects of climate change on a global scale. Increased global warming due to increased greenhouse gas emissions is the main driving force of the software on a global scale. Future work in the greenhouse gas management market is expected to include environmental impact, environmental hot spot detection, and climate change adaptation.

The oil & gas segment is anticipated to expand at a rapid pace
On the basis of end users, the carbon management system market is fragmented into IT & telecom, healthcare, manufacturing, oil & gas, and others. The oil and gas segment is expected to represent a key share of the market during the forecast period owing to hydrocarbons are one of the key economic factors driving globalization and industrial development. Oil and natural gas segment accounts for more than 50% of the world's energy consumption although global energy consumption is under great pressure. Energy demand, especially for transportation, heating and cooling, is expected to continue to rise. Oil & gas companies are implementing carbon management systems to monitor carbon emissions in the form of green gas and manage energy use.
North America is anticipated to dominate the market
On the basis of regions, the carbon management system market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period. The carbon management system market in the region remains an important market as commercial, residential, and industrial customers continue to push them to adopt energy-saving measures. The United States is currently the second largest electricity consumer after China. In addition, the introduction of the North American carbon management program is a key step in establishing airport carbon dioxide certification as a global standard for airport carbon dioxide management. The government's measures to reduce energy emissions from various old buildings and public buildings have also boosted market demand.

Segments
Segments Covered in the Report
The global carbon management system market has been segmented on the basis of
Offerings
Applications
- Energy
- Air Quality Management
- Greenhouse Gas Management
- Sustainability
- Others
End Users
- IT & Telecom
- Healthcare
- Manufacturing
- Oil & Gas
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- SAP SE
- ENGIE Impact
- Simble Solutions Ltd.
- Green Step Solutions Inc.
- IBM Corp.
Competitive Landscape
Key players competing in the carbon management system market include SAP SE; ENGIE Impact; Simble Solutions Ltd.; Green Step Solutions Inc.; and IBM Corp.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
