NEW YORK, May 20, 2022 – According to the report “Carbon Accounting Software Market by End-user and Geography – Forecast and Analysis 2022-2026”, the market will witness a YOY growth of 26.97% in 2022 and a CAGR of 28.66% during the forecast period. The report is segmented by end-user (oil and gas, telecommunication, technology, power and utilities, and others) and geography (North America, Europe, APAC, MEA, and South America)
The carbon accounting software market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
Carbon Analytics Ltd.CarbonetiXENGIE SAGreenstep OyIntelex Technologies Inc.Lisam Systems SASAP SESIERRA ODC Pvt. Ltd.Simble Solutions Ltd.Wolters Kluwer NV
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Geographical Market Analysis
North America will provide maximum growth opportunities in the carbon accounting software market during the forecast period. According to our research, the region will contribute to 37% of the global market growth. The US is a major country for the carbon accounting software market in North America. Concerns among corporations regarding increasing CO2 emission rates will drive the carbon accounting software market growth in North America during the forecast period.
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Key Segment Analysis
The oil and gas segment will have significant market share growth during the forecast period. Oil and gas enterprises need carbon accounting software to account for and report carbon emissions from various stages of their value chain.
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Key Market Drivers & Challenges:
The need to reduce the overall costs incurred by enterprises is driving the carbon accounting software market. The use of carbon accounting can help enterprises identify business activities that use more energy, which helps reduce the use of energy as well as resources. Thus, measuring the carbon footprint helps in reducing the overall costs incurred by enterprises.
The difficulty in capturing energy usage data will challenge the carbon accounting software market during the forecast period. However, most organizations rarely track their energy usage. Estimating the use of energy by equipment such as chillers, trucks, fleets, remote offices, and generators is complex and time-consuming.
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