Carbon footprint is a measure of the total amount of greenhouse gases produced to directly or indirectly support given activities, which may either be human or machine oriented. This is usually expressed in equivalent tons of carbon dioxide (CO2). The global carbon footprint management market is made up by the solutions and services that help manage carbon footprint. Over the course of the last few years, the global footprint management market has grown substantially. Growing concerns about climate change, global warming and the need for an international agreement on carbon emission has directed the market’s growth.
The factors favorable for the global carbon footprint management market’s growth include the increased implementation of a standardized regulatory framework and government initiatives to promote low carbon emission policies. Growing concerns about enterprise sustainability and corporate social responsibility (CSR) programs among the corporates is expected to drive this market. The increasing implementation of analytics to use the insights from data and its associated processes for improved decision-making is also anticipated to drive this market.
The high cost associated with the replacement of existing infrastructure with greener and low carbon emitting infrastructure is expected to be one of the restraints on the growth of global carbon footprint management market. Lack of clarity about the regulatory landscape and strategic benchmarking is further expected to hamper growth. The high initial investment is expected to present barriers toward the entry of new players into this market.
The global carbon footprint management market is expected to witness immense growth opportunities from the modernization of IT and telecom infrastructure. Carbon footprint management, which is becoming increasingly important for energy-extensive industries, is anticipated to provide favorable avenues of growth in this market. The shift to ultra-low-emission transportation is also anticipated to favor market growth. Additionally, support for the carbon trading market is expected to provide opportunities for market growth.
The global carbon footprint management market can be segmented on the basis of type, deployment, industry vertical, and region. On the basis of type, the market can be segmented into software and service segments. The service segment can be further bifurcated into professional service and managed service. On the basis of deployment, the market can be divided into on-premise deployment and on-demand deployment. On the basis of industry vertical, the market can be divided into IT and telecom, manufacturing, commercial buildings, transportation, and other utilities. The manufacturing segment is expected to witness significant growth. On the basis of region the global carbon footprint management market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America is anticipated to hold a substantial market share in the foreseeable future, with growth largely attributable to a comparatively established regulatory framework and higher spending on carbon footprint management solutions. However, emerging markets such as South America and Asia Pacific are expected to show promising growth in the long run. This is due to the rapid industrialization, increased foreign investments, and government subsidies for carbon management programs in the region, supported by global bodies for environment protection.
The major players in the carbon footprint management market can be divided into two sub-categories. Software vendors, which include Thinkstep, Enablon, Ecova, Inc., ProcessMAP Corporation, Greenstone+, Verisae, Inc., and IHS Markit Ltd. Enviance, Schneider Electric SE, and FirstCarbon solutions make up the list of major service vendors for the carbon footprint management market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.