Carbon Management System Market Size, Share, Industry Trends and Forecast to 2030

Market Size & CAGR of Carbon Management System Market in 2021

The global carbon management system market had a market size of USD 10.5 billion in 2021. The market is expected to grow at a CAGR of 8% from 2021 to 2027, reaching a value of USD 17.3 billion by the end of the forecast period. The increasing adoption of carbon management systems across various industries to reduce carbon emissions and comply with environmental regulations is driving the market growth. The growing focus on sustainability and the rise in government initiatives to curb carbon emissions are also contributing to the market expansion.

COVID-19 Impact on the Carbon Management System Market

The COVID-19 pandemic had a mixed impact on the carbon management system market. On one hand, the temporary shutdown of industries and reduced economic activities led to a decrease in carbon emissions in the initial phase of the pandemic. However, the long-term effects of the pandemic, such as the shift towards remote work and increased use of single-use plastics, have raised concerns about a potential increase in carbon emissions. The uncertainty caused by the pandemic has also impacted investment decisions in carbon management systems, leading to a slight slowdown in market growth.

Carbon Management System Dynamics

The carbon management system market is driven by increasing regulatory pressure on industries to reduce carbon emissions and achieve sustainability goals. Companies are investing in carbon management systems to track, measure, and report their carbon footprint effectively. The growing awareness about climate change and the importance of reducing greenhouse gas emissions are also driving the demand for carbon management systems. Additionally, advancements in technology, such as artificial intelligence and machine learning, are enhancing the capabilities of carbon management systems, making them more efficient and accurate.

Segments and Related Analysis

By Solution

- Carbon Footprint Management
- Carbon Offset Management
- Carbon Trading Management

By Deployment

- On-Premises
- Cloud-based

By Vertical

- Energy & Utilities
- Manufacturing
- Transportation & Logistics
- IT & Telecom
- Others

By Region Analysis

The North America region dominated the carbon management system market in 2021, accounting for the largest market share. The presence of stringent environmental regulations and the high level of awareness about climate change in countries like the United States and Canada have contributed to the region's market leadership. The Asia Pacific region is expected to witness significant growth during the forecast period, driven by the rapid industrialization and increasing focus on sustainability in countries like China and India.

Key Market Players and Competitive Landscape

- IBM Corporation
- SAP SE
- Oracle Corporation
- Microsoft Corporation
- SAS Institute Inc.
- Schneider Electric SE
- Accenture PLC
- Siemens AG
- Carbon Clear Ltd
- IHS Markit Ltd

Recent Happenings in the Carbon Management System Market

- In September 2022, SAP SE announced the launch of a new carbon accounting solution to help businesses measure, monitor, and report their carbon emissions accurately.
- Microsoft Corporation introduced a new sustainability dashboard in August 2022, enabling organizations to track their carbon footprint and set reduction targets.
- Schneider Electric SE partnered with a leading energy company in July 2022 to implement an integrated carbon management system across its facilities, reducing operational carbon emissions.