The global carbon footprint management market is anticipated to grow at a considerable CAGR of 6.9% during the forecast period. A carbon footprint is the total greenhouse gas (GHG) emissions caused by an individual, event, organization, service, or product, expressed as carbon dioxide equivalent. Calculation of carbon footprint can be done ranging from a single person to the entire globe, based on multiple factors. The emergence of various applications and tools for the calculation of carbon footprint is creating awareness and sensitizing people regarding their carbon footprint. For instance, in January 2023, Leading Geographic Information System (GIS) solutions provider Esri India announced the launch of an app –‘Carbon Jagruk’ or ‘CarbonAware’– in Hindi and English to enhance awareness about carbon footprint at an individual level. The apps enable citizens to estimate and reduce their carbon footprint.
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Also, in December 2022, Startup firm Myplan8 launched an application to sensitize people about their carbon footprint and help reduce emissions. The application helps track the carbon footprint caused by day-to-day lifestyle, regular travel, and food consumption habit. Also, global commitment and actions to limit the rise in global temperature to 1.5°C and evert the effects of climate change are growing which is fueling the growth of the market. For instance, in August 2022, The Union Cabinet approved India’s updated Nationally Determined Contribution (NDC) to be communicated to the United Nations Framework Convention on Climate Change (UNFCCC). As per the updated NDC, India now stands committed to reducing the Emissions Intensity of its GDP by 45 percent by 2030, from the 2005 level, and achieving about 50 percent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030. Also, in April 2021, The EU adopted ambitious new targets to curb climate change, with a pledge to make them legally binding. Under a new law agreed between member states and the EU Parliament, the bloc will cut carbon emissions by at least 55% by 2030, compared with 1990 levels.
Global Carbon Footprint Management Market Report Segment
By Component
- Solutions
- Services
By Mode of Deployment
- Cloud
- On-Premises
By Vertical
- Manufacturing
- Energy and Utilities
- Residential and Commercial Buildings
- Transportation and Logistics
- IT and Telecom
- Financial Services
- Government
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Carbon Footprint Management Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Accuvio Ltd.
- Carbon Footprint Ltd
- Dakota Software Corp.
- ECOtrack, LLC
- Enablon SA
- Enablon SAS
- EnergyCAP, Inc.
- ENGIE SA
- Environmental Systems Products Holdings Inc.
- Envirosoft Corp.
- Intelex Technologies Inc.
- International Business Machines Corp. (IBM)
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