Home Technology Carbon Management System Market Growth, Latest Trend Analysis and Forecast 2032

Carbon Management System Market Size, Share & Trends Analysis Report By Offering (Software, Services), By Applications (Energy, Greenhouse Gas Management, Air Quality Management, Sustainability, Other Applications), By End-User Verticals (Oil and Gas, Manufacturing, Healthcare, IT and Telecom, Other End-user Verticals) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Report Code: SRTE2810DR
Last Updated : 05,Aug 2024
Author : Straits Research
Starting From
USD 1850
Buy Now

Market Overview

The global carbon management system market size was valued at USD 14.19 billion in 2023 and reached USD 16.00 billion in 2024. It is projected to reach USD 41.94 billion by 2032, growing at a CAGR of 12.80% during the forecast period (2024-2032).

Carbon management technologies work to control anthropogenic greenhouse gas emissions, such as those brought on by the burning of fossil fuels, to lessen their potential effects on climate systems. Energy efficiency and carbon footprint decrease due to the transition to more circular and sustainable modes of production and consumption. Additionally, as digital platforms play a more significant role in society, new services and applications that help society consume less energy, spend less money, and leave a smaller carbon footprint are being developed. The organization monitors four significant sources of carbon footprint with the aid of the analytics software made possible by SAP S/4HANA and SAP analytics cloud: acquired goods, energy (used for industrial processes), direct emissions, and outbound transport.


Market Dynamics

Global Carbon Management System Market Drivers

Rising Economic Worries and Reducing Carbon Footprints

Businesses are trying to adapt their business models to be more sustainable and becoming more concerned with lowering their carbon footprints. For instance, in August 2019, the Business Roundtable, composed of CEOs from large US firms, pledged to revise the definition of a corporation and debate the common belief that a company's primary purpose is to increase profits for its shareholders. A majority of the executives also agreed that "embracing sustainable methods" is essential for protecting the planet.

Businesses are scrutinizing the future viability of their business models and putting sustainability at their center. According to a Ramboll study, over 95% of the organizations surveyed said that sustainability is a critical component of long-term economic performance, indicating that this concept is broadly accepted in the business world. It has been demonstrated that businesses can draw new customers who wish to purchase goods and services from an environmentally friendly company by promoting environmentally friendly practices. Additionally, several government restrictions are compelling companies to reduce their carbon footprints, helping to drive demand for carbon management products.

Global Carbon Management System Market Restraint

Variable Energy and Resource Demand Management

The ongoing transformation of the electric power business, with North America and Europe at the forefront of the new changes, prepares the way for distributed energy resources on electric grids worldwide. Given that leaders must perform resource capacity planning, resource management is one of the most important investments made by an organization. It will enable them to use their resources wisely and effectively. It is accurate, especially for businesses dealing with a globally competitive and erratic market.

Enterprises view managing variable energy resources, such as wind and solar energy, as problematic. Planning and corporate-wide commitment are necessary to reduce total energy usage successfully. For example, incorporating variable energy supplies necessitates higher investment in infrastructure and network setup. Large organizations also tend to develop their resource networks, which have longer ROIs, discouraging smaller businesses from adopting them.

Global Carbon Management System Market Opportunities

Shifting Trend toward Green Initiatives

The trend toward green activities brings about opportunities in the market. Green energy helps reduce the harmful impacts of greenhouse emissions (GHG). Renewable resources are used to produce green energy. Organizations can receive a thorough report from carbon management software on the quantity of carbon dioxide produced per unit of production. Data on carbon emissions are tracked, measured, planned, stored, and reported to assist organizations. Additionally, it aids in bringing attention to the adverse effects of GHG emissions.

Study Period 2020-2032 CAGR 12.80%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD 14.19 Billion
Forecast Year 2032 Forecast Year Market Size USD 41.94 Billion
Largest Market North America Fastest Growing Market Europe
Talk to us
If you have a specific query, feel free to ask our experts.

Regional Analysis

North America Dominates the Global Market

The global carbon management system market is divided into four regions, namely North America, Europe, Asia-Pacific, and LAMEA. 

North America is the most significant shareholder in the global carbon management system market and is anticipated to expand at a CAGR of 12.85% over the forecast period. Newlight Technologies' fashion label Covalent recently disclosed plans to employ blockchain technology to develop a line of carbon-neutral fashion accessories. The leather wallets and eyeglasses appear to be made of synthetic plastics, but they are constructed of PHB, a natural biodegradable polymer called AirCarbon. On the IBM Blockchain Platform, Cognition Foundry created the blockchain solution. Additionally, Canada's Minister of Natural Resources announced an investment of USD 1.8 million in energy efficiency systems in Alberta to support carbon management for institutional and commercial establishments in Alberta that are working to reduce pollution.

Europe is anticipated to grow at a CAGR of 12.45% generating USD 8.57 billion during the forecast period. According to a UK government order, energy providers must install smart meters in 26 million households. The main forces supporting the development of home carbon management systems in the country have been the European mandate to reduce carbon emissions by 80% by 2050 and the rising awareness of the energy issue. The Department of Energy and Industrial Policy oversees the nation's well-defined rollout plan. The National Audit Office (NAO) estimates that the UK will finish installing smart meters by 2020. By 2018, more than 12.5 million smart meters were installed in the UK.

By developing new technologies, regulations, and strategies, universities in the Asia-Pacific intend to contribute to the reduction of greenhouse gas emissions. As part of the "Zero-Carbon Energy for the Asia-Pacific" grand challenge effort, Australian National University will contribute USD 10 million from 2019 to 2023. The objective is to support an effective and long-lasting switch to zero-carbon energy in the Asia-Pacific region. The ultimate goal is to completely change Australia's international trade through the growth of zero-carbon export sectors. China is expanding its electric vehicle sector quickly to boost energy efficiency. With a USD 10 million investment in the NIO Capital fund, British Petroleum is helping to drive this transition. The fund is anticipated to assist in developing potential for advanced mobility, such as electric vehicles, new energy infrastructure, and batteries.

LAMEA is anticipated to grow significantly during the forecast period. Ennomotive, an open innovation platform, is helping Acciona, a pioneer in producing renewable energy, launch Innovation in Chile, the company's open innovation program. In order to reduce carbon emissions and boost the effectiveness of distributed generating grids in Chile, the company is searching for ways to enhance the operation and upkeep of thermal solar power facilities.

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports


Segmental Analysis

The global carbon management system market is segmented by offering, application, and end-user verticals.

Based on the offering, the global carbon management system market is bifurcated into software and services.

The software segment is the highest contributor to the market and is expected to grow at a CAGR of 12.20% during the forecast period. The introduction of analytics and big data in carbon management has made it possible to optimize carbon performance management even further. Additionally, technological developments in the software industry have made it possible to track and analyze performance at the level of the individual meter, both top-down and bottom-up. Green Step Solutions Inc. uses EcoBase Carbon Software to calculate the carbon footprint. The company offsets its unavoidable carbon emissions, and Offsetters has certified them as carbon neutral. Various enterprises in Canada and the United States have expressed interest in the company's carbon-based software, which provides comprehensive solutions and insights for major corporations.

Engine assists businesses in utilizing carbon management services, demonstrating their dedication to lowering carbon emissions, and appropriately disclosing their Environmental, Social, and Governance (ESG) statistics. Additionally, services based on predictive maintenance for carbon management systems are becoming more popular. IoT-based predictive maintenance keeps an eye on and regulates the equipment's operational state and guides the tasks that need to be carried out to keep various machines working at their best. Additionally, the market for carbon management consulting services is growing. Energy audits, energy and utility management strategy development, and assisting clients with tender tracking and management are all examples of service segments.

Based on application, the global carbon management system market is bifurcated into energy, greenhouse gas management, air quality management, sustainability, and others.

The energy segment owns the highest market share and is expected to grow at a CAGR of 12.80% during the forecast period. In order to lessen the possible effects of these emissions on the climate, carbon management systems are also primarily used to control the anthropogenic release of greenhouse gases, such as those associated with the combustion of fossil fuels. Reduced greenhouse gas emission is a critical strategy for combating climate change, which is why a carbon management system depends on it. Information on greenhouse gas emissions from various sources is crucial for identifying trends, examining claims of emissions reductions, and formulating carbon management policies.

Numerous processes, such as burning waste crops, car fumes, construction dust, and industrial emissions, harm the air daily. Large amounts of dangerous pollutants have been produced due to these circumstances, which has led to various issues. The primary purpose of air quality management systems, which are in high demand worldwide, is to collect data on pollution levels that can then be utilized to develop additional management plans. A study supported by the National Institute of Environmental Health Sciences (NIEHS) found that decreasing global greenhouse gas emissions that would moderate climate change could also avert millions of premature deaths caused by air pollution over the following century.

Based on end-user verticals, the global carbon management system market is bifurcated into oil and gas, manufacturing, healthcare, IT and telecom, and others.

The oil and gas segment is the highest contributor to the market and is expected to grow at a CAGR of 12.90% during the forecast period. BP PLC has announced that it will compensate for any increase in greenhouse gas emissions over a 2015 baseline that cannot be mitigated through reductions, including SERs. At BPX Energy's onshore facilities in 2019, efforts were made to reduce fugitive emissions and methane escaping from machinery. In addition, fuel savings were achieved by implementing compressor improvement measures. Compared to 2016 levels, ExxonMobil aims to lower the intensity of operating upstream greenhouse gas emissions by 15 to 20 percent by 2025. This will be aided by a 40–50% reduction in methane intensity and a 35–45% reduction in flaring power across all its operations worldwide.

Bosch has set a goal of becoming carbon-neutral by 2030 and investing in infrastructure, new buildings, renewable energy sources, and green electricity. It has set aside almost a billion euros to improve the energy efficiency of its production facilities. One of New Zealand's largest manufacturing companies, Sistema Plastics Ltd, has committed to reducing carbon emissions by becoming certified under the CARS program. For a future with reduced carbon emissions, green or carbon-efficient manufacturing is posing as a critical option. For example, Portland cement is being replaced with lumber or concrete based on pozzolan in the construction industry to reduce pollutants.

Market Size By Offering

Market Size By Offering
  • Software
  • Services

  • Impact of covid-19

    The automotive industry is critical to the economy's growth. However, during the second and third quarters of 2020, the COVID-19 outbreak impacted the whole automotive supply chain, affecting new car sales in FY 2020.

    South America is most affected by COVID-19, with Brazil leading the way, followed by Ecuador, Chile, Peru, and Argentina. South America's government (SAM) has taken a number of steps to protect its citizens and stem the spread of COVID-19. South America is expected to have fewer export revenues as commodity prices fall and export volumes fall, particularly to China, Europe, and the United States, which are all significant trading partners. The manufacturing industry, especially automotive manufacturing, has been damaged by containment measures in various South American countries. Due to the pandemic, major automotive manufacturers have also temporarily halted manufacturing in the region as a cost-cutting move. Furthermore, the automobile disc brake industry has been significantly affected in 2020 due to a lack of raw materials and supply chain disruption.

    The Automotive Brake System control module of a vehicle is meant to alert the driver with a warning light if the system fails. The module itself is rarely defective; instead, the sensors or the wiring to the sensors are frequently defective. The most typical cause of dysfunction is when the Automotive Brake System is contaminated with particles or metal shavings. There is no signal continuity when sensor wiring is destroyed. Brake fluid becomes contaminated in corrosive situations, and the hydraulic unit fails to function.


    List of key players in Carbon Management System Market

    1. Simble Solutions Ltd
    2. IBM Corporation
    3. ENGIE Impact
    4. GreenStep Solutions Inc.
    5. SAP SE
    6. Enablon SA
    7. IsoMetrix
    8. Schneider Electric SE
    9. com Inc.
    10. Greenstone Ltd
    11. Microsoft Corporation

    Carbon Management System Market Share of Key Players

    Carbon Management System Market Share of Key Players

    Recent Developments

    • July 2022- For industrial businesses and their supply chain partners, Gravity Climate launched its carbon management software, or "GRAVITY," which will assist them in managing their carbon footprint while promoting efficient decarbonization and long-term profitability.
    • June 2022- The global launch of Energy Expert, a sustainability platform created to help users worldwide measure, analyze, and manage the carbon emissions of their business activities and goods, was announced by Alibaba Cloud, a division of Alibaba Group. Additionally, the software-as-a-service options give clients helpful information and suggestions for conserving energy to speed up their sustainability journeys.

    Carbon Management System Market Segmentations

    By Offering (2020-2032)

    • Software
    • Services

    By Applications (2020-2032)

    • Energy
    • Greenhouse Gas Management
    • Air Quality Management
    • Sustainability
    • Other Applications

    By End-User Verticals (2020-2032)

    • Oil and Gas
    • Manufacturing
    • Healthcare
    • IT and Telecom
    • Other End-user Verticals

    Frequently Asked Questions (FAQs)

    What is the estimated growth rate (CAGR) of the Carbon Management System Market?
    The global carbon management system market size was valued at USD 14.19 billion in 2023 and reached USD 16.00 billion in 2024. It is projected to reach USD 41.94 billion by 2032, growing at a CAGR of 12.80% during the forecast period (2022-2032).
    Some of the top prominent players in Carbon Management System Market are, Simble Solutions Ltd, IBM Corporation, ENGIE Impact, GreenStep Solutions Inc., SAP SE, Enablon SA, IsoMetrix, Schneider Electric SE, com Inc., Greenstone Ltd, Microsoft Corporation, etc.
    North America has been dominating the Carbon Management System Market, accounting for the largest share of the market.
    The region with the most rapid expansion in the Carbon Management System Market is Europe.
    The global Carbon Management System Market report is segmented as follows: By Offering, By Applications, By End-User Verticals


    We are featured on :