Key Insights into the Carbon Accounting Software Market: Trends, Growth Rate, and Opportunities Through 2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Are the Primary Drivers Supporting the Market Growth of theCarbon Accounting Software Market?
The surge in state efforts to achieve net-zero emissions is predicted to fuel the expansion of the carbon accounting software market. Government strategies designed to reach a net-zero carbon footprint, where the overall volume of greenhouse gases (GHGs) generated is offset by the quantity drawn out of the atmosphere, arises from increasing apprehension about climate change and its detrimental consequences for the environment, ecosystems, and public health. Carbon accounting software aids companies in adhering to these rules by offering the means to quantify, monitor, and correctly report emissions data. For example, a report by the White House released in December 2023 indicates that the U.S government aims to attain net-zero emissions in its operations by 2050, setting a specific goal to slash emissions by 65% by 2030. The government also intends to maintain a net-zero emissions portfolio for its buildings by 2045, setting an interim target of a 50% cut in emissions by 2032. Consequently, the escalating government efforts to achieve net-zero emissions are spurring the growth of the carbon accounting software market.
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#What Growth Opportunities Will Drive the Carbon Accounting Software Market’s CAGR Through 2034?
In recent times, there has been a significant expansion in the size of the carbon accounting software market. The market, which is projected to climb from $18.56 billion in 2024 to $22.77 billion in 2025, is expected to see a compound annual growth rate (CAGR) of 22.7%. This growth during the historical phase can be traced back to the rise in environmental regulatory norms and reporting obligations, initiatives for corporate sustainability and objectives for reducing greenhouse gas emissions, the escalation in the understanding of climate change and its environmental repercussions, advancements in data analytics and reporting technologies and an increase in stakeholder pressures for transparent emissions reporting.
Expectations indicate a substantial surge in the carbon accounting software marketplace in the following years. Its worth is projected to soar to $52.35 billion by 2029, fuelled by a compound annual growth rate (CAGR) of 23.1%. Factors contributing to this expected boost in the projection period include the proliferation of carbon pricing and emissions trading systems, the blending of carbon accounting processes into enterprise resource planning (ERP) systems, and the integration of artificial intelligence and machine learning for improved data scrutiny. Additionally, there’s increasing demand for on-the-spot monitoring and reporting abilities, and heightened attention towards managing supply chain emissions. The period under forecast also unveils prime trends like a shift towards cloud-hosted carbon accounting solutions, focus on conformation and adherence to international reportage structures, the growing utilization of blockchain technology for emissions tracking and verification, the emergence of all-encompassing sustainability management platforms, and shared collaboration and data exchange amongst organizations aiming for a collaborative impact on emissions reduction.
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What Are the Latest Innovations Influencing theCarbon Accounting Software Market?
Major companies operating in the carbon accounting software market are focused on integrating artificial intelligence (AI) to develop advanced solutions such as CERius, enhance data accuracy, automate analysis, and provide actionable insights for efficient carbon footprint reduction. This includes integrating AI, which optimizes decarbonization planning, improves emissions tracking, and supports informed decision-making to achieve sustainability goals across industries. For instance, in September 2023, GE Vernova, a US-based company specializing in providing solutions for carbon emissions management, launched CERius, an AI-based carbon emissions management software. It is designed to assist energy companies in advancing toward their net-zero goals by offering data precision and abatement planning capabilities, enabling organizations to accurately measure, manage, and operationalize insights needed for tracking carbon-neutral emissions goals. The software automates greenhouse gas data collection, provides scenario analysis, supports team collaboration, and offers standardized reporting based on greenhouse gas protocols. It aims to help energy companies with decarbonization planning, multi-team collaboration, emissions tracking, and compliance reporting, contributing to more accurate decision-making for carbon reduction strategies.
Who Are the Major Industry Players Accelerating Growth in theCarbon Accounting Software Market?
Major companies operating in the carbon accounting software market are Persefoni AI Inc., SAP SE, Net0 Software Limited, Diligent Corporation, IBM Environmental Intelligence Suite, Sphera Solutions Inc., Envizi, Emitwise Ltd., OneTrust LLC, Carbon Analytics, Greenly Company, Carbon Clear Limited, Sinai Technologies, CarbonetiX, Salesforce Inc., Rev-ID International Ltd., CarbonChain Inc., Watershed Technology Inc., Pangolin Associates Pty. Ltd., eValue8 B.V, Carbonstop, South Pole Group, Ecometrica, Climate Earth Inc., TerraPass Inc
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Which Primary Segments of the Carbon Accounting Software Market Are Driving Growth and Industry Transformations?
The carbon accounting software market covered in this report is segmented –
1) By Software Type: Emission Management Software, Software For Carbon Offsetting, Software For Energy Management
2) By Deployment: Cloud-Based, On-Premise
3) By Industry: Energy And Utilities, IT And Telecom, Healthcare, Transportation And Logistics, Retail, Construction And Infrastructure, Food And Beverages, Chemicals, Other Industry
Subsegments:
1) By Emission Management Software: Carbon Footprint Calculation And Reporting, Emission Tracking And Monitoring, Emission Reduction Target Setting, Emission Data Analytics, Regulatory Compliance Management, Carbon Reporting For Stakeholders
2) By Software For Carbon Offsetting: Carbon Credit Management, Carbon Offset Portfolio Management, Offset Project Tracking, Carbon Offset Validation And Verification, Integration With Carbon Offset Providers, Reporting And Documentation For Offsetting Activities
3) By Software For Energy Management: Energy Consumption Tracking And Analysis, Energy Efficiency Optimization, Renewable Energy Integration, Smart Grid Management, Energy Data Analytics And Reporting, Demand Response Management
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Which Regions Are Key Players in the Growth of the #What Are the Primary Drivers Supporting the Market Growth of theCarbon Accounting Software Market?# Market?
North America was the largest region in the carbon accounting software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the carbon accounting software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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