Summary

The carbon management system market was valued at USD 10.93 billion in 2020, and it is projected to be worth USD 19.83 billion by 2026, registering a CAGR of 12.31% during the forecast period (2021-2026). With the COVID-19 pandemic scenario expected to halt the world's emissions growth, the software solutions that serve to optimize society's energy consumption, cut costs, and reduce carbon footprint could witness increased adoption as they help achieve carbon-neutral before the set deadline.

- Many institutions and organizations are multiplying their conservation efforts and gradually adopting measures that provide in-depth knowledge of greenhouse gases' dynamics and impacts. Considering this context, the carbon footprint is one of the most widely recognized indicators in the international sphere.
- The major driving force for the market is introducing various carbon emissions policies due to the demand for rapid decarbonization. The Carbon Research Management Initiative (CaMRI) is the latest program at the Center on Global Energy Policy (CGEP) that focuses on speeding up decarbonization and reducing climate change through carbon management.
- According to Eurostat's latest information (February 2020), in 2018, the final consumption of electricity, gas, steam, and air-conditioning had an enormous carbon footprint (764 kg of CO2 per person) in the EU-27. This is anticipated to increase the utilization of the carbon management system in this region.
- In May 2020, Döhler, a provider of technology-based natural ingredients, ingredient systems, and integrated solutions for the food and beverage industry, collaborated with SAP to run a co-innovation engagement to carry out a pilot project named Climate 21. As a part of the pilot program, the SAP Product Carbon Footprint Analytics was installed for its products.
- Moreover, enterprises in the market are expanding their capabilities and market reach via partnerships and alliances in terms of carbon management to maintain sustainability. For instance, in February 2021, BASF and Siemens Energy agreed to cooperate in carbon management. By combining BASF's technological expertise and Siemens Energy's product and services portfolio, BASF aims to extend its leading role in lowering CO2 emissions in chemical production.
- Further, Managing variable energy resources such as wind and solar energy are seen as a challenge by enterprises. Effectively reducing overall energy consumption requires planning and corporate-wide commitment; for instance, incorporating variable energy resources requires a higher investment in infrastructure and setting up the network. Moreover, large enterprises tend to build their resource networks, which have longer ROIs pushing smaller businesses to restrain their adoption.

Key Market Trends

Energy Sector Accounts for the Largest Market Share

- Energy efficiency is increasingly becoming the primary focus of both private enterprises and government authorities across the globe. The increasing economic activities have led to high energy consumption rates and pushed global electricity grids to their limits.
- Energy consumption is expected to increase over the coming years; according to the United States Energy Information Administration, the worldwide energy consumption is anticipated to grow by around 50% during 2018-2050, with the Asian region being the major consumer of energy over the years.
- Additionally, major economies have already formed regulations to enhance their energy efficiency, and other countries are following suit. For example, the Energy Efficiency Directive established measures to help the EU reach a 20% energy efficiency target by 2020, which was then amended in 2018 with an energy efficiency target for 2030 for at least 32.5%. Such developments in the regions are forcing businesses to adopt energy efficiency solutions.
- According to the Department of Energy data, buildings account for 40% of US energy use and waste 30% of the energy they consume. Altogether, that is a massive amount of the annual energy used and destroyed. Excess carbon is produced in the North American region, reaching over USD 100 billion in operational costs per year.
- Further, Tata Consultancy Services (TCS), a global IT service, consulting, and business solutions organization, has launched TCS Clever Energy, enterprise-level energy and emission management system. It helped commercial and industrial organizations be more sustainable, ensure energy and cost efficiency, decrease carbon emissions, and reach their carbon neutral goals in December 2020.

North America Accounts For Largest Market Share

- The carbon management system market in the region remains a significant market as commercial, residential, and industrial consumers continue to drive adoption to realize energy savings. The US is currently ranked as the second-largest consumer of electricity after China.
- Further, the Carbon management program launch in North America is a decisive step in establishing Airport Carbon Accreditation as the global standard for carbon management at airports. The launch ceremony also saw Seattle-Tacoma International Airport become the very first airport in North America to achieve certification within the program.
- Government initiatives to decrease energy emissions from several old and public buildings are also boosting the market demand. For instance, the US General Services Administration made a contract with IBM Corporation to install efficient and smart building technologies in 50 of the state and federal government’s highest energy-consuming buildings.
- Further adding to the scenario, a potentially zero-energy district is currently being developed at the National Western Center, a multi-use campus currently under construction in Denver, Colorado, to house the annual National Western Stock Show and other public events focused on food and agriculture. Electricity used to operate the lighting, heat pumps, and other equipment will come from on-site photovoltaics and wind- and solar-generated electricity imported from off-site.
- In January 2021, Schneider Electric announced its Eco Struxure Microgrid Solution for Small & Medium Buildings for Canada. The all-in-one solution provides easy integration of distributed energy resources (DERs) across facilities – including commercial and industrial buildings, healthcare facilities, and educational institutions – providing organizations with more excellent energy resiliency, reduced energy costs, and a lower carbon footprint.

Competitive Landscape

The market for carbon management systems is inclining towards fragmentation with the increase in the number of players offering software for monitoring and management. This increase in number proliferating due to the rise in the adoption of cloud services. Whereas the companies providing services in consultation show steady growth and follow a similar trend in the forecast period.

- January 2021 - IBM, Apple, and Accenture join MIT cross-industry climate change-tackling consortium. The companies have joined the MIT Climate and Sustainability Consortium (MCSC), a cross-industry initiative geared toward accelerating the development pace of climate change-tackling technologies and innovations. The consortium will see Apple and IBM working alongside other tech-focused firms, including aerospace company Boeing, professional IT services provider Accenture, and telco giant Verizon, to deliver on its goals.
- July 2020 - Isometrix has updated its Carbon Footprint Management solution to inculcate new market requirements. Its new emission factors can now apply retroactively to monitoring records where the CO2e has been calculated. Moreover, the enhancement allows a system to set up Intensity Ratio targets displayed against actuals on the dashboards and help drive informed decision-making.

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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Assessment of Impact of COVID-19 on the Carbon Management System Market

5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Environmental Concerns and Focus on Reducing Carbon Footprints
5.2 Market Challenges
5.2.1 Managing Variable Energy and Resource Demand

6 MARKET SEGMENTATION
6.1 By Offering
6.1.1 Software
6.1.2 Services
6.2 By Application
6.2.1 Energy
6.2.2 Greenhouse Gas Management
6.2.3 Air Quality Management
6.2.4 Sustainability
6.2.5 Other Applications
6.3 By End-user Verticals
6.3.1 Oil and Gas
6.3.2 Manufacturing
6.3.3 Healthcare
6.3.4 IT and Telecom
6.3.5 Other End-user Verticals
6.4 By Geography
6.4.1 North America
6.4.2 Europe
6.4.3 Asia Pacific
6.4.4 Latin America
6.4.5 Middle East and Africa

7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Simble Solutions Ltd
7.1.2 IBM Corporation
7.1.3 ENGIE Impact
7.1.4 GreenStep Solutions Inc.
7.1.5 SAP SE
7.1.6 Enablon SA
7.1.7 IsoMetrix
7.1.8 Schneider Electric SE
7.1.9 Salesforce.com Inc.
7.1.10 Greenstone+ Ltd
7.1.11 Microsoft Corporation
7.1.12 Sphera

8 INVESTMENT ANALYSIS

9 FUTURE OUTLOOK OF THE MARKET