by Sustainability and energy management software are computer programs or applications that help track, measure, and analyze sustainability factors like energy usage, carbon footprint, waste management etc. These software also help companies develop environmental, social and governance (ESG) strategies and comply with reporting standards. They provide visibility into sustainability performance, help identify cost saving opportunities and engage stakeholders.
The global sustainability and energy management software market is estimated to be valued at US$ 1521.13 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends propelling the growth of sustainability and energy management software market is the growing digitalization of sustainability and ESG reporting. With increasing demand for sustainable solutions and transparent ESG disclosures from investors, regulators and customers, companies are adopting software tools to automate data collection, generate customized reports and track key performance indicators. Sustainability software helps organize large amounts of sustainability data and presents it in an engaging format suitable for websites and annual reports. They make sustainability reporting process more efficient by eliminating manual data entry and ensure compliance with global reporting frameworks like GRI, SASB and TCFD. This is driving many organizations to invest in specialized software to streamline sustainability management and communications.
SWOT Analysis
Strength: Sustainability and energy management software helps organizations in reducing energy consumption and costs through monitoring and analytics. It allows automated monitoring and reporting of energy usage.
Weakness: High upfront costs associated with deployment and maintenance of sustainability and energy management software. Lack of awareness about the benefits of such software in small and medium enterprises.
Opportunity: Increasing focus of governments and organizations towards reducing carbon footprint through energy efficiency drives the demand for sustainability and energy management software. Rising electricity costs also motivate adoption of such solutions.
Threats: Availability of open source and low-cost alternatives restricts the growth of established vendors. Economic slowdowns can delay budget allocations for sustainability projects.
Key Takeaways
The Global Sustainability And Energy Management Software Market Demand is estimated to be valued at US$ 1521.13 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030.
The global sustainability and energy management software market is expected to witness high growth over the forecast period. North America currently dominates the market due to stringent government regulations and increasing investment towards sustainable development. Europe is also a major market for sustainability and energy management software supported by governmental initiatives such as the EU Emissions Trading System.
Key players operating in the sustainability and energy management software market are Becton, Dickinson and Company, Pfizer Inc., Gerresheimer AG, B. Braun Medical Inc., Grifols S.A, Baxter International, Inc., Fresenius Kabi AG, Mylan N.V., Bayer AG, F. Hoffmann-La Roche AG, Farmoquimica S.A., Novartis International AG, Eli Lily and Company, Nacional S.A., Aspen Pharmacare Holdings Limited, Blau Farmaceutica S.A., Eurofarma, Ache Laboratorios Farmaceuticos SA, LEMS Pharma, and Hipolabor Farmaceutica Ltda. These players are focusing on new product launches and partnerships to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
