The carbon accounting platform market is anticipated to grow at a CAGR of 29.72% during the forecast period.

NOIDA, UTTAR PARDESH, INDIA, January 25, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the carbon accounting platform market is projected to grow at a CAGR of 29.72% between 2021 and 2028.

As enterprises throughout the world increase their commitment to sustainability and environmental responsibility, the Carbon Accounting Platform Market is seeing unprecedented growth. This developing industry is distinguished by a dynamic interaction of software and services, both of which are required for precise measurement, reporting, and control of carbon emissions. The need to address climate change while adhering to strict regulatory frameworks drives the demand for comprehensive carbon accounting systems. Advanced software solutions, which provide automation, data analytics, and real-time monitoring capabilities to ease the complicated process of carbon accounting, are expected to play a critical part in this rise. As businesses grasp the strategic relevance of reducing their carbon footprint, the industry is positioned for significant growth, driven by the confluence of regulatory demands, corporate sustainability goals, and the requirement to minimize climate-related risks.

Carbon accounting software is used to analyze, calculate, measure, and report an organization's Greenhouse Gas (GHG) emissions for auditing purposes. The use of this software enables businesses to improve their carbon management. It improves financial potential for businesses since investors are more inclined to invest in a company that is working to reduce its carbon footprint. This contributes to more openness among stakeholders and prospective investors. The carbon accounting platform market has evolved as a key actor in today's corporate scene, demonstrating the growing worldwide commitment to sustainability and environmental responsibility. Considering rising worries about climate change and increasingly severe regulatory frameworks, businesses across industries are looking for complete solutions to monitor, manage, and report their carbon emissions. This industry focuses on the development and deployment of sophisticated carbon accounting software and services that allow enterprises to measure and assess their environmental effect. As the world moves toward a low-carbon economy, the carbon accounting platform market emerges as a critical ally for businesses seeking to manage complicated compliance requirements, improve operational efficiency, and demonstrate a true commitment to environmental stewardship. This industry is defined by the dynamic interplay between cutting-edge software solutions and specialized services, which has the potential to determine the future of corporate sustainability practices on a worldwide scale.

The market is witnessing multiple collaborations and technological advancements, for instance in November 2022, Sphera established a partnership with Eastman, an innovative global speciality materials firm, to use Sphera's Life Cycle Assessment (LCA) automation tools. The LCA automation system would enable organizations to acquire comprehensive real-time analysis of the environmental tracking of their product portfolios promptly. It would also help businesses more effectively by lowering greenhouse gas emissions at every stage of manufacturing, from design to assembly.

Access sample report or view details: https://www.knowledge-sourcing.com/report/carbon-accounting-platform-market

Based on the solution the global carbon accounting platform market is divided into software and services. The software segment is poised to capture a major market share and is likely to grow at a high CAGR over the forecast period. The increased emphasis in carbon accounting on automation, data analytics, and simplified reporting corresponds to a growing need for advanced software solutions. As firms throughout the world seek to fulfill sustainability targets while navigating difficult regulatory frameworks, sophisticated carbon accounting software use is projected to skyrocket. Further, the demand for effective data management, real-time monitoring, and accurate reporting is driving this development.

Based on industry verticals the global carbon accounting platform market is divided into transport, chemical, food & beverage, energy & power, it & telecom, and others. Among these, the energy and power sector is anticipated to expand at a high CAGR over the forecast period. As companies throughout the world increase their attention on sustainability and reducing their carbon footprint, the energy and power industry plays a critical role in pushing these initiatives. Carbon accounting platforms enable businesses to reliably measure, record, and manage their carbon emissions, in line with the increased emphasis on environmental stewardship and regulatory compliance. Energy-intensive industries, such as power generation and distribution, are under increasing pressure to implement comprehensive carbon accounting solutions to monitor and optimize their emissions, making the Energy & Power vertical a key driver for the global market adoption of carbon accounting platforms.

Based on geography North America is expected to be the leading region in the carbon accounting platform market. This can be linked to the existence of significant carbon-intensive sectors as well as the early embrace of environmental programs. Furthermore, the United States has been a major contributor to global greenhouse gas emissions. The government's emphasis on lowering carbon emissions, as well as increased company awareness of environmental sustainability, has spurred demand for carbon accounting solutions in the region.

As a part of the report, the major players operating in the global carbon accounting platform market, that have been covered are IBM, Net0, Emitwise, Persefoni AI, Diligent Corporation, Sphera, SINAI Technologies, Greenly, Watershed Technology, Inc., and Sweep.

The market analytics report segments the carbon accounting platform market using the following criteria:

• BY SOLUTION

o Software

• On-Premise
• Cloud-based

o Services

• BY INDUSTRY VERTICAL

o Transport
o Chemicals
o Food & Beverage
o Energy & Power
o IT & Telecom
o Others

• BY GEOGRAPHY

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• Germany
• France
• United Kingdom
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• China
• Japan
• India
• South Korea
• Indonesia
• Taiwan
• Others

Companies Profiled:

• IBM
• Net0
• Emitwise
• Persefoni AI
• Diligent Corporation
• Sphera
• SINAI Technologies
• Greenly
• Watershed Technology, Inc.
• Sweep

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Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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