Cloud Carbon Management System Global Market Report 2024

The cloud carbon management system market size has grown rapidly in recent years. It will grow from $6.73 billion in 2023 to $7.41 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth observed in the historical period can be attributed to several factors, including growing environmental awareness among businesses and consumers, escalating carbon emissions necessitating action, regulatory compliance pressure prompting organizations to address carbon emissions, rising energy costs driving efforts to improve efficiency, and the emergence of carbon pricing mechanisms influencing strategic decisions regarding emissions reduction.

The cloud carbon management system market size is expected to see strong growth in the next few years. It will grow to $10.67 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The forecasted growth is driven by factors such as global climate agreements, circular economy models, consumer demand for eco-friendly products, investor focus on sustainability, and adoption of renewable energy. Major trends include carbon offsetting, supply chain integration, real-time monitoring, and industry-specific standards.

The surge in industrial energy demand is anticipated to be a key driver propelling the growth of the cloud carbon management system market in the foreseeable future. Industrial energy consumption, representing the total energy utilized within industrial settings, is witnessing an upward trajectory driven by various factors such as expanding manufacturing activities, advancements in technology necessitating energy-intensive processes, and population growth fueling product demand. Cloud carbon management systems emerge as a crucial solution to address this demand, offering tools and insights aimed at optimizing energy usage, curbing carbon emissions, and fostering sustainability across industrial operations. A report from the United States Energy Information Administration (EIA) underscores the magnitude of this trend, projecting a notable increase in residential electricity consumption and a significant surge in electricity usage for transportation, particularly driven by the rising adoption of electric vehicles (EVs). Such projections highlight the pressing need for effective carbon management solutions to mitigate environmental impacts and promote sustainable practices within industries.

Major companies operating in the cloud carbon management system market are actively innovating and developing advanced solutions to cater to global customers' needs. These solutions, exemplified by carbon management platforms, offer comprehensive capabilities to measure, analyze, and manage carbon emissions effectively. By encompassing a spectrum of technologies and strategies, these platforms enable industrial facilities, power plants, and other sources to monitor, track, and reduce carbon emissions, thereby aligning with sustainability objectives and environmental performance targets. Notably, Alibaba Cloud's Energy Expert, introduced in June 2022, stands out as a pioneering platform offering real-time carbon footprint tracking, AI-powered analytics, and comprehensive energy management features. This solution plays a pivotal role in enabling companies worldwide to measure, analyze, and manage carbon emissions effectively, facilitating their journey towards carbon neutrality and sustainability through cutting-edge technologies and integrated solutions. As industries increasingly prioritize environmental stewardship and sustainability, cloud carbon management systems are poised to emerge as indispensable tools in navigating the transition towards a greener, more sustainable future.

In August 2021, Diligent Corporation, a software-as-a-service (SaaS) company headquartered in the United States, completed the acquisition of Accuvio for an undisclosed sum. This strategic acquisition marks Diligent Corporation's expansion of its governance, risk, and compliance (GRC) portfolio into the realm of sustainability and ESG reporting tools. By incorporating specialized sustainability and ESG reporting tools from Accuvio, Diligent reinforces its commitment to offering comprehensive environmental, social, and governance (ESG) solutions. This acquisition underscores the increasing significance of ESG reporting and data management software within the cloud carbon management system market. Accuvio, based in Ireland, is recognized for its cloud-based solution, which includes cloud carbon management system software.

Major companies operating in the cloud carbon management system market report are Engie SA, The International Business Machines Corporation (IBM), Schneider Electric SE, SAP SE, Salesforce Inc., Enablon (Wolters Kluwer N.V.), IHS Markit, Trinity Consultants Inc., Enviance Inc., Thinkstep, Intelex Technologies ULC, Climeworks AG, IsoMetrix Software, Hara Software, Carbon Clean Solutions, Carbon Lighthouse, Locus Technologies, Energetics, EnergyCAP LLC, CarbonCure Technologies, FirstCarbon Solutions, Envirosoft Corporation, Carbon Footprint Ltd., Climate Earth, Greenstone+, Native Energy, Dakota Software, ESP (New Zealand Green Investment Finance), COzero, Ecometrica.

North America was the largest region in the cloud carbon management system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud carbon management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cloud carbon management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Cloud carbon management systems are software platforms engineered to assist organizations in measuring, analyzing, and mitigating carbon emissions and environmental impact through cloud-based solutions. These systems empower businesses to monitor their carbon footprint, pinpoint areas for improvement, and implement sustainability strategies.

The primary components of a cloud carbon management system include solutions and services. Solutions comprise software products and platforms tailored to measure, analyze, and mitigate carbon emissions linked with cloud computing. These solutions find applications across various sectors, including large enterprises and small and medium enterprises (SMEs), and are utilized in diverse industries such as energy and utilities, manufacturing, residential and commercial building, transportation and logistics, IT and telecom, and others.

The cloud carbon management system market research report is one of a series of new reports that provides cloud carbon management system market statistics, including cloud carbon management system industry global market size, regional shares, competitors with a cloud carbon management system market share, detailed cloud carbon management system market segments, market trends and opportunities, and any further data you may need to thrive in the cloud carbon management system industry. This cloud carbon management system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cloud carbon management system market consists of revenues earned by entities by providing services such as carbon footprint tracking, emissions analysis, sustainability reporting, environmental impact assessment, carbon offsetting solutions, energy consumption monitoring, compliance management and supply chain carbon tracking. The market value includes the value of related goods sold by the service provider or included within the service offering. The cloud carbon management system market also includes sales of products such as carbon management software, energy management systems, emissions tracking systems, environmental impact assessment tools, energy consumption monitoring systems, compliance management software, carbon offsetting platforms, etc. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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