Neha neha's blog : Sustainability Management Software Market Revenue, Sales Volume 2030
Sustainability Management Software Market
Sustainability
Management Software Market Size was valued at USD 0.2 billion in 2021. The
Sustainability Management Software market industry is projected to grow from
USD 0.22 billion in 2022 to USD 0.8 billion by 2030, exhibiting a compound
annual growth rate (CAGR) of 22.60% during the forecast period (2022 - 2030).
The main market driver of this expansion is the growing understanding among
many businesses that they may enhance their profits by cutting back on
additional operating expenses.
Sustainability management software is a type of software
solution designed to help organizations track, manage, and report on their
sustainability initiatives. These software tools are specifically developed to
assist companies in monitoring and improving their environmental performance,
reducing resource consumption, and meeting sustainability goals.
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Report
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COVID-19 Scenario Analysis:
Of all the aspects that have been impacted by the pandemic,
there is one that it has not even touched. Global warming continues its
progress. Despite a brief decrease in pollution in all countries battling
COVID-19, global carbon dioxide levels reached a record high again in 2020. In
this regard, the pandemic has also meant we are further from achieving the
sustainable development goals in terms of the fight against climate change.
However, the sharp reduction in harmful emissions that occurred briefly during
the pandemic is clear evidence that there are sustainable alternatives.
Market Dynamics and Factors:
The growth of the global sustainability management software
market is primarily driven by increasing adoption of the software in various
industries including utilities & energy, automotive and oil & gas
industries. Rising prevalence of regulations pertaining to energy efficiency is
likely to propel the global sustainability management software market growth at
a significant rate during the review period.
Increasing product adoption in the developing countries is
likely to create lucrative opportunities for the players operating in the
global sustainability management software market during the review period.
Sustainability Management Software Market Insights
The Sustainability Management Software market data has been
segmented by service into Implementation Service and Consulting Service. The
implementation service segment dominated the market in 2021 and is projected to
be the faster-growing segment during the forecast period, 2022-2030. Increasing
company and organisation knowledge of the advantages of implementation services
for sustainability management software.
Market Share Analysis:
The Market Share Analysis offers an insightful look at the
current state of vendors in a particular market space. By comparing vendor
contributions to overall revenue, customer base, and other key metrics, we can
give companies a greater understanding of their performance and what they are
up against when competing for market share. The analysis also sheds light on
just how competitive any given sector is about accumulation, fragmentation
dominance, and amalgamation traits over the base year period studied.
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Key Sustainability Management Software Market Challenge
Lack of standards, training and development is a major
challenge impeding the sustainability management software market growth.
Advancements in technology and a decline in electronic product costs are
encouraging customers to buy new products frequently. This is leading to an
increased level of e-waste, which is potentially hazardous for the environment.
For example, many manufacturers of electronic products in South America sell
them with little information at their disposal, which adds to CO2 or carbon
emissions.
Many customers are ignorant of the negative effects of the
improper disposal of electronic products and do not know about e-waste
management. Many businesses are also unaware of the use of carbon management
software. Unlike developed countries, many developing countries such as India
do not have proper standards regarding carbon emissions. As a result, in
developing countries, there are no limitations on carbon or CO2 emissions, and
no measures are taken to manage them. Hence, the lack of standards, training,
and development is hampering the growth of the global sustainability management
software market, which is expected to continue during the forecast period as
well.
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