Carbon Management System Market Overview
The carbon management system market is projected to reach USD 19.83 billion by 2026, registering a CAGR of 12.31% during the forecast period (2021-2026). The major driving force for the market is the introduction of 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 the European region.
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Carbon Management System Market – Geographical Overview
North America accounts for the largest carbon management system 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 launched 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.
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Key Highlights of the Carbon Management System Market
- 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.
- 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.
Recent Developments in the Carbon Management System Market
- February 2021 – Newlight Technologies’ fashion brand Covalent announced it would implement blockchain technology for its carbon-negative fashion accessories line. The sunglasses and leather wallets appear to use synthetic plastics but are made of AirCarbon, a natural biodegradable polymer, PHB. Cognition Foundry developed the blockchain solution on the IBM Blockchain Platform.
- 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.
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List of Key Players in the Carbon Management System Market
- Simble Solutions Ltd
- IBM Corporation
- ENGIE Impact
- GreenStep Solutions Inc.
- SAP SE
- Enablon SA
- IsoMetrix
- Schneider Electric SE
- Salesforce.com Inc.
- Greenstone+ Ltd
- Microsoft Corporation
- Sphera
*List Not Exhaustive
Mordor Intelligence has segmented the global carbon management system market on the basis of offering, application, end-user verticals, and geography:
- Offering (Market Size & Forecast based on Revenue (USD billion), 2018-2026)
- Software
- Services
- Application (Market Size & Forecast based on Revenue (USD billion), 2018-2026)
- Energy
- Greenhouse Gas Management
- Air Quality Management
- Sustainability
- Other Applications
- End-user Verticals (Market Size & Forecast based on Revenue (USD billion), 2018-2026)
- Oil and Gas
- Manufacturing
- Healthcare
- IT and Telecom
- Other End-user Verticals
- Geography (Market Size & Forecast based on Revenue (USD billion), 2018-2026)
- Asia-Pacific
- North America
- Europe
- South America
- Middle-East and Africa
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