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Sustainability And Energy Management Software Global Market Report 2023
Major players in the sustainability and energy management software market are Accuvio, Ecova, Inc., Enablon, Envizi, Figbytes Inc., Gensuite LLC, IBM Corp., ICONICS, Inc., SAP SE, Schneider Electric, UL EHS Sustainability, British Energy Saving Technology, LogicLadder Technologies, SyAM Software, and Urjanet.
New York, April 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sustainability And Energy Management Software Global Market Report 2023" - https://www.reportlinker.com/p06451241/?utm_source=GNW
The global sustainability and energy management software market is expected to grow from $1.45 billion in 2022 to $1.63 billion in 2023 at a compound annual growth rate (CAGR) of 12.35%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The sustainability and energy management software market is expected to grow to $2.52 billion in 2027 at a CAGR of 11.55%.
The sustainability management software market includes revenues earned by entities by sustainability performance and project management (SPPM) software, sustainable product development software, collaboration and communication systems software and smart infrastructure management software.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Sustainability management software refers to a database of information relating to the use of energy, resources, financial data, and other critical factors that assist businesses in making their operations more sustainable and efficient. Enterprises use sustainability management software solutions to improve their energy and sustainability business performance through automated data management, analysis, and reporting.
North America was the largest region in the sustainability and energy management software market in 2022. The regions covered in the sustainability and energy management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of sustainability and energy management software are cloud based and on premise.The cloud-based sustainability and energy management software assist companies in tracking environmental, social, and corporate governance (ESG) criteria and producing analytical reports on them.
The cloud-based sustainability and energy management software are housed in the facilities of the service provider in a public cloud computing environment, but businesses can access and use as much of the software as they need at any one time.The various modules in sustainability and energy management software are utility data management, carbon reporting and management, sustainability reporting and management, energy optimization, facility and asset management, and compliance management.
The sustainability and energy management software is used by automotive, building automation, oil and gas, manufacturing, pharmaceutical, utilities and energy, and other end users.
The increasing investments in EHS and sustainability software are anticipated to propel the growth of the sustainability and energy management software market.Environmental, health, and safety (EHS) software is a purpose-built solution that enables businesses to manage all the data they generate related to regulatory compliance, sustainability efforts, and enterprise risk.
Increasing investments in EHS software will drastically change how businesses handle their data.For instance, in April 2021, Optera, a Colorado-based sustainability management software company, received seed funding from Mucker Capital, Blackhorn Ventures, Matchstick Ventures, SaaS VC, Valo Ventures, and Stout Street to develop its sustainability management software.
With this funding, Optera can develop next-generation capabilities more quickly and enable quick onboarding of new clients from any sector. Therefore, increasing investments in EH&S and sustainability software is driving the growth of the sustainability and energy management software market.
Strategic partnerships are a key trend gaining popularity in the sustainability and energy management software market.Many companies operating in the sustainability and energy management software market are undergoing partnerships to strengthen their position in the sustainability and energy management software market.
For instance, in April 2022, Samsung Electronics, a South Korea-based electronics company, partnered with ABB.This partnership aims to implement holistic energy management to save both residential and commercial buildings carbon emissions and energy costs.
ABB is a Switzerland-based automation company providing energy management solutions.Further, in October 2021, SPIE, a Europe-based provider of multi-technical services in the fields of communications and energy, partnered with Siemens Energy.
This partnership aims to support the energy company along its path toward a climate-neutral future with efficient, sustainable, and digital solutions. Siemens Energy is a Germany-based energy company providing energy management solutions.
In October 2020, Emerson, a US-based manufacturer and provider of engineering services, acquired Open Systems International, Inc. (OSI Inc.) for $1.6 billion. Through this acquisition, Emerson enhanced its portfolio of software and automation solutions. Advanced modular technology from OSI Inc. and Emerson’s Ovation control system enabled the wider industry goal of renewables integration and grid stability by allowing utility customers to improve energy efficiency from generation to customer delivery. Open Systems International, Inc. is a US-based software company that provides real-time management and optimization of open automation solutions, including sustainability and energy management software.
The countries covered in the sustainability and energy management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The sustainability and energy management software market research report is one of a series of new reports that provides sustainability and energy management software market statistics, including sustainability and energy management software industry global market size, regional shares, competitors with a sustainability and energy management software market share, detailed sustainability and energy management software market segments, market trends and opportunities, and any further data you may need to thrive in the sustainability and energy management software industry. This sustainability and energy management software 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.
Read the full report: https://www.reportlinker.com/p06451241/?utm_source=GNW
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