Global Life Cycle Assessment Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Life Cycle Assessment Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Life Cycle Assessment is a methodological framework (defined in the DIN ISO 14040/44) to assess environmental impacts associated with all the stages of a product's life from raw material extraction through materials processing, manufacture, distribution, use, repair and maintenance, and disposal or recycling.

Market Overview:

The latest research study on the global Life Cycle Assessment Software market finds that the global Life Cycle Assessment Software market reached a value of USD 313.56 million in 2022. It’s expected that the market will achieve USD 614.42 million by 2028, exhibiting a CAGR of 11.86% during the forecast period.

Influence of COVID-19 Outbreak on Life Cycle Assessment Software Industry Development

After the outbreak of novel coronavirus, countries around the world issued policies to prevent and control the epidemic according to the national deployment. The epidemic affected a wide range, and the production, operation and consumer markets of various industries were affected. Suppliers, customers and other stakeholders are also affected to varying degrees, which leads to delays in procurement, production and sales, which has a certain impact on the company's operations in the industry. As the epidemic situation has brought great influence on the production, operation and product transportation of downstream enterprises, it may cause problems in the cash flow of enterprises, which may indirectly affect the procurement of Life Cycle Assessment Software by enterprises, resulting in the delay of procurement plan.

But on the other hand, the epidemic has also accelerated the digitalization process of enterprises. COVID-19 forces many unprepared enterprises and processes to digitize at a tortuous speed. Internet has become the foundation of the successful economic transformation in COVID-19 era. The integration of services provides a powerful impetus for the Internet and a large number of services to continue to play an economic and social role.

When faced with the fear and pain of the COVID-19 epidemic, it is difficult for people to consider certain situations in advance. Business leaders should not only pay attention to how to survive, but also think about how to develop under the background of COVID-19 era, because COVID-19 era is not the past, but a new reality.

COVID-19 has accelerated social and technological changes, and has influenced other aspects. This is a technology-driven era, where people are forced to work from home, serve for entertainment, and accept the trend of telemedicine and machine learning. This change reflects a profound behavior change, which can't be realized even within ten years.

The current change is not only from digitalization to cloud computing and consumer applications, but also a behavioral change. Some far-sighted enterprises are seizing this unprecedented opportunity, suspending simple growth or implementation work and creating new value and creativity instead. A team will be liberated from the original cycle, thinking about new ideas and making the enterprise more streamlined and flexible.

LCA has become an important method for enterprises to make sustainable development decisions and an important tool for environmental impact assessment of products and materials.

Life cycle assessment (LCA) software is a tool to systematically quantify the potential environmental impact potential of products or services in the whole life cycle, which can help companies better analyze the impact of supply chain on their entire carbon footprint. LCA offers the possibility of different levels of granularity, depending on the company's focus. It can include the data of raw material production until the purchased products are delivered, thus reflecting the whole supply chain; Or only pay attention to the emission reduction of direct suppliers, the main LCA data can be collected, and the upstream data adopts the data from the life cycle assessment database outside the enterprise. For example, GaBi database or EcoInvent provide a lot of secondary data, which can help companies supplement their supply chain data. Using LCA in a correct way will ensure the accuracy and transparency of emission data calculation results, without disclosing the whole process knowledge of suppliers and help to determine the impact of supply chain on the overall carbon footprint of the company.

Developing countries face challenges in regional market development

It has already been widely used in North America and Europe, ranging from corporate propaganda to production, to government strategy. But it is not widely used in developing countries. There are two main reasons for this:
The demand is too small. Although many developing countries and regions publicize environmental protection, there are not many people who are really willing to spend money on LCA research. In addition, some developing countries and regions don't pay attention to the accuracy of data, so many enterprises feel that it is good to have a data in the report.

Region Overview:

In global comparison, a significant portion of the revenue was generated in Europe (55.44% in 2022).

Company Overview:

SimaPro is one of the major players operating in the Life Cycle Assessment Software market, holding a share of 24.71% in 2022.

SimaPro

SimaPro helps you effectively apply your sustainability expertise to empower informed decision-making, change product life cycles for the better, and increase your company’s positive impact. The software empowers you to gain insights into the environmental performance of products and services and become an informed change-maker that truly drives sustainable change.

Sphera Solutions

Sphera is the leading provider of Environmental, Social and Governance (ESG) performance and risk management software, data and consulting services with a focus on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management and Product Stewardship.

Segmentation Overview:

Among different product types, Cloud Based segment is anticipated to contribute the largest market share in 2027.

Application Overview:

In the Life Cycle Assessment Software market, 67.53% of the total value was generated through the Large Enterprises segment by application in 2022.

Key Companies in the global Life Cycle Assessment Software market covered in Chapter 3:

SimaPro
Intertek Group
Solid Forest
Empauer
Sustainable Minds
GreenDelta
iPoint-systems
Athena Software
Circular Ecology
Sphera Solutions
One Click LCA

In Chapter 4 and Chapter 14.2, on the basis of types, the Life Cycle Assessment Software market from 2018 to 2029 is primarily split into:

Cloud Based
On-premises

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Life Cycle Assessment Software market from 2018 to 2029 covers:

Large Enterprises
SMEs

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)