Sustainability & Energy Management Software Market: Current Analysis and Forecast (2022-2028)

Sustainability & Energy Management Software Market: Current Analysis and Forecast (2022-2028)

The Global Sustainability & Energy Management Software Market is anticipated to grow with an elevated CAGR of around 11% over the forecast period (2021-2027). The global sustainability & energy management software market is growing on account of the increasing investments made by large organizations and governments across the globe for the advancements in technology for efficient use of the existing renewable and nonrenewable resources. Furthermore, the surge in environmental awareness and increase in concerns among organizations & individuals about global warming acts as the key driving forces of the global sustainability & energy management software market. Moreover, the growing carbon emissions globally are increasing at an alarming rate, for instance, global energy-related CO2 emissions remained at 31.5 GT, which contributed to CO2 reaching its highest ever average annual concentration in the atmosphere of 412.5 parts per million in 2020 – around 50% higher than when the industrial revolution began. These factors are expected to drive the market for sustainability & energy management software market.

Insights Presented in the Report
"Amongst type, industrial management systems segment holds the major share”

Based on type, the market is segmented into home energy management systems, building energy management systems, and industrial management systems. Industrial energy management systems are expected to achieve a significant CAGR during the forecast period. The growing adoption of sustainability & energy management software in industrial energy management systems can be attributed to the growing need for energy conversation for cost savings in the industries. Moreover, the majority of the energy consumption is done by industrial bodies/manufacturing bodies, which results in the generation of greenhouse gases causing carbon emissions..
"Amongst deployment, on-cloud segment holds the major share”

Based on deployment, the market is segmented into cloud and on-premises. The cloud segment is expected to achieve a considerable CAGR during the forecast period. The growing demand for cloud services can be attributed to the cost-effectiveness of cloud services. As companies can eliminate unnecessary hardware or rigid on-premises assets and easily right-size computing resources according to their unique business requirements. Furthermore, the integration of cloud-based solutions and services helps organizations to reduce their operational cost significantly as they can be accessed from anywhere.
"Amongst end-user, manufacturing segment holds the major share”

Based on end-user, the market is segmented into automotive, building automation, construction, manufacturing, oil and gas, pharmaceuticals, and others. The manufacturing segment is expected to gain prominence during the forecast period. The growing demand for sustainability and energy management software in the manufacturing segment can be attributed to the growing volume of manufacturing that is needed to be done, to produce for the ever-growing global population, for instance, in the year manufacturing accounted for 76.6% of total U.S. environmental impact according to NIST’s manufacturing cost guide.
"North America represents one of the largest markets of Sustainability & Energy Management Software”

For a better understanding of the market dynamics of the sustainability & energy management software market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America held a prominent share of the global sustainability & energy management software market in 2020 and is expected to showcase a prominent growth rate during the forecast period. This can be attributed to the presence of leading sustainability and energy management software providers and the integration of cloud and IoT with sustainability & energy management software market solutions. In addition, a surge in investments by key players as well as the government for developing advanced energy preservation technology and sustainability solutions fuels the growth of the market. In countries such as US and Canada, there are numerous government initiatives and investments, For instance, in 2020, the US government has committed a federal investment of USD 1.7 trillion in climate resilience and clean energy over the course of the next 10 years.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry