Sustainability Management Software Market Size, Share, Growth, and Industry Analysis, By Type (On-Cloud, On-Premise), By Application (IT & Telecommunication, Healthcare, Automotive, Manufacturing, Oil & Gas, Others), Regional Insights and Forecast To 2032

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SUSTAINABILITY MANAGEMENT SOFTWARE MARKET REPORT OVERVIEW

Global sustainability management software market size is forecasted to reach USD 1.17 billion by 2032 from USD 0.82 billion in 2023, growing at a steady CAGR of 4% during the forecast period.

Sustainability management software is a computer software that helps companies to manage their efforts and activities. It helps company to improve their environmental performance by monitoring reports. It also helps the organization to get a clear idea where it can reduce emissions and resource use and how its meeting its sustainability goals.

Increasing awareness of organizations about the sustainable development and energy maintenance software are one of the leading reasons for the market growth. Other growth factors include like Increasing concerns about greenhouse gases and increasing demand for energy efficient solutions are the key drivers contributing the market growth.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Of all the aspects that the pandemic has affected, there is one that it has not even touched. Global warming continues to progress. Despite a brief reduction in pollution in all countries fighting against COVID-19, global carbon dioxide (CO2) levels again reached record highs in 2020. In this regard, the pandemic has also meant that we are further from achieving the goals of sustainable development in the struggle. climate change However, the momentary drop in harmful emissions during the pandemic is clear evidence of the existence of sustainable alternatives.

LATEST TRENDS

"Growing Realization By Many Organizations Will Drive Market Growth"

One of the leading reasons for the market expansion is growing realization by many organizations that they can improve their bottom line by reducing the overhead costs and resource use. Growing demand for sustainability solutions from all size of organizations is supporting the market growth on a large scale.

SUSTAINABILITY MANAGEMENT SOFTWARE MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into On-Cloud, On-Premise.

• On-Cloud: On- cloud is a term which is used to define software solutions hosted remotely in the cloud. Such applications can be accessed over the internet through any inter-connected device. Cloud based solutions offer several advantages such as better scalability and easy access from anywhere, real-time monitoring data, low operating costs which is leading its use in widespread technology all over the world.

• On-Premise: On-premise is a term used for the cloud computing software which is installed and can be used as an end user’s own server or workstation. The end user then can obtain the IP address provided by the server using remote access software. On-Premise software usually used in the applications such as CRM, Enterprise resource planning and supply chain management.

By Application

Based on application the global market can be categorized into IT & Telecommunication, Healthcare, Automotive, Manufacturing, Oil & Gas, Others.

• IT & Telecommunication: Sustainable management software solutions helps to trace the IP address of the service provider through the internet using remote access software.

• Healthcare: In healthcare sector, sustainable management software solutions are used in hospitals and clinics due to rising awareness about patient’s safety.

• Automotive: The demand for electronic vehicles in the automotive sector is monitored by sustainable management software for the road safety purpose.

• Manufacturing: A rapidly growing industry and investments in digitization are some of the key factors behind the region's growth.

• Oil & Gas: Sustainable management software solutions are used in oil and gas sector to keep an eye on the energy production and GHG emissions.

DRIVING FACTORS

"Growing Investment In EH&S And Sustainability Software Is Expected To Boost The Market Growth During The Forecast Period"

In various sectors such as oil and gas exploration and production, large organizations are focusing on value creation strategies. through sustainability. These organizations plan to improve return on capital by reducing operating costs while improving natural resource management to achieve this goal. In addition, key organizations in the market regularly review their business portfolio to identify the potential impact of trends on exploiting new growth opportunities. For example, in March 2016, the international steel company ArcelorMittal incorporated sustainability into its organizational plan through a section dealing with scientific analyzes of the life cycles of steel products.

"Increasing Shift Towards Green Initiatives Will Expand The Market"

A global shift towards green initiatives will contribute to the sustainability management software market growth significantly. The use of green energy is the most effective way to countering the challenge of greenhouse gas emissions. Green energy can be produced by using natural renewable resources as raw materials. Sustainable management software provides a detailed report on monitoring the amount of CO2 produced by organizations per unit production which can help to reduce GHG emissions by monitoring, plan and record the organizations carbon emissions. It helps to generate awareness about the hazardous effect of greenhouse emissions and implement effective cost saving measures by reducing electricity and heating-cooling bills.

RESTRAINING FACTORS

"Lack Of Standard Training Development Impede Market Growth"

Lack of standard training development is one of the major challenges that hinder the market growth. Technological advancements and lowering prices of electronic products encourage customers to buy new products leading an increase in amount of potentially environmentally hazardous e-waste.

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SUSTAINABILITY MANAGEMENT SOFTWARE MARKET REGIONAL INSIGHTS

"North America Dominating the Market due to Technological Advancements, Strict Government Enforcement"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

TheNorth America is expected to dominate the largest sustainability management software market share in terms of revenue. North America will maintain its leading position due ton several growth factors such astechnological advancements, strict government enforcement and increased focus on carbon footprint reduction and greenhouse gas regulations during forecast period. In addition, organizations are focusing on developing innovative solutions that will reduce operating costs and improving productivity by making business process more efficient.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The sustainability management software market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Top Sustainability Management Software Companies

• Schneider Electric (France)
• IBM (U.S.)
• SAP SE (Germany)
• Broadcom (U.S.)
• Verisae (U.S.)
• Thinkstep (Germany)
• Urjanet (U.S.)
• Accuvio (Ireland)

INDUSTRIAL DEVELOPMENT

October 2023: SAP has announced the release of its latest sustainability management solution, SAP Environment, Health and Safety Management (EHS). SAP EHS is a cloud-based software that helps companies manage environmental, health and safety compliance.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.