The sustainability and energy management software provides key solutions to organizations through effective tracking and monitoring their carbon footprint, greenhouse gas emissions, energy consumption and water usage. The software enables enterprises to gain insights into their sustainable operations and make strategic decisions towards achieving sustainability goals. Features like automated data collection, reporting, auditing and renewal track the organization’s progress toward sustainability with time.
The global Sustainability And Energy Management Software Market is estimated to be valued at US$ 1521.13 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the sustainability and energy management software market is the integration of AI and IoT capabilities. Vendors are integrating artificial intelligence and machine learning algorithms into their solutions to provide predictive analysis of resource consumption patterns. This helps organizations take proactive steps to optimize operations. Sensors and other IoT devices deployed across facilities feed real-time data into the software for accurate monitoring and reporting. The software integrated with AI and IoT enables enterprises to gain a holistic view of their sustainability performance and make informed decisions. Another trend is the adoption of cloud-based deployment models which provide flexibility, scalability and lower upfront costs to users. Vendors are focusing on cloud offerings to tap into the increased demand from small and medium enterprises adopting sustainability initiatives.
Threat of new entrants: The sustainability and energy management software market has moderate threat of new entrants as it requires high upfront costs for R&D and customer acquisition.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of numerous software providers and standardized product offerings.
Bargaining power of suppliers: Suppliers have low bargaining power as there are many software providers that can be alternatives.
Threat of new substitutes: Threat of substitutes is low as sustainability and energy management software is unique.
Competitive rivalry: The market experiences high competitive rivalry among key players to gain higher market share.
The Global Sustainability And Energy Management Software Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The global Sustainability And Energy Management Software Market is estimated to be valued at US$ 1521.13 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030.
Regional analysis: North America is expected to hold the largest share of the market during the forecast period due to strong presence of key players along with advanced technologies in countries like US and Canada.
Key players: Key players operating in the sustainability and energy management software market include Becton, Dickinson and Company, Pfizer Inc., Gerresheimer AG, B. Braun Medical Inc., Grifols S.A, Baxter International, Inc., Fresenius Kabi AG, Mylan N.V., Bayer AG, F. Hoffmann-La Roche AG, Farmoquimica S.A., Novartis International AG, Eli Lily and Company, Nacional S.A., Aspen Pharmacare Holdings Limited, Blau Farmaceutica S.A., Eurofarma, Ache Laboratorios Farmaceuticos SA, LEMS Pharma, and Hipolabor Farmaceutica Ltda.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it