Sustainability and energy management software a system database of information associated with financial data, energy, resources, and other important factors. These solutions are comprised of project planning and management, portfolio management, scenario planning, and supply chain management thereby allowing the transformation of corporate energy and sustainability practices. Along with having increased financial responsibilities to shareholders and investors, enterprises face pressure regarding compliance with legal requirements to disclosing non-financial metrics as well.
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
Sustainability energy management software market analysis
1. Coherent Market Insights
Market Research and Business Consulting
Services
https://www.coherentmarketinsights.com/
SUSTAINABILITY & ENERGY MANAGEMENT SOFTWARE
MARKET ANALYSIS
2. Market Overview
Sustainability and energy management software a system
database of information associated with financial data,
energy, resources, and other important factors. These
factors aid enterprises to monitor, analyze, and control
operations. This software is designed to help enterprises
enhance energy and sustainability business performance
through automated data analysis, management, and
reporting. Currently, enterprises are necessitated to monitor
and analyze their performance in numerous ways.
Sustainability & energy management software support
increased use of software in operations, compliance with
regulatory obligations, streamlining of processes, effective
understanding of risks, overlapping reporting requirements,
etc.
The global sustainability & energy management software
market is estimated to account for US$ 2,326.2 Mn in terms
of value by the end of 2027.
3. Market Dynamics- Drivers
1. Increasing investments EH&S and sustainability software is expected
to drive growth of the global sustainability & energy management
software market during the forecast period
Major organizations in various sectors such as oil & gas exploration and
production are focused on strategizing, in order to create value through
sustainability. These organizations seek to improve returns on capital day by
reducing operating costs via improved natural-resource management, in
order to achieve this goal. Moreover, key organizations in the market are
regularly revising their business portfolios, in order to determine the potential
impact of trends to leverage new growth opportunities. For instance, in March
2016, ArcelorMittal, a multinational steel manufacturing corporation,
incorporated sustainability in its organizational design through a department
for scientific analyses of the life cycles of steel products.
2. Constant increase in regulatory obligations and industry guidelines are
expected to propel the global sustainability & energy management
software market growth over the forecast period
Major resource-focused industries use a large amount of water, raw
materials, energy, and water resources. This, in turn, leads to a large number
of emissions, solid waste, and effluents. Generally, these industries are
subjected to various regulatory policies and norms. Furthermore, enterprises
are focused on adopting sustainability management solutions in order to
comply with strict regulatory policies. Therefore, these factors are expected
to propel the global sustainability & energy management software market
growth in the near future.
4. Statistics:
North America held dominant position in the global sustainability & energy
management software market in 2019, accounting for 36.3% share in terms
of value, followed by Europe, APAC, Latin America, and MEA respectively.
Figure 1: Global Sustainability & Energy Management Software
Market Share (%), in terms of Value, By Region, 2019
5. Market Dynamics- Restraints
1. Lack of data, standards, and common practices within and across
companies is expected to restrain growth of the global sustainability &
energy management software market during the forecast period
There is a lack of reliable data, standards, and common practices within and
across companies, which results in missed opportunities. Only major
enterprises are practicing green initiatives such as lighting replacements,
enhanced procurement strategies, and taking advantage of tax benefits for
renewable energy generation. However, SMEs from emerging economies
are yet to implement green initiatives, which in turn, is expected to restrain
growth of the global sustainability & energy management software market
during the forecast period.
2. Non-compliance to government regulations is expected to hamper the
global sustainability & energy management software market growth
over the forecast period
Stringent government measures regarding environment protection often
impose market access restrictions on for enterprises, which in turn affect
competitiveness. The effect of such measures is comparatively more
pronounced in emerging economies mainly due to lack of infrastructure and
monitoring facilities, limited technology choices, inadequate access to
environment-friendly raw materials, lack of reliable data, and large number
of small-scale exporters. For instance, in developed economies such as the
U.S., Canada, and countries in Europe, SMEs in the leather sector have
vanished due to strict environmental legislation. However, in emerging
economies, majority of the tanning industry comprises SMEs processing raw
to semi-finished leather.
6. Market Opportunities
1. Growing adoption of cloud computing can present lucrative growth
opportunities
Many sectors have started adopting cloud computing for various
applications. However, its benefits still remain undervalued in the
sustainability and energy management space. Cloud-based technology
provides various benefits of updating and upgrading software in real-time,
thereby allowing users to utilize data more efficiently. It can be adopted in
enterprises to gain significant benefits such as robustness, scalability,
reduced complexity, low cost, and granular level of visibility of sustainable
information. Moreover, these solutions can help companies improve their
performance, achieve greater return on investment, and generate more
efficient reports.
2. Providing end-to-end customer experience can offer major business
opportunities
SMEs are demanding software solutions that are sophisticated, convenient,
and provide value-for-money. Thus, delivering different choices in options
can create immense potential revenue opportunities for sustainability &
energy management software vendors. Providing an end-to-end customer
experience that complies with industry standards can offer major business
opportunities for market players in the near future.
7. Figure 2: Global Sustainability & Energy Management Software
Market Value (US$ Mn), 2017 - 2027
The global sustainability & energy management software market was valued
at US$ 987.7 Mn in 2019 and is forecast to reach a value of US$ 2,326.2 Mn
by 2027 at a CAGR of 11.4% between 2020 and 2027.
8. Market Trends
1. Constant partnership and collaboration activities among major
companies
Key players operating in the market are focused on partnerships and
collaborations, in order to expand portfolio and gain a competitive edge in
the market. For instance, in October 2016, Schneider Electric partnered with
Panasonic Corporation, which is a developer electronics technologies and
solutions, in order to simplify energy management with innovative integration
and optimize building efficiency and installation costs. In February 2016, IBM
Corporation partnered with Siemens Building Technologies Division and
launched cloud-based building management platform leveraging enterprise
asset management and data analytics technologies.
2. Increasing merger and acquisition activities is another trend
Major market players are involved in merger and acquisition activities, in
order to enhance the market presence and gain a significant advantage. For
instance, in 2016, Accruent acquired Verisae Inc., in order to improve its
market reach and industry visibility. Furthermore, in 2016, Accruent acquired
BigCenter (Business Integration Group, Inc.).
9. Value Chain Analysis
Software industry value chain consists of a complex structure which includes
several stages, with each stage further disaggregated in multiple activities.
Interactions and linkages established between each phase and among
different stages are the main determinant of the industry effectiveness and
success.
Competitive Section
Key players operating in the global sustainability & energy management
software market are IBM Corp. (TRIRIGA), Figbytes Inc., Schneider Electric,
Gensuite LLC, SAP SE, Envizi, ICONICS, Inc., Ecova, Inc. Urjanet, Verisae,
Inc., Thinkstep, UL EHS Sustainability, Enablon, Sphera, CA Technologies,
and Accuvio.
Key Development
1. Major companies in the market are focused on mergers and acquisitions, in
order to enhance the market presence. For instance, in February 2017, IBM
Corporation acquired privately-held TRIRIGA, Inc., a provider of estate
management software solutions.
2. Key players in the market are involved in product launches, in order to gain
a competitive edge in the market. For instance, in March 2020, Schneider
Electric introduced a new estate management software EcoStruxure.
11. About Us
Coherent Market Insights is a global market intelligence and
consulting organization focused on assisting our plethora of
clients achieve transformational growth by helping them make
critical business decisions.
What we provide:
Customized Market Research Services
Industry Analysis Services
Business Consulting Services
Market Intelligence Services
Long term Engagement Model
Country Specific Analysis
12. Contact Us
Mr. Shah
Coherent Market Insights Pvt.Ltd.
Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Phone: +1-206-701-6702
Email: sales@coherentmarketinsights.com
13. Thank You!
Kindly follow CMI Social Media Profiles for the latest
company updates
Facebook
Linkedin
Twitter
https://www.coherentmarketinsights.com/