Rockville , Jan. 25, 2024 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Sustainability Energy Management Software Market is set to reach US$ 1.7 billion by the end of 2024, according to a new research report published by Fact.MR, a market research and competitive intelligence provider. The market is forecasted to expand rapidly and reach a value of US$ 5.2 billion by 2034-end.
Governments in different countries around the world are implementing laws and regulations to minimize carbon emissions, which are projected to stimulate the adoption of sustainability energy management software. Several areas, including residential, commercial, and industrial, are inclined to adopt sustainability energy management software to minimize energy consumption and work toward decarbonization.
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Key Segments of Sustainability Energy Management Software Market Research Report
| By Deployment | By Module | By End-use Application | By Region |
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Furthermore, the integration of smart technologies and IoT offers real-time monitoring systems, offering organizations more granular data for decision-making.
Digital technologies are forecasted to transform energy systems in the coming 10 years, making them more sustainable, reliable, and connected. Sustainability energy management software aids in ensuring maximum utilization of scarce resources and minimizing carbon footprint to attain the goal of sustainability with an environment-friendly approach. Cost-efficient and reliable energy supplies, supply chain de-risking, and product stewardship initiatives are some of the methods used in sustainability software by companies to get a competitive edge.
Key Takeaways from Market Study
- The global sustainability energy management software market is estimated at US$ 1.7 billion in 2024.
- Demand for sustainability energy management software is forecasted to reach a market valuation of US$ 5.2 billion by the end of 2034.
- The market is projected to expand at a significantly high CAGR of 11.8% from 2024 to 2034.
- Global demand for sustainability energy management software for building automation is projected to reach a valuation of US$ 1.33 billion by the end of 2034.
- The market in the United States is forecasted to expand at 12.5% CAGR and reach US$ 1.1 billion by the end of 2034.
“Implementation of several laws and regulations aiming to minimize energy consumption along with growing awareness about energy conservation is projected to act as a driving force for the adoption of sustainability energy management software,” says a Fact.MR analyst.
Increasing Demand for Electricity Generating Need for Sustainability Energy Management Software in North America
Demand for sustainability energy management software in North America is forecasted to increase at a CAGR of 12.3% and reach a valuation of US$ 1.5 billion by the end of 2034. Growing investments in the installation of smart meters are projected to drive demand for sustainability energy management software in the region. In addition, increasing use of electricity across the residential sector is also projected to positively influence demand for sustainability energy management software.
Key Market Players
Leading sustainability energy management software providers are Siemens, General Electric, Emerson, Schneider Electric, IBM Corp., UL EHS Sustainability, Sphera, Accuvio, Figbytes Inc., Gensuite LLC, Envivi, SAP SE, Ecova, Inc., Verisae, Inc., and CA Technologies.
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| Report Attribute | Details |
| Value Projection (2034) | USD 5.2 Billion |
| Growth Rate (2024-2034) | 11.8% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Global Trends in Sustainable Energy Management: Insights from East Asia and North America
By 2034, East Asia is anticipated to command a 38.4% share of the global market. The swift pace of infrastructure development and urbanization in China is expected to drive the need for sustainable and efficient energy management. Sustainability energy management software plays a pivotal role in ensuring the eco-friendliness and energy efficiency of both existing infrastructure and upcoming projects.
In North America, the United States is forecasted to contribute 73.3% of the regional market revenue by 2034. Stringent regulations on energy efficiency and environmental sustainability have been enforced, leading to an increased adoption of sustainability energy management software by businesses aiming to avoid penalties and comply with regulations. Many U.S. companies are integrating sustainability goals into their corporate strategies, with the use of sustainable energy management software facilitating the monitoring and control of energy consumption.
China, in the East Asia region, is predicted to hold a substantial 69.1% market share by 2034. The country faces challenges related to environmental pollution and air quality, prompting a heightened focus on clean energy and sustainable practices. Sustainability energy management software enables businesses to contribute to environmental improvement by optimizing energy usage.
The escalating energy prices in China are expected to prompt businesses to seek ways to reduce operational expenses and enhance energy efficiency. Sustainability energy management software provides companies with a valuable tool to identify areas for improvement and implement measures to save energy.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the sustainability energy management software market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on deployment (cloud-based, on-premise), module (utility data management, carbon reporting & management, sustainability reporting & management, energy optimization, facility & asset management, compliance management), and end-use application (automotive, building automation, oil & gas, manufacturing, pharmaceuticals, utilities & energy), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
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