Sustainability and energy management software is basically a database of information that relates to the usage of energy, resources, financial data and other important factors that helps enterprises make their operations sustainable and efficient. In most cases, sustainability and energy management software solutions are used by enterprises to enhance their energy and sustainability business performance through automated data management, analysis and reporting. These type of solutions act as a tool for project planning and management, scenario planning, portfolio management and supply chain management, which helps attain the goals of sustainability of process and energy saving. In addition to delivering value to shareholders and investors, companies today are facing close scrutiny to contribute positively to environmental and sustainability goals and achieve a greater business value. To aid this process, sustainability and energy management software is used to maximize the use of scarce resources and reduce the carbon footprint to achieve greater output in a manner that is environmentally friendly.
The global sustainability and energy management software market is estimated to be valued at nearly US$ 900 Mn in the year 2017 and is expected to touch a figure of more than US$ 1700 Mn by the end of 2024. The market is expected to register a total incremental opportunity of nearly US$ 1000 Mn between the years 2016 and 2024. The global sustainability and energy management software market is projected to register a CAGR of 10.8% during the forecast period (2016-2024).
Increased awareness amongst organizations regarding sustainability management
Presently, there is an enhanced awareness regarding the concept of sustainability and energy management in companies, instead of just treating it as a regulatory obligation. This is especially true of companies operating in the manufacturing, chemicals and oil and gas sectors. Several parameters are now coming in the ambit of sustainability management such as supply chain de-risking, operating in resource stressed areas, reliable and cost-efficient energy supplies and product stewardship initiatives, etc. Another way to look at this emerging situation is the increasing competition amongst companies and due to this intense competition, companies are looking to differentiate themselves by adopting sustainable and energy saving methodologies in their business processes, which sets them apart from competition.
Lack of strict regulations in the field of environmental protection in emerging economies is hampering the growth of the global sustainability and energy management software market
In emerging economies such as India and China, small and medium enterprises are a major source of environmental pollution. As the awareness regarding protection of the environment and sustainable practices is low amongst the strata of such size of companies, they don’t take such issues seriously and there is a lax attitude. Significant investments regarding sustainable processes and pollution control are only made in large enterprises, while medium and small enterprises go off the hook. Hence, enforcement of pollution standards is uneven and only government owned enterprises are generally subject to checks, while small scale enterprises are spared from such liabilities. It is also seen in developing economies that there is a huge variation in the process of economic planning and environmental protection goals, leading to the latter being not implemented or being poorly implemented.
Global sustainability and energy management software market analysis and forecast by end use application
As far as revenue is concerned, the building automation segment is projected to be the most attractive segment in the global sustainability and energy management software market during the projected period of this study. The building automation segment is anticipated to exhibit high year-on-year growth rates throughout the forecast period and is estimated to register a CAGR of 13.2% between the years 2016 and 2024. The oil and gas segment was valued at nearly US$ 190 Mn in 2015 and accounted for 27.2% of the global market revenue share that year. This segment is expected to emerge dominant by the end of the year 2024, accounting for a revenue share of 28.3%. The strong growth of the building automation segment in terms of CAGR is partly due to the fact that this segment is growing from a smaller base as compared to the oil and gas and manufacturing segments, and partly due to the fact that new buildings are increasingly adopting sustainable architectural practices, mainly to reduce the emissions of greenhouse gases.
“Enterprises are utilizing sustainability and energy management software to enhance their brand value
Initially, most of the enterprises were utilizing traditional sustainability reporting formats to communicate their progress, due to which they were losing the brand value associated with their social and environmental achievements. However, with growing awareness regarding brand value and reputation, along with leveraging the advantage of advanced information technologies to gain competitive advantage, enterprises are replacing these custom-built legacy systems with commercial sustainability and energy management software.”
--- Analyst – IT and Telecommunications, Persistence Market Research
Persistence Market Research presents a comprehensive analysis of the global sustainability and energy management software market in a new publication titled ‘Sustainability and Energy Management Software Market: Global Industry Analysis and Forecast, 2016–2024’. In this report, Persistence Market Research has focused on offering detailed insights and in-depth research on the global sustainability and energy management software market over an eight year forecast period 2016 – 2024. The report covers the important factors driving the expansion of the global sustainability and energy management software market, untapped opportunities for market players in this field, trends and developments shaping the dynamics of the global sustainability and energy management software market and other insights across various key segments. In addition, the report identifies the key drivers and restraints affecting the development of the global sustainability and energy management software market. Changing trends are also analyzed and incorporated to equip clients with exhaustive information about the market resulting in better decision making. Macroeconomic factors that directly and indirectly affect the performance of the global sustainability and energy management software market are also incorporated in the report.
This research report provides detailed analysis of the global sustainability and energy management software market and offers insights on the various factors driving popularity of these products and devices. The market study provides a comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. The report segregates the market based on sustainability and energy management software solutions across the different assessed regions. The report starts with an overview of the global sustainability and energy management software market performance in terms of value. In addition, this section includes an analysis of key trends, drivers and restraints from the supply, demand and economy side, which are influencing the global sustainability and energy management software market. Impact analysis of key growth drivers and restraints, based on the weighted average model is included to facilitate clients with pertinent decision-making insights.
Key Regions Covered
A detailed analysis has been provided for every segment in terms of market size for sustainability and energy management software across the different regions. This particular section provides a detailed analysis covering key trends, absolute dollar opportunity analysis and BPS analysis.
The next section presents a detailed analysis of the global sustainability and energy management software market across various countries in the assessed regions. It provides a market outlook for 2016–2024 and sets the forecast within the context of the global sustainability and energy management software market including latest technological developments as well as service offerings in the market. This study discusses key trends within countries contributing to the growth of the market, as well as analyses the degree to which drivers are influencing this market in each region. Key regions and countries assessed in this report include North America (U.S., Canada), Latin America (Argentina, Brazil, Mexico, Rest of Latin America), Europe (Germany, UK, France, Italy, Spain, Nordic, Benelux, Russia, Poland and Rest of Europe), Asia Pacific (China, India, ASEAN, and Japan, Australia & New Zealand) and MEA (North Africa, South Africa, GCC, Rest of MEA).
The final section of the report is reserved for an exclusive competitive landscape to provide clients with a dashboard view based on categories of providers in the value chain, presence in the global sustainability and energy management software portfolio and key differentiators. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the global sustainability and energy management software value chain and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of capabilities and success in the marketplace. Detailed profiles of providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the global sustainability and energy management software market.
To calculate the global sustainability and energy management software market size, the report considers country-wise solutions market, country-wise IT spending, country wise scenario of each end-use application segment and respective consumer spending, adoption rates of sustainability management solutions across various verticals, related solutions and services across regions and revenue contribution of the top players. The forecast presented here assesses the total revenue by value across the market and to offer an accurate forecast, the report starts by sizing the current market, which forms the basis of how the global sustainability and energy management software market will develop in the future.
The report conducts forecasts in terms of CAGR and also analyzes the global sustainability and energy management software market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the market. Further, the different market segments in terms of software, end use application, module and based on different regions are analyzed in terms of basis point share to understand segmental contribution to market growth, thereby enabling the identification of various key trends of the global sustainability and energy management software market. Another key feature of this report is the analysis of all market segments in terms of absolute dollar opportunity, critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global sustainability and energy management software market.