April 20, 2024
Sustainability And Energy Management Software Market

Sustainability And Energy Management Software Market is growing rapidly with Increased Focus on Green Initiatives

The sustainability and energy management software market provides advanced solutions to help organizations streamline sustainability and energy management programs. These solutions help track and report on sustainability performance indicators, monitor and optimize energy usage, reduce carbon footprint, and ensure compliance with regulations through centralized dashboards and automated workflows.

The Global Sustainability And Energy Management Software Market is estimated to be valued at US$ 1752.35 Mn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period from 2024 to 2030.

Key Takeaways

Key players operating in the Global Sustainability And Energy Management Software Market Size are GlaxoSmithKline plc, Pfizer Inc., Novartis AG, AstraZeneca plc, Teva Pharmaceutical Industries Ltd., Mylan N.V., Sanofi S.A., Johnson & Johnson, AbbVie Inc., Eli Lilly and Company, Merck & Co., Inc., Bristol-Myers Squibb Company, Boehringer Ingelheim International GmbH, Sun Pharmaceutical Industries Ltd., Lupin Limited. Key players help customers achieve their sustainability goals through robust analytics and reporting, integrated solution suites, continuous innovation, and global reach.

Growing environmental awareness and stringent regulations around the world are major factors fueling the demand for sustainability and energy management software. Organizations across industries are increasingly adopting these solutions to quantify and curb emissions, optimize resource consumption, and gain transparency into sustainability performance.

The market is also witnessing strong growth in terms of global expansion as key players are focusing on expanding their footprint through acquisitions and partnerships. For example, leading players have acquired technology startups and partnered with consulting firms to extend their capabilities and better serve the needs of multinational clients.

Market key trends

One of the key trends gaining momentum in the sustainability and energy management software market is the adoption of artificial intelligence and machine learning capabilities. Vendors are integrating AI/ML features to arms customers with advanced analytics for predictive modelling, pattern recognition, and automated decision-making. This helps identify inefficiencies, reduce costs, streamline reporting, and improve sustainability initiatives with real-time actionable insights.

Porter’s Analysis

Threat of new entrants: New players will find it difficult to enter the market due to high initial investment required and presence of established players.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes.

Bargaining power of suppliers: Suppliers have low bargaining power due to presence of multiple suppliers.

Threat of new substitutes: Threat of substitution is low as there are limited substitutes available for sustainability and energy management software.

Competitive rivalry: Intense competition exists among existing players.

Geographical Regions

Currently, North America region dominates the sustainability and energy management software market in terms of value, holding around 35% of total market share. Stringent government regulations related to emission control and energy management along with presence of major players are major factors contributing to large market size of the region.

The Asia Pacific region is anticipated to grow at the fastest pace during the forecast period. Rapid industrialization and infrastructural developments coupled with increasing focus of organizations on sustainability goals are expected to drive the demand of sustainability and energy management software in Asia Pacific countries like China and India. Initiatives by governments to promote usage of renewable energy sources and reduce carbon footprint will further augment the market growth.

*Note:
1. Source: Coherent Market Insights, Public Sources, Desk Research
2. We Have Leveraged Ai Tool To Mine Information And Compile It