The industrial sustainability & energy management software consist of solutions that help towards reducing energy costs and predicting energy requirements. It allows corporations to track and manage data, set emission reduction and energy efficiency targets, analyze consumption metrics, track progress and optimize the use of resources to cut costs. These software integrate all key global greenhouse gas standards and protocols that enable organizations to comply with mandatory and legal requirements. Sustainability & energy management software are now equipped with carbon management, initiative management and disclosure reporting that helps in capturing key sustainability metrics in real-time, eliminate reporting risk and further reduce operational costs.
Sustainability & energy management software market is segmented on the basis of deployment type, service, application and region. By deployment type, sustainability & energy management software market can be segmented into on-premise and cloud deployment. Sustainability & energy management software market can be segmented according to service which includes implementation service, consulting service, outsourcing service and support services. On the basis of software, sustainability & energy management software market can be segmented into carbon reporting & management software, air quality management software, sustainability management software, emission monitoring & management software, demand response software and other software. Regionally, sustainability & energy management software market can be segmented into North America, Western Europe, Latin America, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan.
The energy management software tracks the energy consumption data and works as a monitoring solution to strategically improvise the energy efficiency of industries. These solutions are now equipped with customizable rich features and are thus gaining popularity globally. North America is estimated to be the leading contributor to the regional market share, with Asia Pacific excluding Japan anticipated to show highest growth potential in the forecast period.
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Introduction of mandatory regulations and policies pertaining to reduction in carbon footprint of industries by governments across the countries globally is the major driver fueling the growth of sustainability & energy management software market. Additionally, growing inclination of organizations towards using such solutions to differentiate themselves from other brands is another factor contributing towards the growth of this market. Furthermore, increasing adoption of these solutions by industries to manage operational costs is also aiding the growth of sustainability & energy management market. However, organizations perceive these solutions as additional overhead costs. This, in turn, is restraining the growth of this market. Also, lack of training and development opportunities is also hindering the progression of sustainability & energy management software market.
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The key vendors in the sustainability & energy management software market include Enablon SA, Thinkstep AG, CA Technologies, Schneider Electric SE, CloudApps Ltd., SAP SE, Envizi, Verisae Inc., CR360 LLC, IHS Inc. and others. Major players in the sustainability & energy management software market have invested millions of dollars in developing solutions that offer full breadth of sustainability software functionality. To expand market presence across the globe, strategic partnership and collaborations with regional vendors is major strategy adopted by the leading vendors of the sustainability & energy management software market.