Carbon Footprint Management Market Players Use Blockchain Technology to Improve Carbon Traceability: The Business Research Company
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LONDON, 31 October 2022 /PRNewswire/ — Among the market trends for carbon footprint management, blockchain technology is gaining ground. Service providers in the carbon footprint management market are increasingly using blockchain technology to improve carbon traceability. Blockchain technology helps track and analyze energy consumption data in real time. IN March 2022, the VeChain Foundation, a blockchain technology provider, announced a partnership with Amazon Web Services (AWS), a US-based cloud computing service provider, to support the VeCarbon platform. The platform will merge blockchain with a carbon-neutral digital infrastructure and help businesses manage their carbon footprints and emissions targets.
The global carbon footprint management market size is expected to grow from 7.76 billion dollars in 2020 to 8.63 billion dollars in 2021 with a compound annual growth rate (CAGR) of 11.3%. The Russia–Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions against several countries, increases in commodity prices and supply chain disruptions, which have affected many markets around the world. The carbon footprint management market share is expected to reach 11.50 billion dollars in 2025 with a CAGR of 7.4%.
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Data security concerns inhibit carbon footprint management market growth
The implementation of the UN climate conference, more often referred to as COP26 expected to drive the carbon footprint management market. To accelerate adoption, 5 billion tonnes of carbon dioxide must be removed from the atmosphere by 2050. According to the World Energy Outlook-2021 which was published in mid-October 2021more than 120 countries announced new targets for emissions reductions by 2030, and governments representing approximately 70% of global carbon dioxide (CO2) emissions had pledged to bring these emissions to zero by 2050.
Carbon Footprint Management Market Trends – Increasing acceptance of telemedicine
IBM Corporation was the largest competitor in the carbon footprint management market in 2021, with a market share of 14.39%. IBM Corporation’s strategy is focused on launching new technologies to help companies meet sustainability goals and climate risks. For example in October 2021IBM announced a suite of environmental intelligence software that leverages AI to help organizations prepare for and respond to weather and climate risks that can disrupt business, more easily assess their own impact on the planet, and reduce the complexity of regulatory compliance and reporting.
Carbon Footprint Management Market players
Major players in the Carbon Footprint Management market are Accuvio, Carbon EMS, Enviance, EnergyCAP LLC, ENGIE Impact, Envirosoft Corporation, Intelex Technologies Inc., IsoMetrix Software, Locus Technologies, NativeEnergy Inc., SAP SE, Johnson Controls, Accenture PLC, IBM Corporation, Schneider Electric SE, Natural Capital Partners, VelocityEHS and Carbon Trust.
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