USD 0.70 billion
Report ID:
SQMIG45E2078 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|Tables:
145
|Figures:
78
ESG Software Market size was valued at USD 0.81 Billion in 2023 and is poised to grow from USD 0.94 Billion in 2024 to USD 3.06 Billion by 2032, growing at a CAGR of 15.90% during the forecast period (2025-2032).
Companies use ESG software to manage and report on their sustainability programs, which include monitoring supply chain risks, tracking carbon emissions, and disclosing diversity and inclusion initiatives. Increased regulatory requirements for ESG reporting, expanding consumer demand for sustainable goods and services, and mounting investor pressure to invest in companies that are socially and ecologically conscious are just a few of the drivers driving the market for ESG software.
The ESG software market has a broad number of participants, including both established large enterprise software firms and smaller startups. Sustainalytics, MSCI, SASB (Sustainability Accounting Standards Board), and GRI are a few of the leading companies in the field (Global Reporting Initiative). As more businesses prioritize sustainability and ESG reporting becomes more crucial for investors and stakeholders, the market for ESG software is predicted to expand over the coming years. Yet, as new competitors enter the market and established players increase their offerings by adding fresh features and capabilities, the industry is also getting more competitive.
US ESG Software Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 0.70 billion
Largest Segment
BFSI
Fastest Growth
BFSI
Growth Rate
15.90% CAGR
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Global ESG Software Market Share is segmented based on component, deployment type, type, organization size, vertical, and region. Based on Component the ESG Software Market is segmented into Solutions, Services. Based on deployment type the ESG Software Market is segmented into On-premises, Cloud. Based on organization size the ESG Software Market is segmented into SMEs, Large Enterprises. Based on Vertical, the ESG Software Market is segmented into BFSI, IT and ITeS, government and public sector, manufacturing, retail and consumer goods, healthcare and life sciences, energy and utilities other verticals. By type, the ESG Software Market is segmented into Climate change software, sustainability reporting software, ESG data management software, ESG risk management software, and others. Based on region the global ESG Software Market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Vertical
During the projected period, the BFSI segment dominated the market for ESG Software in 2022. Strict laws, such as those controlling reporting and transparency, apply to the BFSI sector's ESG activities. To assist businesses in complying with these standards, these restrictions have prompted the use of ESG software solutions.
Analysis by Deployment
The cloud-based deployment segment is expected to witness the highest growth due to its flexibility, scalability, and cost-effectiveness. Cloud-based deployment refers to the installation of ESG software on a remote server and accessed through the internet. This deployment mode is preferred by organizations looking for flexibility, scalability, and cost-effectiveness. The cloud-based deployment mode is expected to witness significant growth due to the increasing adoption of cloud-based solutions and the benefits offered by cloud-based deployment, such as reduced capital expenditure and easy accessibility.
The on-premises deployment mode is expected to witness moderate growth due to the need for complete control over the software and data. On-premises deployment refers to the installation of ESG software within an organization's IT infrastructure. This deployment mode offers complete control over the software and data and is preferred by organizations with stringent security and compliance requirements. The on-premises deployment mode is expected to witness moderate growth due to the high cost of implementation and maintenance.
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The North America region is anticipated to dominate the global ESG Software market. The presence of large players, established diagnostic and screening infrastructure, technological breakthroughs, high patient awareness, and reimbursement regulations are the main drivers of this region's dominance.
Due to the rising incidence of breast cancer and the adoption of cutting-edge diagnostic methods, the market for ESG Software in Asia Pacific region is anticipated to experience the greatest CAGR over the forecast period. Additionally, it is anticipated that expanding healthcare infrastructure and bettering reimbursement policies will promote market growth.
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Drivers
Restraints
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In recent years, the market for ESG (Environmental, Social, and Governance) software has expanded quickly as more and more businesses understand the value of sustainability and ethical business practices. As a result, there are currently numerous businesses that provide ESG software solutions, and the industry is highly competitive. The breadth and depth of their ESG data and analytics, the adaptability and customizability of their software solutions, and the caliber of their customer service and support are important characteristics that distinguish ESG software suppliers. It is anticipated that competition in the industry will only get tougher as long as demand for ESG solutions increases.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global ESG software market analysis, due to rise in demand for ethical and sustainable investments, economic reductions, improved risk management, as well as company reputation management are the major factors driving market growth.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 0.81 Billion |
Market size value in 2032 | USD 3.06 Billion |
Growth Rate | 15.90% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the ESG Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the ESG Software Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the ESG Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the ESG Software Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45E2078
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