To represent 43% of total worldwide spending on carbon management software and services in 2017
The market for carbon management software and services in North America will become the largest in the world in 2013, reaching just over $1.1bn, or 41% of the global market, according to a report from Pike Research.
The research firm said that while governmental efforts to limit emissions of greenhouse gases (GHG) are much more active and visible in Western Europe than in the US, the business reality is that North American organisations are undertaking serious and far-reaching initiatives to reduce their carbon footprint.
In 2017, the cleantech market intelligence firm forecasts, total worldwide spending on carbon management software and services will be $5.7bn. North America will represent 43% of that, said Pike Research.
"Although the United States has been unable to pass a national climate and energy bill, it is becoming increasingly clear that U.S. corporations are taking the lead in shaping an environmental and sustainability agenda for the country," said senior analyst Marianne Hedin.
"Today, an overwhelming majority of Fortune 500 companies are voluntarily measuring, managing, and reporting on their carbon emissions."
The growing importance of data management, analytics, and access to content will favor large vendors with expertise in these areas. Pike Research’s analysis found that, as the carbon management market matures, revenue from services will increase their lead over software purchases as the largest industry segment. Hedin forecasted that services will grow from 55% of the total market in 2010 to 67% by 2017.
