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The Global Carbon Footprint Management Market is estimated to be USD 9.2 Bn in 2020 and is expected to reach USD 13.2 Bn by 2025, growing at a CAGR of 7.5%.
Key factors such as high energy consumption for industrial applications has resulted in higher CO2 emission rates. This has been one of the prominent reasons for higher carbon footprints. Therefore there has been increasing concern amongst the corporates to lower the carbon emissions by following mandated regulations and bringing about certain operational efficiencies.
Also, large corporations have led initiatives through CSR activities aimed at achieving environmental sustainability and reducing the carbon footprint. These factors are driving the growth of the market for carbon footprint management.