Software

Market for ESG reporting software worth 2.25 billion USD in 2031

JERSEY CITY, NJ, November 16, 2023 /PRNewswire/ — InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on “Global ESG Reporting Software Market – (By Component (Solutions, Services), By Deployment Type (On-Premise, Cloud), By Organization Size (Large Enterprises, SMEs), By Vertical (BFSI, Government, Public & Non-Profit, Retail) ), trends, industry competition analysis, revenue and forecast to 2031.”

According to the latest research from InsightAce Analytic Global market for ESG reporting software is valued at US$ 0.71 billion in 2022and it is expected to reach US$ 2.25 billion by 2031, with a CAGR of 13.86% in a forecast period 2023-2031.

ESG Reporting Software Market Report Scope

Report attribute

specifications

Market size value in 2022

USD 0.71 billion

Revenue forecast in 2031

USD 2.25 billion

Growth rate CAGR

CAGR of 13.86% from 2023 to 2031

Quantitative units

Representing revenue in million USD and CAGR from 2023 to 2031

Historic year

2019 to 2022

Forecast year

2023-2031

Report coverage

The forecast for revenue, the company’s position, the competitive market structure, growth prospects and trends

Covered segments

By component, by deployment type, by organization size, by vertical

Regional scope

North America; Europe; Asia and the Pacific; Latin America; Middle East and Africa

Country size

U.S; Canada; United Kingdom; Germany; China; India; Japan; Brazil; Mexico ; France; Italy; Spain; South Korea; Southeast Asia;

Competitive landscape

Wolters Kluwer (Netherlands), Nasdaq (USA), PwC (UK), Workiva (USA), Refinitiv (UK), Diligent (US), Sphera (USA), Cority (Canada), Intelex (Canada), Greenstone (UK) , Novisto (Canada), Emex (Ireland), Enhelix (USA), Anthesis (UK), Diginex (Hong Kong), Bain & Co. (USA), Keramida (USA), Isometrix (USA), Accuvio (acquired by Diligent) (USA).

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Recent developments:

  • IN May 2023traveled Novisto 20 million dollars in a Series B funding round led by Inovia Capital and went well. Portage and SCOR Ventures seeded the round, and White Star Capital and Diagram Ventures also seeded. Novisto used these funds to accelerate the creation of new products and their market growth.
  • IN March 2023, PwC and Sphera joined forces to accelerate the expansion of their market-leading ESG management platform. By combining their technology and strategy consulting strengths, Sphera and PwC hope to rapidly grow their client base, increase adoption of the Sphera platform’s features, and build a more robust digital ESG ecosystem for their clients.

List of Prominent Players in the ESG Reporting Software Market:

  • Wolters Kluwer (Netherlands)
  • Nasdaq (USA)
  • PwC (UK)
  • Workiva (USA)
  • Refinitive (UK)
  • Diligent (USA)
  • Sphera (USA)
  • Cority (Canada)
  • Intelex (Canada)
  • Greenstone (UK)
  • Novisto (Canada)
  • Emex (Ireland)
  • Enhelix (USA)
  • Anthesis (UK)
  • Diginex (Hong Kong)
  • Bain & Co. (USA)
  • Keramida (USA)
  • Isometrix (USA)
  • Accuvio (acquired by Diligent) (USA)
  • Others
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ESG Software is a platform that offers software as a service and optimizes ESG initiatives to improve company values ​​and investor selection. Sustainable investing, or ESG investing, is identifying the areas that together characterize a responsible, ethical or sustainable investment. Capital markets firms and investors use ESG software to assess corporate behavior, which helps predict the financial performance of companies in the future. These software systems are operated by a variety of companies to reduce or eliminate hazards related to their operations, assets and investments. ESG software platforms assist in investment assessments, leading to improved investment decision making. There are numerous players in the ESG software market, ranging from well-established, massive enterprise software companies to small startups. As the importance of ESG reporting to stakeholders and investors increases, the need for ESG software is expected to grow in the coming years.

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Market dynamics:

driver-

Increasing demand for digital substations can be attributed to the ESG program, which makes a brand more recognizable and even promotes brand loyalty. Consumers are more interested in buying ethically and are more fascinated by what companies are doing to promote sustainability. Research has shown that SMEs that have taken steps to address sustainability issues tend to attract more customers and consumers who are interested in doing business with companies that tackle these issues. By establishing an ESG program, small and medium-sized companies can create value.

Challenges:

The biggest challenge companies will face when creating ESG information is data governance. Many companies are starting to organize their data to comply with voluntary frameworks or even legal requirements. Determining sustainability is inherently complex, and ESG reporting is already creating problems for companies. It is difficult to provide a thorough, integrated picture of the advantages and disadvantages of ESG, as data is often manually documented in spreadsheets or is scattered around the company in silos. The global COVID-19 epidemic has caused a general decline in business activity and a detrimental impact on the worldwide economy. Due to supply chain disruptions, reduced productivity, downtime, unexpected organizational changes in work and inventory management issues, the pandemic has had a significant impact on a number of businesses. Although it may have suffered in the first few months, the market for ESG reporting software is expected to increase significantly in the coming months. Throughout the epidemic, the importance of ESG has increased dramatically. It was made clear by the epidemic that companies at risk could face a crisis.

Regional trends:

The North American market for ESG reporting software is expected to register a large market share in revenue. It is expected to grow at a high CAGR in the near future because the increasing product penetration in the region is expected. After all, environmental risks have been reduced by the widespread use of environmental, sustainability and governance (ESG) software. Regulatory bodies such as the Occupational Safety & Health Administration in the US have forced many companies, including materials, chemicals and energy and utilities, to use ESG reporting software. OSHA is an agency that promotes safety standards in the workplace. As a result, occupational hazards were reduced. Besides, Europe held a significant share in the market due to its developed economy and rapid expansion in light of the widespread use of environmental, sustainability and governance (ESG) tools to reduce environmental risks.

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ESG Reporting Software Market Segmentation-

After component-

By deployment type-

By organization size-

At vertical

  • Banking, financial services and insurance
  • IT and ITeS
  • The government and the public sector
  • Manufacturing
  • Retail and consumer goods
  • Healthcare and Life Sciences
  • Energy and utilities
  • Other verticals

By region-

North America

Europe

  • Germany
  • England
  • France
  • Italy
  • Spain
  • The rest of Europe

Asia-Pacific region

  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • The rest of Asia and the Pacific

Latin America

  • Brazil
  • Argentina
  • The rest of Latin America

Middle East & Africa

  • GCC countries
  • South Africa
  • The rest of Middle East and Africa

For more customization @ https://www.insightaceanalytic.com/customisation/2136

Why you should buy this report:

  • To receive a comprehensive analysis of the outlook for the global ESG Reporting Software market
  • To receive an industry overview and future trends of the global ESG Reporting Software market
  • To analyze ESG Reporting Software market drivers and challenges
  • To get information about ESG Reporting Software market size value (US$ Mn) forecast up to 2031
  • Major Investments, Mergers and Acquisitions in the Global ESG Reporting Software Industry

About us:

InsightAce Analytic is a market research and consulting firm that empowers clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to grow businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and customized market intelligence reports with in-depth analysis with key market insights in a timely and cost-effective manner.

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SOURCE InsightAce Analytic Pvt. Ltd

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