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ESG Software Market Size

Report ID: GMI11847
Published Date: Oct 2024
Report Format: PDF

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ESG Software Market Size

The global ESG software market was valued at USD 838.6 million in 2023 and is estimated to register a CAGR of 14.3% between 2024 and 2032. The increasing focus on sustainability, regulatory compliance, and stakeholder pressure are key factors driving the demand for ESG software solutions. Companies across various industries are increasingly investing in ESG software to manage their environmental impact, social responsibilities, and governance practices more effectively.

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The market is witnessing significant growth due to the rising awareness of climate change, social issues, and corporate governance among investors, consumers, and regulators. For instance, in September 2024, SAP and Thomson Reuters announced a product integration, combining Thomson Reuters' OneSource Statutory Reporting with SAP's Sustainability Control Tower to offer enterprises a unified ESG reporting solution. This integration highlights the growing demand for comprehensive ESG reporting tools that can handle complex regulatory requirements and stakeholder expectations.

ESG Software Market Report Attributes
Report Attribute	Details
Base Year:	2023
ESG Software Market Size in 2023:	USD 838.6 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	14.3%
2032 Value Projection:	USD 2.7 Billion
Historical Data for:	2021 - 2023
No. of Pages:	185
Tables, Charts & Figures:	200
Segments covered:	Offering, Deployment Model, Organization Size, Application, End Use
Growth Drivers:	Increasing regulatory pressure for ESG disclosure Growing investor focus on sustainable investments Rising corporate awareness of ESG risks Advancements in AI and data analytics for ESG assessment
Pitfalls & Challenges:	Complexity in standardizing ESG data across industries High implementation and maintenance costs

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Additionally, the increasing focus on green technology and sustainability is significantly driving the ESG software market. As organizations strive to minimize their environmental impact and align with global sustainability goals, the demand for robust ESG solutions is surging. The green technology and sustainability market is projected to grow from USD 14.3 billion in 2022 to over USD 80 billion by 2032, with an annual growth rate of more than 19%. This growth highlights a rising recognition of the need for sustainable practices across industries. Companies are increasingly adopting ESG software to not only comply with regulatory requirements but also to enhance their sustainability profiles.

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The global ESG software industry was valued at USD 838.6 million in 2023 and is estimated to grow at a 14.3% CAGR from 2024 to 2032, driven by an increasing focus on sustainability, regulatory compliance, and stakeholder pressure.

The environmental management software segment was valued at over USD 300 million in 2023, fueled by the growing emphasis on climate change mitigation, carbon footprint reduction, and environmental compliance.

North America dominated the global ESG software industry with a major share of over 35% in 2023, driven by increasing corporate sustainability commitments and a surge in sustainable investing.

Key players in the ESG software industry include Cority, Diligent, Goby, Intelex, Measurabl, Perillon Software, SAP SE, Sphera, Sustainalytics, and Workiva.