North America Cloud Carbon Management System Market Size - By Component (Solutions, Services), By Industry (Energy & Utilities, Manufacturing, Residential & Commercial Building, Transportation & Logistics, IT & Telecom, Others) & Forecast, 2023 - 2032

North America Cloud Carbon Management System Market Size

North America Cloud Carbon Management System Market size was valued at USD 2.4 billion in 2023 and is set to grow at a CAGR of 10.4% between 2024 and 2032, fueled by rising environmental concerns and increased awareness of carbon footprint management. Leveraging cloud computing technologies, these systems monitor, analyze, and manage carbon emissions across various business operations. In addition, carbon management services have evolved to keep pace with shifting carbon regulations and policies. Service providers assist organizations in navigating complex regulatory landscapes and ensuring compliance with new requirements.
 

Rising importance of sustainability along with increasing growth and innovation, supporting global efforts to contend the changes in climate conditions through cloud-based platforms is fueling the market growth. For instance, as per the U.S. government, there is a significant investment opportunity in carbon mitigation projects, estimated to reach up to USD 100 billion by 2030 and USD 600 billion by 2050. The market includes a wide range of offerings, such as carbon accounting software, emissions tracking platforms, consultancy services, carbon offset programs, and carbon trading platforms.
 

North America Cloud Carbon Management System Market Trends

The North American cloud carbon management system industry is witnessing significant growth due to increasing regulatory pressure, corporate sustainability initiatives, and the rising demand for carbon accounting and management solutions. Governments in North America, particularly in the U.S. and Canada, are implementing stringent regulations regarding carbon emissions. Companies are compelled to adopt carbon management systems to comply with these regulations.
 

In addition, the introduction of carbon pricing mechanisms and the push for net-zero emissions by 2050 along with continuous growth in complementary technologies like IoT and blockchain will further enhance the capabilities of carbon management systems. Furthermore, these cloud carbon management systems play a crucial role in supporting compliance with environmental regulations and standards. With increasingly stringent emission norms, cloud carbon management systems provide the necessary tools for energy and utility companies to track, report, and ensure adherence to regulatory requirements.
 

North America Cloud Carbon Management System Market Analysis

Based on component, the market is divided into services & solutions. Solutions carbon management system industry will exceed over USD 1.1 billion by 2032. Carbon management systems and services are becoming more tailored to specific industries, such as energy, manufacturing, and transportation to effectively address the challenges each sector faces. Additionally, as sensitive emissions and energy data become more prevalent, there is an increasing focus on enhancing data security and privacy measures within the carbon management systems and services offered across the industry landscape.
 

Based on industry, the North America cloud carbon management system market is categorized into as energy & utilities, residential & commercial building, manufacturing, logistics, IT & telecom, & transportation. Energy & utilities industry will expand at a CAGR of over 11% through 2032. Growing concerns about optimizing energy generation processes are further propelling industry growth. Cloud-based solutions enable real-time monitoring of carbon emissions associated with power generation, allowing for adjustments that minimize environmental impact while maintaining operational efficiency.
 

The U.S. cloud carbon management system market is projected to exceed USD 4.4 billion by 2032, driven by increased focus on carbon reduction policies and regulations at federal, state, and local levels. In this context, carbon management systems have become essential tools for compliance and precise tracking of emissions data.
 

For instance, in August 2023, Hitachi Energy and Google entered a strategic partnership to co-create cloud software products and services that support the global energy transition. Additionally, the growing shift towards renewable energy sources, such as wind and solar power, is enabling organizations to assess the impact of integrating renewable energy on their emissions profiles.
 

North America Cloud Carbon Management System Company Market Share

Companies including Engie, IBM, Hitachi Energy, SAP, & Schneider Electric are few of the major market players in the industry. These companies are leading the charge in providing innovative cloud-based carbon management solutions, helping businesses across North America to monitor, manage, and reduce their carbon emissions effectively.
 

North America Cloud Carbon Management System Market Companies

Key market players in the North America cloud carbon management system industry are:

• Dakota Software
• EnergyCap.
• Engie
• Enviance
• ESP
• Hitachi Energy
• IBM
• Intelex
• Isometrix
• Locus Technologies
• Microsoft
• NativeEnergy
• Salesforce
• SAP
• Schneider Electric
   

North America Cloud Carbon Management System Industry News

• In March 2024, Google decided to invest USD 35 million into carbon capture projects in an effort for the removal of carbon thereby adding to the cloud carbon management.  
   
• In May 2023, the U.S. government announced an investment of USD 251 million in carbon capture and storage projects across seven states. This initiative aims to significantly reduce planet-warming pollution from power plants and various industrial facilities. This substantial investment represents a strategic effort to accelerate the commercial launch of the carbon management industry within the country.
   

The North America cloud carbon management system market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘USD Billion’ from 2021 to 2032, for the following segments:

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Market, By Component

• Solution
• Services

Market, By Industry

• Energy & Utilities
• Manufacturing
• Residential & Commercial Building
• Transportation & Logistics
• IT & Telecom
• Others

The above information has been provided for the following countries across the region.

• U.S.
• Canada
• Mexico