The Market for ESG Software Project to Hit $2.5B V
Post# of 64
(Total Views: 157)
Posted On: 08/09/2024 4:54:20 PM
The Market for ESG Software Project to Hit $2.5B Valuation by 2028
Environmental, social and governance (ESG) reporting software contains different solutions and modules focused on regulatory, risk management, safety, health and compliance. This software is used to manage a company’s ESG data in one system that is available in a format where the data is finance grade and auditable.
The market for this software has experienced strong growth in the last couple of years, growing to $1.19 billion this year from $0.98 billion last year. The growth during this period can be attributed to risk mitigation, stakeholder pressure, economic incentives, corporate social responsibility and voluntary reporting initiatives.
Forecasts from a new report show that the market will grow at a 21% compound annual growth rate to hit $2.5 billion by 2028. The growth during this projection period can be attributed to ESG integration in financial markets, activist and NGO influence, compulsory ESG disclosure, framework adoption for climate disclosure standards board, and transparency in the supply chains.
Last year, North America was the biggest regional player in this market. During the timeframe of the forecast, the Asia-Pacific region is expected to grow the fastest. Other regions in the market include Africa, the Middle East, South and North America, and Europe.
It is expected that the growing demand for ESG data by investors will drive the growth of the ESG reporting software from here on out. ESG data mainly encompasses policies and frameworks providing information about a company’s business practices and its performance on key ethical and sustainability issues. ESG reporting software alerts investors automatically about the reports and data required, enabling them to better evaluate a company.
Key players in the ESG reporting software market include Sustainalytics, Anthesis Group, Diligent Corp., Workiva Inc., MSCI Inc, Nasdaq Inc, Wolters Kluwer N.V. and Refinitiv LLC.
Major companies operating in this market are developing new products, including a Software-as-a-Service (SaaS) platform powered by artificial intelligence, which would afford users a competitive edge in the market. The platform is a cloud-based software solution that uses artificial intelligence (AI) tech to automate and enhance a range of functionalities in the platform.
The market is divided into a few segments, including by organization size, deployment type, vertical and component. On size of organization, we have large as well as small and medium enterprises. On deployment type, we have cloud and on-premises, while on component, we have services and solutions. By vertical, various verticals are considered, including financial services, energy and utilities, information technology (IT), retail and consumer goods, among others.
ESG software can ultimately be a good investment for entities that acquire some of the latest resource-generation systems from many businesses such as Energy and Water Development Corp. (OTCQB: EAWD) designed to adhere to environmental, ethical and governance considerations. By documenting how these systems improve access to these resources in remote or hard-to-reach regions, their impact on reducing the carbon footprint of companies can be tracked alongside other ESG metrics.
NOTE TO INVESTORS: The latest news and updates relating to Energy and Water Development Corp. (OTCQB: EAWD) are available in the company’s newsroom at https://ibn.fm/EAWD
Please see full terms of use and disclaimers on the ESGWireNews website applicable to all content provided by ESG, wherever published or re-published: https://www.ESGWireNews.com/Disclaimer
Environmental, social and governance (ESG) reporting software contains different solutions and modules focused on regulatory, risk management, safety, health and compliance. This software is used to manage a company’s ESG data in one system that is available in a format where the data is finance grade and auditable.
The market for this software has experienced strong growth in the last couple of years, growing to $1.19 billion this year from $0.98 billion last year. The growth during this period can be attributed to risk mitigation, stakeholder pressure, economic incentives, corporate social responsibility and voluntary reporting initiatives.
Forecasts from a new report show that the market will grow at a 21% compound annual growth rate to hit $2.5 billion by 2028. The growth during this projection period can be attributed to ESG integration in financial markets, activist and NGO influence, compulsory ESG disclosure, framework adoption for climate disclosure standards board, and transparency in the supply chains.
Last year, North America was the biggest regional player in this market. During the timeframe of the forecast, the Asia-Pacific region is expected to grow the fastest. Other regions in the market include Africa, the Middle East, South and North America, and Europe.
It is expected that the growing demand for ESG data by investors will drive the growth of the ESG reporting software from here on out. ESG data mainly encompasses policies and frameworks providing information about a company’s business practices and its performance on key ethical and sustainability issues. ESG reporting software alerts investors automatically about the reports and data required, enabling them to better evaluate a company.
Key players in the ESG reporting software market include Sustainalytics, Anthesis Group, Diligent Corp., Workiva Inc., MSCI Inc, Nasdaq Inc, Wolters Kluwer N.V. and Refinitiv LLC.
Major companies operating in this market are developing new products, including a Software-as-a-Service (SaaS) platform powered by artificial intelligence, which would afford users a competitive edge in the market. The platform is a cloud-based software solution that uses artificial intelligence (AI) tech to automate and enhance a range of functionalities in the platform.
The market is divided into a few segments, including by organization size, deployment type, vertical and component. On size of organization, we have large as well as small and medium enterprises. On deployment type, we have cloud and on-premises, while on component, we have services and solutions. By vertical, various verticals are considered, including financial services, energy and utilities, information technology (IT), retail and consumer goods, among others.
ESG software can ultimately be a good investment for entities that acquire some of the latest resource-generation systems from many businesses such as Energy and Water Development Corp. (OTCQB: EAWD) designed to adhere to environmental, ethical and governance considerations. By documenting how these systems improve access to these resources in remote or hard-to-reach regions, their impact on reducing the carbon footprint of companies can be tracked alongside other ESG metrics.
NOTE TO INVESTORS: The latest news and updates relating to Energy and Water Development Corp. (OTCQB: EAWD) are available in the company’s newsroom at https://ibn.fm/EAWD
Please see full terms of use and disclaimers on the ESGWireNews website applicable to all content provided by ESG, wherever published or re-published: https://www.ESGWireNews.com/Disclaimer
(0)
(0)