According to a research report “ESG Reporting Software Market by Offering (Software and Services), Deployment Type (On-premises and Cloud), Organization Size (Large Enterprises and SMEs), Vertical (BFSI and Government, Public Sector, and Non-profit), & Region – Global Forecast to 2029″ published by MarketsandMarkets, the ESG reporting software market is expected to grow from USD 0.9 billion in 2024 to USD 2.1 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 17.0% during the forecast period.
ESG reporting software provides comprehensive tools for tracking, managing, and reporting on environmental, social, and governance metrics. The software integrates various data sources and technologies to ensure accurate and insightful reporting, including real-time data feeds, IoT sensors, sustainability frameworks, regulatory guidelines, and stakeholder inputs. These solutions enable companies to monitor their ESG performance, identify areas for improvement, and demonstrate their commitment to sustainability and ethical practices to investors, regulators, and the public.
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By organization size, the large enterprise segment will hold the largest market size during the forecast period.
Organizations with more than 1,000 employees are categorized under the large enterprises segment. In large enterprises, ESG reporting software is a critical tool for managing and reporting sustainability issues in an orderly manner. These software programs provide large companies with comprehensive solutions for collecting, analyzing, and reporting huge volumes of ESG-related data from multiple sources. Through automatic data collection processes and offering advanced analytics tools, ESG reporting software assists large companies in tackling environmental damage, social activities, and good governance in real-time.
Also, the software provides ESG reporting capability for large enterprises to increase transparency and accountability to stakeholders, including investors, customers, and regulatory bodies, by providing them with detailed and accurate reports on their sustainability performance. By adopting sustainable practices, large-scale companies can enhance their reputation, minimize risks, and reinforce their competitive edge. The ESG reporting software is a precious tool for large companies as it helps them determine areas where they should improve, set relevant sustainability goals, and measure progress over time, which drives continuous improvement in their sustainability initiatives.
By Region, the Asia Pacific will grow at the highest growth rates during the forecast period.
The availability of software for ESG reporting has turned out to be a critical factor that strengthens the Asia Pacific companies’ efforts to keep an eye on and handle their sustainability programs and performance. Particularly facing the rise in the importance of corporate social responsibility and sustainable business approaches, such software is now in ever more demand. These software solutions assist companies in data collection, analysis, and reporting of their operations’ environmental and social impact; they also help meet regulatory expectations and fulfill stakeholder needs.
The Asia Pacific region ESG reporting software market, as well as industries, is different in each of the vertical markers. In sectors such as banking, manufacturing, and energy, many corporations implement ESG reporting systems pushed by regulators and investors, and there is a need for better business reputations. The tech and telecom sector is giving a nod to the fact that ESG reporting is becoming more obligatory for companies that appreciate sustainability and want to attract more socially responsive investors. Similarly, ESG-related programs in industries such as healthcare and consumer goods are witnessing a growing adoption of ESG reporting software as companies try to improve their sustainability practices and address consumers’ and investors’ expectations. Hence, Asia Pacific’s ESG reporting software market is a growing industry spanning different sectors. However, the reasons for this growth are the undeniable importance of sustainability and corporate responsibility in business.
Key Players
Some of the key players operating in the ESG reporting software market are – Wolters Kluwer (Netherlands), Nasdaq(US), PWC(UK), Workiva(US), LSEG(UK), Greenstone(UK), Diligent(US), Sphera(US), Cority(Canada), and Intelex(Canada).
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