ESG Software Market to Surpass 2.28 Billion by 2030 Drives Due to the Growing Demand for Ethical and Sustainable Investments
SkyQuest projects that the ESG software market will attain a USD 2.28 billion value by 2030, with a CAGR of 15.9% over the forecast period (2023-2030). The growing demand for ethical and sustainable investments is a crucial driver fueling the expansion of the ESG software market. Investors are increasingly interested in engaging with companies prioritizing sustainable and responsible practices with a rising focus on environmental, social, and governance factors.
Westford, USA, June 29, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, ESG software market has experienced rapid growth as businesses recognize the importance of sustainability and ethical business practices. This has led to the emergence of numerous companies offering ESG software solutions, resulting in a highly competitive industry. These software solutions provide organizations with the tools and capabilities to measure, track, and report on their ESG performance, helping them make informed decisions and demonstrate their commitment to sustainability.
Browse in-depth TOC on the “ESG Software Market”
- Pages – 233
- Tables – 145
- Figures –78
ESG (Environmental, Social, and Governance) investment has experienced significant growth in recent years as organizations, institutions, and stakeholders recognize the urgent need to address pressing issues such as discrimination, environmental degradation, climate change, and social inequality. This growing awareness of sustainability and responsible business practices has fueled the demand for ESG investment solutions.
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Prominent Players in ESG Software Market
- Sustainalytics
- Refinitiv
- MSCI Inc.
- Moody’s Corporation
- Bloomberg L.P.
- ISS ESG
- RobecoSAM
- Arabesque AI Ltd.
- Truvalue Labs Inc.
- RepRisk AG
- Enablon (Wolters Kluwer)
- FactSet Research Systems Inc.
- CSRHub LLC
- Goby Inc.
- EcoVadis
- Vigeo Eiris
- Measurabl Inc.
- ERM Group Inc.
- Verisk Maplecroft
- Datamaran
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BFSI Segment is Expected to Grow the Market Due to the Stringent Laws and Regulations
The BFSI segment emerged as the dominant player in the market for ESG software. This dominance can be attributed to the stringent laws and regulations governing reporting and transparency in the ESG activities of the BFSI sector.
The market in North America is poised to dominate the global ESG software market. This can be attributed to several key factors. Firstly, the region boasts prominent players in the ESG software market, including established companies and innovative startups. These players contribute to the competitive landscape and drive advancements in technology and solutions.
Cloud-Based Deployment Segment is Expected to Dominate the Market Due to its Flexibility
The cloud-based deployment segment is projected to experience the highest growth in the market for ESG software. This deployment model involves installing ESG software on a remote server and accessing it online. Organizations increasingly opt for cloud-based deployment due to its numerous benefits, including flexibility, scalability, and cost-effectiveness.
Regional markets in the Asia Pacific are expected to witness the highest CAGR in the market for ESG software. This growth can be attributed to several factors. Firstly, there has been a significant increase in the incidence of breast cancer in the region, which has led to a greater demand for advanced diagnostic methods and solutions.
A comprehensive analysis of the major players in the ESG software market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the ESG Software Market
- In February 2023, Intercontinental Exchange, Inc. expanded its ESG Company Data to include the Asia-Pacific region. This addition allows the company to provide information on 16,000 businesses from 105 countries. The expanded coverage includes over 1.4 million corporate equities and fixed-income securities, providing high-quality and detailed data associated with them. This expansion aims to enhance the availability of comprehensive ESG data for investors and businesses operating in the Asia-Pacific region.
- In December 2022, Morningstar Sustainalytics, a prominent global provider of ESG research, ratings, and data, announced an expansion of its ESG Risk Ratings coverage. The company has extended its coverage to enable substantial ESG risk assessment across various asset classes and regions. The expanded range includes more than 16,300 analyst-based ESG Risk Ratings for public stock, fixed-income, and privately held companies. This represents a significant increase of nearly 30% in comprehensive issuer ratings.
Key Questions Answered in ESG Software Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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