The impact of Environmental, Social and Corporate Governance (ESG) measures in business should not be understated, especially as more businesses adopt them, driving the creation of reporting software. According to a new report from MarketsandMarkets, the Global ESG Reporting Software Market is expected to grow to upwards of $1.5 billion by 2027, at an impressive compound annual growth rate (CAGR) of 15.9%. Significant driving factors include the widespread adoption of cloud-based solutions, governmental investing and more.
Sustainability is important to every industry, and ESG initiatives allow companies to play their part in corporate operations. The ESG Services segment is estimated to make up a higher CAGR, with integration and implementation, training and support and consulting leading the way. ESG Manufacturing is also expected to grow as environmental concerns reach an all-time high, and as companies adapt in the wake of the Covid-19 pandemic.
The Global ESG Reporting Software Market is geographically segmented into five regions: North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Notable ESG reporting -software enterprises featured in the report include US-based Nasdaq, Isometrix and Workiva, as well as European companies Refinitiv and Anthesis and many more.