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The Rise of ESG Reporting Software Market: A $2.1 billion Industry Dominated by Wolters Kluwer (Netherlands), LSEG(UK) | MarketsandMarkets™

Chicago, June 19, 2024 (GLOBE NEWSWIRE) -- 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. according to a new report by MarketsandMarkets™. The demand for ESG reporting software is increasing globally due to higher demand for corporate transparency, regulatory compliance, and sustainable business practices. Browse in-depth TOC on "ESG Reporting Software Market" 221 - Tables 50 - Figures 258 - Pages Download Report Brochure @ ESG Reporting Software Market Dynamics: DRIVERS Consistent growth in corporate data volume Proliferation in growth of credible corporate disclosures Emphasis on automated data collection, reporting, and reduced manual efforts Growing demand for navigating and mitigating ESG risks RESTRAINTS Huge initial capital expenditure Regulatory uncertainty hindering adoption and expansion of ESG reporting software OPPORTUNITIES Climate testing to gain traction among financial service organizations Assessment of natural capital and biodiversity risks to grow significantly Enhancing sustainability through integration with enterprise systems List of Key Players in ESG Reporting Software Market: Wolters Kluwer (Netherlands) Nasdaq (US) PWC (UK) Workiva (US) LSEG (UK) Greenstone (UK) Diligent (US) Sphera (US) Cority (Canada) Intelex (Canada) Request Sample Pages: These players have adopted many growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, collaborations, mergers, acquisitions, and new product development activities to expand market presence. Based on the offerings, the software segment will gain the highest market share during the forecast period. Software is critical in ESG reporting that helps organizations properly collect, manage, analyze, and report sustainability data. Initially, ESG reporting software simplifies the process of data collection by enabling companies to get information from different sources, such as internal data systems, third-party providers, and manual inputs. This software usually has data validation and normalization features, so the data collected is accurate and consistent. Moreover, ESG reporting software helps organizations simplify their reporting process by doing tasks like data aggregation, calculation of KPIs, and generating reports automatically. By eliminating manual work and diminishing the chances of human mistakes, this software allows companies to generate ESG reports faster and more quickly. Besides, ESG reporting software supports ...