Hyderabad, July 07, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Environmental Health and Safety Software Market Report (2023-2028),” the market is estimated at USD 1.81 billion in 2023. It is expected to register a CAGR of 12.50% during the forecast period.
Nowadays, EHS solutions are a core part of every business organization. They help bring profitable growth, transformation in business continuity, corporate social responsibilities, and operational excellence concerning environmental interaction. The integrated ecosystem of government regulations, legal forces, economic conditions, and developing technologies has persuaded organizations to implement EHS solutions as a basic operational requirement. Also, organizations try to avoid any future operational expenses with environmental protection.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1.81 billion |
| Market Size (2028) | USD 3.26 billion |
| CAGR (2023-2028) | 12.50% |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The ability of the EHS system to assess risk, collect inspection results, and monitor performance quickly. |
| Increasing necessity for EHS software by companies to monitor the health and safety of workers. |
Who are the Top Companies in the Environmental Health and Safety Software Market?
The global EHS market is fragmented. There is intense rivalry among the competitors. With an increased focus on innovation, the demand for new technologies is expanding, consequently driving investments for further improvements.
The noteworthy players holding the EHS industry are:
- Enablon (Wolters Kluwer NV)
- Intelex Technologies ULC
- VelocityEHS Holdings Inc.
- Cority Software Inc.
- Sphera Solutions Inc.
- Sai Global Pty Limited (Intertek Group PLC)
- Dakota Software Corporation
- Benchmark Digital Partners LLC
- ProcessMAP Corporation
- Quintec GmbH
- IsoMetrix
- SAP SE
- iPoint-systems GmbH
- Evotix (SHE Software)
- DNV GL
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Key Highlights from the Environmental Health and Safety Software Market Report:
Increasing Data Management and Reporting Needs to Drive the Market
- EHS software offers robust analytics and reporting competencies. It has made it easier to collect and analyze data, generate accurate reports, and demonstrate compliance. Therefore, the necessity for effective data management and reporting is driving the adoption of EHS software.
- Employees, customers, investors, and communities are becoming interested in their respective organizations' environmental and social performance. Transparency, accountability, and measurable progress in EHS management are constantly being expected. The software helps organizations meet these expectations. It provides accurate data, robust reporting, and clear visibility into an organization’s EHS efforts.
North America Holds Significant Market Share
- The United States and Canada are crucial markets for EHS software. North America has strict environmental and occupational health and safety regulations. Industries, viz., manufacturing, energy, and healthcare, are early adopters of EHS software.
- North America has a rigid foothold of EHS software vendors. These vendors are positively contributing to the market's growth.
What are the Latest Developments in the Environmental Health and Safety Software Market?
- In August 2022, Partners Group announced owning a substantial minority share in VelocityEHS from CVC Growth Funds. With this deal, Partners Group would join CVC Growth on the company board.
- In April 2022, Quentic continued with strengthening its partnership with DENIOS in hazardous chemicals management and occupational safety sectors. Customers can take advantage of a thorough overview of their chemical operations with the solution supplied by Quentic and DENIOS.
Mordor Intelligence has Segmented the Environmental Health and Safety Software Market Based on Deployment Type, End-user Vertical, and Geography:
- By Deployment Type
- Cloud
- On-premise
- By End-user Vertical
- Oil and Gas
- Energy and Utilities
- Healthcare and Life Sciences
- Construction and Manufacturing
- Chemicals
- Mining and Metals
- Food and Beverages
- Other End-user Verticals
- By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Environmental Health and Safety Software Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
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