Product Code: 66366
The environmental health and safety software market is expected to register a CAGR of 12.3% during the forecast period (2020 - 2025). EHS software is an automatic system. It aids various businesses in reducing the risks that come with their operations and lower some of the top pressures of complying with environmental, health, and safety regulations. EHS software encourages sustainability, boosts employee productivity, and ensures compliance with regulations. It is vital for any business to maintain a safe workplace and fully-compliant operations. This is the reason for governments to focus on enforcing various environmental, health, and safety standards that companies must follow to reassure the wellbeing of their workers and customers.
- Affordable solutions, which may be easier for small- and medium-sized enterprises (SMEs) to adopt, are being introduced by government bodies. This could also help the EHS market increase its demand in the coming years. Also, there is a need to fulfill several legal requirements and statutes to comply with EHS standards in different parts of the world. Corporates have been lavishly investing in a range of software platforms, thus expecting to contribute to the high growth of EHS tools.
- The drivers responsible for the growth of the market include stringent regulations in emerging markets, such as China. Increased corporate spending and various acquisitions also open up access to operational risk budgets, further leading to the growth of the market.
- The factors hindering the market growth include competitive pressure from safety IIoT platform providers, pricing pressure, and the ongoing shift from on-premise to the cheaper upfront cost of cloud-based subscriptions. Extensive adoption of EHS in North America, across other industries, such as oil and gas, and construction, could help the market grow shortly.
- There is limited adoption of EHS tools by low-income businesses, and the expensive cost of the installation of environmental compliance software is expected to hinder the market growth.
Scope of the Report
Environmental health and safety software comprises a database, driven by enterprise software application that covers data from different broad fields of environment and waste management, occupational health and medical safety, and industrial hygiene. EHS software provides a platform for various businesses to protect the health and safety of their employees from potential hazards in the workplace. It also helps organizations to comply with current health and safety rules and regulations.
Key Market Trends
Chemicals Segment to Hold Significant Market Share
- As the operations in the chemical industry require the use of different materials and substances, the slightest handing errors can lead to costly and life-threatening consequences. Therefore, EHS solutions are basically adopted in the sector to monitor the storage and use of dangerous chemicals, to help companies meet obligations, and to avoid violation of safety regulations.
- In April 2019, US-based VelocityEHS acquired ChemTel Inc., a hazardous chemical transportation safety and compliance service provider. The acquisition helped the company in strengthening its chemical and Safety Data Sheet (SDS) management platform by incorporating ChemTel's emergency response operations center and hazardous materials transportation consulting services.
- To achieve its goal of "Zero accidents and zero environmental incidents," Germany-based INEOS Koln adopted EHS software from Quentic. Since 2014, the company has been using the software to record and analyze unsafe situations and incidents that could potentially endanger the environment. As a member of the German Chemical Industry Association(VCI), the software also helped the company in compliance with the VCI environmental guidelines and joined the "Responsible Care" Initiative.
- Furthermore, Dow Chemical has also announced the investment of USD 4 billion over the next five years (2018-2023) to expand its US petrochemicals manufacturing business, as part of the company's next phase of large investments. Such investments are expected to bring further development into the market.
Asia-Pacific Expected to Witness Significant Growth
- The environmental health and safety software market is expected to register significant growth in the Asia-Pacific region. Factors resulting in the growth of this region are massive investments made in the research and development of environmental health and safety solutions and services, provided by the various governments in Asia.
- EHS awareness, regulation, and enforcement activities are increasing throughout the region. Asia-Pacific countries, such as China, Japan, Taiwan, and South Korea, are implementing a growing number of regulations to protect their environment and the health of their citizens from potentially hazardous chemical substances.
- China is one of the largest producers of several chemicals and has immense scope for the implementation of EHS tools across companies involved in the production of several high-risk substances.
- For instance, China's environment and health initiative program by the SSRC (Social Science Research Council) encourages new research on the connection between environment, health, and development in the country. Similarly, Australia, India, and Japan are also undertaking various initiatives to implement multiple environmental health and safety solutions.
- The EHS market holds immense growth in the Asia-Pacific region, due to the established chemical industry and the growing construction, and energy and mining sectors. The rate of implementation is presently low in the region due to high costs and is expected to increase in the future years, owing to the initiation of stringent EHS regulations in countries, such as India, China, and Japan.
The environmental health and safety software market is neither fragmented nor consolidated. Companies are investing in the research and development of the EHS market, due to the increasing competition. Few major players are Enablon, Cority Software Inc. and VelocityEHS amongst others. Some recent developments are:
- August 2019 - Cority announced an expanded strategic partnership with Enhesa, the leading EHS regulatory content provider, to provide the most comprehensive global compliance management solution in the market. Building upon the long-term partnership between Cority and Enhesa, the expanded relationship demonstrates a stronger commitment on a global scale and further deepens Cority's compliance management offering.
- April 2019 - Gensuite, made its partnership with Adopt A Class, a program that connects business and civic groups, as mentors with students in schools with high percentages of poverty. with a vision of a Greater Cincinnati where all students have access to caring adults who expose them to a breadth of life and career experiences, so they can unleash their full potential.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Market Definition
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 Industry Attractiveness - Porter's Five Force Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers/Consumers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitute Products
- 4.2.5 Intensity of Competitive Rivalry
5 MARKET DYNAMICS
- 5.1 Market Drivers
- 5.1.1 Stringent Government Regulations has Spurred Adoption in Several Countries
- 5.1.2 Technological Advancements Such As Predictive Analytics And IoT
- 5.1.3 Increased Awareness On EHS Due To The Rising Incidence Of Accidents
- 5.2 Market Challenges
- 5.2.1 Implementation And Budgetary Concerns
6. Qualitative Analysis of EHS Solutions
- 6.1 Incident Management
- 6.2 Audit and Inspection
- 6.3 Compliance Management
- 6.4 Other EHS Solutions
7. MARKET SEGMENTATION
- 7.1 By Deployment Mode
- 7.1.1 Cloud
- 7.1.2 On-Premise
- 7.2 By End-user Industry
- 7.2.1 Oil and Gas
- 7.2.2 Energy and Utilities
- 7.2.3 Healthcare and Life Science
- 7.2.4 Manufacturing and Process Industry
- 7.2.5 Chemicals
- 7.2.6 Food and Beverage
- 7.2.7 Other End-user Industries
- 7.3 Geography
- 7.3.1 North America
- 7.3.2 Europe
- 7.3.3 Asia-Pacific
- 7.3.4 Rest of the World
8. COMPETITIVE LANDSCAPE
- 8.1 Company Profiles
- 8.1.1 Enablon
- 8.1.2 Intelex Technologies
- 8.1.3 VelocityEHS
- 8.1.4 Cority Software Inc.
- 8.1.5 SAI Global Ltd
- 8.1.6 Dakota Software Inc.
- 8.1.7 Gensuite LLC
- 8.1.8 ProcessMAP
- 8.1.9 Quintec GmbH
- 8.1.10 Isometrix Software
- 8.1.11 SAP SE
List Not Exhaustive
9 INVESTMENT ANALYSIS
10 MARKET OPPORTUNITIES AND FUTURE TRENDS