Cloud Segment is Expected to Dominate the Global Environmental Health & Safety Software Market through 2029
According to
TechSci Research report, “Global Environmental
Health & Safety Software Market - Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2029”. Global Environmental Health & Safety Software is anticipated to
project robust growth in the forecast period with a CAGR of 11.48% through 2029. Environmental health and safety (EHS)
software solutions play a crucial role in harmonizing various environmental
facets essential for businesses. These include ensuring regulatory compliance,
fostering corporate sustainability in environmental stewardship, preventing
accidents, conducting environmental audits and inspections, standardizing
processes, and responding promptly to incidents. EHS solutions have
become integral to modern business operations, driving transformation in
business continuity, sustainable growth, corporate social responsibility, and
operational excellence concerning environmental interactions. The convergence
of government regulations, legal mandates, economic factors, and technological
advancements has compelled organizations across industries to view EHS
solutions as fundamental operational necessities. Particularly, businesses aim
to preempt future operational costs associated with environmental protection
measures and mitigating risks linked to hazardous scenarios.
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Based on Deployment type, Cloud
segment is expected to hold the largest share of Environmental Health &
Safety Software market during the forecast period, Organizations are under growing pressure
to effectively gather, handle, and disclose EHS data to stakeholders,
regulatory bodies, and investors. EHS software offers comprehensive reporting
and analytics capabilities, streamlining the process of data collection,
analysis, and report generation, thereby ensuring compliance. The imperative
for efficient data management and reporting is a key driver behind the uptake
of EHS software.
Stakeholders, encompassing investors,
employees, customers, and communities, are increasingly focused on evaluating
organizations' environmental and social performance. They demand transparency,
accountability, and tangible progress in EHS management. EHS software enables
organizations to fulfill these expectations by furnishing precise data, robust
reporting, and transparent insights into their EHS initiatives. Effective data
management and reporting not only bolster an organization's reputation but also
fortify its risk management endeavors. By integrating EHS
software, organizations can showcase their dedication to environmental
sustainability, workplace safety, and regulatory adherence. Consequently, this
elevates their standing, diminishes operational risks, and bolsters stakeholder
trust.
Based on Region, North
America will dominate the market, North America, notably the United States
and Canada, stands as a significant market for EHS software, driven by robust
environmental and occupational health and safety regulations. Industries like
manufacturing, energy, and healthcare in this region have been early adopters
of EHS software to ensure compliance, safety, and risk management.
Furthermore, North America boasts a
strong presence of EHS software vendors, such as Intelex Technologies Inc.,
VelocityEHS, Sai Global Pty Limited, Dakota Software Corporation, and Gensuite,
which contribute significantly to market growth. Many of these vendors are
actively pursuing initiatives to achieve zero safety incidents and minimize
environmental impacts. For example, ProcessMAPCorporation, a leading provider
of data-intelligence-driven software solutions, recently announced a
collaboration with Fortune Brands Home & Security, Inc., a Fortune 500
company, to enhance its global EHS and ESG initiatives using ProcessMAP's
innovative data-intelligence solutions.
These vendors continually improve their
EHS software offerings to meet evolving market demands. VelocityEHS, renowned
for its cloud-based EHS and sustainability software, recently expanded its
capabilities by acquiring Kinetica Labs, a pioneer in sensing and simulation
technology for occupational safety and health based in Ann Arbor. In North America,
strict enforcement of industrial safety regulations by entities like the
Environmental Protection Agency (EPA) and the US Occupational Safety and Health
Administration (OSHA) further drives EHS software adoption. Given that almost
all businesses in the United States are subject to OSHA standards, compliance
remains a top priority for employers and employees across various industries.
Key market players in the Global
Environmental Health & Safety Software Market are following: -
- Wolters Kluwer N.V.
- Intelex Technologies, Inc.
- 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
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“The global Environmental Health & Safety (EHS) software market experiences significant momentum due to various pivotal factors. Strict adherence to regulatory standards, particularly concerning environmental and workplace safety, motivates organizations to embrace EHS software to ensure compliance and mitigate risks. There's a rising emphasis on corporate social responsibility and sustainability initiatives, fueling the demand for solutions capable of tracking and managing environmental impact effectively. Technological advancements, such as the integration of AI and IoT, bolster the capabilities of EHS software, facilitating real-time monitoring and predictive analytics. As globalization expands and supply chains become more intricate, standardized EHS practices play a crucial role, driving market expansion. The pursuit of cost-effectiveness and operational efficiency, alongside stakeholder expectations for ethical business conduct, further encourages the adoption of EHS software. Moreover, heightened public awareness regarding environmental issues and social responsibility amplifies the significance of EHS software in the global arena.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based global management consulting firm.
Environmental Health & Safety Software Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast Segmented by Deployment Mode (Cloud, On premises), End-user
Vertical (Oil and Gas, Energy and Utilities, Healthcare and Life Sciences, Construction
and Manufacturing Chemicals, Mining and Metals, Food
and Beverages, Other), By Region, By Competition 2018-2028 has evaluated
the future growth potential of Global Environmental Health & Safety
Software Market and provides statistics and information on market structure,
size, share, and future growth. The report is intended to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Environmental
Health & Safety Software Market.
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