Global EHS Software Market is valued at USD 1331.59 Million in 2020 and is expected to reach USD 1956.83 Million by 2025 with the CAGR of 8 % over the forecast period.
SCOPE OF THE REPORT
Environmental, health, and safety (EHS) is a Software base technology which used in companies to manage all their regulatory compliance, enterprise risk, and corporate sustainability data and activities.
EHS software system also helps company to save time, reduce risk, and prevent unwanted events. It is an efficient way to connect employees across organization/Firms from factory supervisors to C-level executives and organize their documents, activities, and metrics into one centralized system.
EHS software collects all data, tasks, documents, and permits in a centralized database. EHS software may also pull in information from other database systems, such as CEMs, financial, or production data.
It operated by using mobile devices also to capture critical information at the source. The Environmental, health, and safety (EHS) software organizes all this information into powerful dashboards to give complete picture of company's performance in real time and share it with need-to-know employees.
EHS software has collecting and managing data. Software can automate administrative tasks like providing alerts and notifications, following up on assigned tasks, triggering corrective or preventive actions, and generating reports.
This report analyses the global market for EHS Software. The report will enable the user to understand and gain insights into the current and forecast market situation. The market is comprehensively analyzed by geography to give complete information on the global scenario. The qualitative and quantitative data provided in this study can help user understand which market segments, regions are expected to grow at higher rates, factors affecting the market and key opportunity areas. The report also includes competitive landscape of key players in the industry along with emerging trends in the market.
Above mentioned companies were scrutinized to assess competitive landscape of global EHS Software market. The major players such as Intelex, Wolters Kluwer, VelocityEHS, Cority, Gensuite held respective 6.41%, 5.54%, 4.86%, 4.54% and 3.81% shares in the year 2019. Report provides company profiles of each player. Each profile include company product portfolio, business overview, company governance, company financials, business strategies, manufacturing locations and production facilities, company sale, recent developments and strategic collaborations & partnerships, new product launch, company segments, application diversification and company strength and weakness analysis.
REVIEW PERIOD: (2015-2027)
•Historic Period: 2015 to 2020
•Forecast Period: 2021 to 2027
•Base Year: 2020
•Unit: USD Million
This EHS Software market report provides insights on new trade regulations, market size, regional and segment market share, product/service launches, product pipeline analysis, impact of Covid-19 on, key regions, untapped markets, patent analysis, approvals, continuous innovations and developments in the market.
Maintaining safe and healthy working conditions are required by government regulations and also make sense for business economic reasons
The market is still untapped in countries such as India, China and Latin American and this will provide growth over the next five years.
The field is also maturing in terms of how software is being used. While traditionally it has been a tool for compliance, now it’s become more a business driver. And that’s due to the new role that innovation in EHS has been taking.
The investment in the industry by private equity firms due to a renewed focus on innovation within the EHS function. Over the past few years, more than a billion dollars have been invested in the EHS industry through mergers and acquisitions. The increasing competition in this industry has attracted equity investors for the research and development opportunities.
Software Structural Evolution
As innovation has increased, costs have decreased. Data coming from sensors located on wearable technology can be integrated into one platform. And using Software as a Service (Sass), the start-up costs are less enabling small and medium-sized companies to use these technologies without having to invest in expensive on-premise infrastructures.
Now EHS software vendor extensively rolling out cloud-hosted EHS platforms to gain more competitive edge, offering client with easy service access to data wherever they want. On down side it makes companies sensitive information more vulnerable to threats. Threat to security breaches limits its adoption to certain group of clientele.
Complications in User Adoption
EHS platform requires a certain level of technical know-how, just like other industrial software solutions. Before getting fully adopt to the service, employees needs to be train. It upturns the dependency on the software service provider to offer technical support.
Limited Compliance Management
For large industries it requires extensive coverage of compliances to perform daily activities. Unfortunately, not all EHS systems can support a wide range of compliance regulations. Limited compliance management leads to increased dependency on multiple platforms.
•North America: U.S., Canada and Rest of North America
•Europe: UK, France, Germany, Italy, Spain and Rest of Europe
•Asia Pacific: China, Japan, India, Australia, Southeast Asia and Rest of Asia Pacific
•Latin America: Brazil, Mexico, Argentina and Rest of Latin America
•Middle East and Africa: Gulf Countries, Israel, Africa and Rest of Middle East and Africa
RECENT NEWS IN THE GLOBAL EHS SOFTWARE MARKET
IsoMetrix New Product Launch
IsoMetrix, an integrated risk and compliance management software specialist, has recently announced upcoming product enhancements being released on their web and mobile platforms.
Lloyd's Register wins design contract at Hywind Tampen
Lloyd’s Register, a specialist energy consultancy and technical services provider, have been award a contract for Human-Machine Interface (HMI) services to support Hywind Tampen, the world’s first floating wind farm to power offshore oil and gas platforms
Golder to provide technical support in Albania
Golder, an environmental services firm, has recently announced it will provide technical services to support the development of a 140MW solar power plant in Albania led by the Ministry of Industry and Energy.
OSHA fined Duke Energy Florida LLC
OSHA fined Duke Energy Florida LLC, a North Carolina-based electric power distributor, $53,976 in penalties for exposing employees to excavation hazards at a Florida worksite. OSHA was notified of an employee hospitalized after a trench wall collapsed on
Viking Line complete a hospital-grade infection risk management readiness assessment with My Care
DNV GL, an accredited registrar and classification society, announced that the Finnish cruise and ferry company Viking Line is the first maritime business to complete a hospital-grade infection risk management readiness assessment with My Care.
OSHA fined Bravo Pak
OSHA fined Bravo Pak, a New Jersey manufacturer, $259,760 in penalties for failing to abate machine hazards. Bravo Pak failed to develop and implement a lockout/tagout program to address unexpected start-up and machine guarding which resulted in injury.
Dakota Software Appoints Joyce Higgins Vice President of Product Strategy
Dakota Software, a leading provider of Environmental, Health and Safety (EHS) management software, is pleased to announce that Joyce Higgins has joined the company as Vice President of Product Strategy. Ms. Higgins brings more than 20 years of product management experience leading the planning and execution of technology solutions for companies in highly-regulated industries.
oSmall and Medium-sized Enterprises (SMEs)
By region, the Global EHS Software Market in terms of revenue is dominated by North America with the highest market share of 32.60% in 2019 and projected to reach at revenue of USD 651.04 Million in 2025 at CAGR of 8.37% in the forecast period 2020-2025.
Based on Type of software’s Global EHS Software Market is divided into cloud-based and on-premises. The Cloud based segment dominated the type segment and was worth of USD 1017.35 million in the year 2019 and is forecasted to reach a value of USD 1604.46 million in the year 2025.
Application segment include large enterprises and small and medium-sized enterprises (SMEs). The Large Enterprises segment dominated the application segment and was worth of USD 836.91 million in the year 2019 and is forecasted to reach a value of USD 1323.80 million in the year 2025.
COVID-19 IMPACT ON GLOBAL EHS SOFTWARE MARKET
Intensifying incidences of pandemics like COVID-19 drives the need of increased measures to secure health of the working populations. These concerns drive the demand along with the stringent government regulations to ensure good health environment at workplaces.
Technology sector has realized significant impact of the COVID-19 disruption around the world. It has impacted the raw material supply, to unsettling of the entire electronics value chain, causing the price augmentation of the products. From a constructive viewpoint, the disruption has caused a speeding up of remote working, and a quick focus on assessing and de-risking the end-to-end value chain.
The supply chain restrains may result in delayed in the launch of the new smartphones. Also, the customers base contraction risk due to the change in expense pattern.
Software seems to be the booster dose for the IT industry, contrary to the short supply of the parts in the supply chain that pulling down the IT industry. Companies with the strong remote working capabilities have excelled the significant growth.
Security software will see third-order benefits from an increasing remote workforce. IT expenses on security software will upsurge as organizations competition to secure endpoints, particularly cloud-based tools, log management, and VPNs.
The necessity for ever-faster access to data and automation will augment the attention on network equipment and communications as never before, speeding up 5G network deployments and adoption of 5G equipment.
Hardware companies may see foremost demand coming from enterprises, which are placing large orders for laptops and mobility devices to provision employees currently working from home.
Increased spending on digital transformation
Corporates have being taking initiatives and investing in health and safety to enhance their performance. With advancement of data management and analytics, it has become easy to analyze the data and set standard procedure and operations thus further helping in effective implementation of environmental, health and safety programs.
New scrutiny on workplace health and safety
Companies are under scrutiny to ensure workers are protected from the virus. Those that fail to convince the public of their commitment to employee safety, such as Amazon, have suffered harsh criticism. This sensitive awareness means potential employees and contractors may be more likely to consider a company’s ability to keep them safe as an important differentiator.
Relying on technology more
Right now, executives are highly aware of the value of technology. This makes it an appropriate time to propose new EHS software.
Making necessary changes to EHS processes
Significant changes coming for EHS programs. Regardless of what measures were in place before, many EHS processes will need to be redesigned to contend with the new threat that is SARS-CoV-2. Companies will have to re-evaluate their options and make major adaptations regarding new program update.
•An overview of the global EHS Software market
•In depth analysis of market dynamics and major factors such as drivers, restraints, opportunities and trends influencing the global market
•Global EHS Software market revenue data historic and forecast analysis (2015 to 2027)
•Characterization and quantification of the market segments for EHS Software market
•Market share analysis of key market participants and their competitive landscape
IMPORTANT QUESTIONS ANSWERED BY GLOBAL EHS SOFTWARE REPORT
•What is the impact of COVID 19 epidemic on the global EHS Software market?
•Which is mostly affected region, country?
•Which is the current largest and fastest-growing region?
•What is the market size and growth rate of the global EHS Software market?
•What are current factors affecting the growth of market?
•What are Key trends and opportunity areas?
•Within EHS Software market, which segments are fastest growing & emerging strongly? What are the drivers and restraints for each segment? What are vendor competencies by segment?
•What are the major strategies adopted by leading market companies?
•What are company challenges and essential success factors by market segment?
•How company offerings and supply chain capabilities are shifting to meet emerging market needs?