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Bright Prospects for EH&S Market

22 July 2016 | Updated 01 January 1970

The global market for environment, health and safety software will exceed $1.4 billion in 2020 up from $932 million in 2016.

The findings come of a new market size and forecast model produced by independent analyst firm, Verdantix that predicts the market will grow at a 11% compound annual growth rate over the next five years reflecting economic growth, industry dynamics and private equity investments.

If correct, software suppliers such as Dakota Software, DNV GL, EtQ, Gensuite, Mitratech, SAI Global and thinkstep are positioned to benefit from this growth trend.

The Verdantix report – EH&S Software: Global Market Size and Forecast 2016-20120 – is based on revenue data from the 30 largest vendors and estimates of data from an additional 170 smaller vendors based in 17 countries. Report highlights include:

  • North America accounts for 58% of the market with spend of $493 million in 2016. Europe makes up 30% of the market with spend of $252 million. South East Asia will experience the highest annual growth rate over the next 5 years at 14%. Russia will see growth of just 7% per annum.

  • Oil and gas investment in EH&S software continues to dominate with spend on new software licenses, maintenance, and subscription fees of $342 million in 2016 which is 37% of the entire global market. The chemicals industry accounts for 13% and mining 10%.

  • In 2016, 39% of the 312 EH&S buyers surveyed by Verdantix in 18 countries said they plan to increase spend on EH&S software with only 2% forecasting a reduction.

“An increasing proportion of EH&S leaders buy into the business case for EH&S software and the broad acceptance that better information management systems deliver better EH&S results is an essential ingredient in the growth of the market,” stated David Metcalfe, CEO, Verdantix. “As the market is driven by hundreds of regulations, a wave of investment and growing demand for integrated EHSQ platforms, we see few downside risks. But vendors who do not raise capital in 2016 will find the competitive environment increasingly difficult as multiple vendors breach the 500 employee mark.”

Picture: David Metcalfe CEO Verdantix – “better information management systems deliver better EH&S results”

Article written by Robin Snow | Published 22 July 2016


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