Dublin, Feb. 03, 2022 (GLOBE NEWSWIRE) -- The "Environmental Health and Safety Software Market By Product, By Application, By End-User, And By Regions, Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 - 2026" report has been added to ResearchAndMarkets.com's offering.
Global Environmental Health and Safety Software Market is predicted to be valued at approximately USD 6.4 Billion in 2020 and is expected to reach a value of around USD 9.1 Billion by 2026, at a CAGR of around 8.9% between 2021 and 2026.
Environmental Health and Safety software or EHS software functions as a data management tool that helps in storing and analyzing information pertaining to waste management, sustainability, occupational health, and safety of workers.
EHS services are mainly utilized by businesses for the purpose of maintaining regulatory compliance through the tracking of the environmental performance metrics, providing comprehensive reporting functions, and tracking inventory. Firms also use the data collected by EHS software to assist in the risk management analysis and coin a particular strategy.
Firms make use of EHS software for reducing workplace risks, enhancing environmental performance via waste reduction, and ensuring responsibility for workplace events. Furthermore, the product is also used for improving the activities pertaining to data collection and reporting. Environmental health and safety software is extensively utilized across the highly regulated sectors in which the standard of compliance is very high.
Environmental health and safety software comprises a database, driven by enterprise software applications that cover data from different broad fields of environment and waste management, occupational health and medical safety, and industrial hygiene.
Easy access to the software for the employee from any location to boost the market trends
Easy accessibility of the software is predicted to help the employees of the firm make use of EHS services wherever and whenever they require them. The software also helps the managers to create a strong safety culture through the facilitation of employee participation in large numbers.
Furthermore, EHS software offers a tool for myriad firms to maintain the health and safety of their employees from potential hazards in the workplace. In addition to this, it assists the companies in fulfilling the health and safety legislation. All these aspects are predicted to drive the growth of the market during the forecast timeline.
Apart from this, firms are opting for environmental health and safety software for gaining strategic as well as a competitive edge over their business rivals. Nevertheless, pricing pressures and tough competition from IIOT tool providers can hinder business growth over the forecast period. Moreover, the high costs of EHS software deployment will impede the expansion of the industry over the forecast timeline.
Energy & Utilities to dominate the vertical segment by 2027 in terms of revenue
The growth of the segment during the forecast timeline is due to a rise in industrialization as well as construction events across the globe.
Large enterprises to contribute majorly towards the overall market revenue share by 2027
The segmental growth over the forecast period is attributed to the growing demand for the product by the large firms for acquiring a competitive edge over their business rivals.
North America to account for a major revenue share of the overall market by 2027
The growth of the market in the region is credited to the huge acceptance of EHS software across a spectrum of end-use sectors like oil & gas and construction.
Top Market Players
The key market participants for the global environmental health and safety software market are
- Velocity EHS
- Enablon
- Intelex
- Cority
- Gensuite
- Sphera
- SAI Global
- Quentic
- UL
- Alcumus
- SHE Software
- VisiumKMS
- Ideagen
- EcoOnline
- ETQ
- Dakota Software
- ProcessMap
- SafetyCulture
- ProntoForms
- Verisk 3E
- Enhesa
- SAP
- IsoMetrix
For more information about this report visit https://www.researchandmarkets.com/r/aoiust
