Booming EH&S Software Market Will Break Through $1 Billion Barrier In 2017
The EH&S software market is entering an interesting phase of development. On the demand side, more and more customers are seeking to transition beyond a traditional compliance-based approach.
Forward-thinking firms are striving to implement a proactive, risk-based approach to EH&S. In turn this is fuelling demand for single, multi-modular platforms which integrate all EH&S data into a single database to facilitate superior analytics and interrogation.
The supply side of the market is a hive of activity, peppered with private equity investment, acquisitions by large trade buyers and consolidation among medium-sized vendors. Witness Intelex and VelocityEHS enhancing functionality with the acquisitions of Ecocion and ErgoAdvocate respectively.
Meanwhile information solutions provider, Wolters Kluwer, and enterprise legal management solutions provider, Mitratech, recently bought Enablon and CMO Software respectively as they look to construct platforms for end-to-end risk management.
To accurately size and forecast the market, Verdantix has drawn on a range of data including software and implementation services revenue from the 30 largest vendors shared during the Green Quadrant EH&S software benchmark, global survey data from 312 EH&S decision-makers, and forecasts for economic and global industry growth.
Verdantix forecasts the global EH&S software market will grow at an 11% CAGR from $930 million in 2016 to $1.41 billion in 2020.
Tune into the Verdantix webinar of Thursday 29th September to find out more about the:
• Current state of the EH&S software market
• Industries and geographies with the strongest prospects for growth
• Key factors shaping the direction of spending over the next five years