Market Size And Forecast: EHS Software 2022-2028 (Global)

Published 3 October 2023 by Christopher Sayers, Rain Chiang & Bill Pennington,

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Executive Summary

This report helps executives at EHS software vendors, EHS service providers active in EHS information management, and investors in the EHS software market understand the current state and size of the market, as well as the trends and drivers that will shape the market into 2028. The Verdantix model, informed by analysis of EHS software revenues and macroeconomic drivers, shows the EHS software market reaching $1.8 billion in 2023. The market will grow by a CAGR of 11.5% to reach $3.1 billion in 2028 and will be influenced by a series of complex forces throughout the forecasting period. Market growth will be propelled by the continued digitization of EHS workflows, particularly in the mid-market, and growing appetite to trial emerging technologies, such as AI, computer vision and advanced analytics. Demand for granular, auditable emissions and other ESG data from regulators, consumers and investors will fuel spend in the EHS software market, which has rapidly invested to develop specialist functionality to cater to this fast-growth area.

Table of contents

Updated macroeconomic drivers and market data provide granular detail on the EHS software market
Market size data reflect aggregate EHS software revenues and trends
Macro-level economic drivers show moderate global growth
The EHS software market displays determined growth, encouraged by ESG tailwinds
Global spending on EHS software will reach $1.8 billion in 2023
Incoming ESG and environmental regulation, as well as demand to increase safety management sophistication, will boost growth
The EHS software market will grow at a CAGR of 11.5% to reach $3.1 billion in 2028

Table of figures

Figure 1. Industries categorized by EHS risk level
Figure 2. 2023 EHS software market size by region
Figure 3. 2023 EHS software market size by industry
Figure 4. 2023 EHS software market size by industry risk category ($ million, %)
Figure 5. EHS software market forecast and CAGR 2022-2028
Figure 6. EHS software market forecast by region 2022-2028
Figure 7. EHS software market forecast by risk category 2022-2028

About the authors

Christopher Sayers

Senior Analyst
Chris is a Senior Analyst in the Verdantix EHS practice. His current research agenda focuses on EHS software, product compliance software and digital mental health and wellbeing solutions. He was also the lead author of the most recent Verdantix EHS Software Green Quadrant benchmarking study. Chris joined Verdantix in 2020 and has previous experience at EY, where he specialized in robotic process automation (RPA). He holds an MEng in Engineering Science from the University of Oxford, with a concentration on machine learning and machine vision.

Rain Chiang

Analyst
Rain is an Analyst in the Verdantix EHS practice. His current research agenda focuses on the intersection between EHS and ESG priorities. Prior to joining Verdantix, Rain gained consulting experience from internships at EY and P&G. He holds an MA in Economics and Politics from the University of Edinburgh.

Bill Pennington

VP Research, EHS & Risk Management
Bill is the VP Research for the Verdantix EHS & Risk Management practices. His current agenda focuses on understanding the evolution of EHS and enterprise risk management, evaluating emerging strategic risks and benchmarking technology buyers’ budgets, priorities and preferences globally.

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