Market Size And Forecast: Process Safety Management Software 2024-2030 (Global)

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Executive Summary

The report helps executives at process safety management (PSM) software firms, current and prospective investors, and digital service providers active in the broader industrial software ecosystem to understand the current size and forecast growth of the global PSM software market. The report reviews the current state and growth prospects of the market, highlighting trends and drivers through to 2030. Based on census and vendor revenue data, regulatory and macroeconomic drivers, interviews with software suppliers, and survey data from 304 decision-makers at industrial firms, Verdantix finds that the PSM software market will grow from $1.45 billion in 2024 to $3.07 billion in 2030, at a CAGR of 13.3%.

Table of contents

Summary for decision-makers
Process safety management (PSM) software market size and forecast methodology

An overview of the PSM software market
The PSM software market was worth $1.45 billion in 2024
Investment in PSM software is driven by safety and productivity objectives and regulatory compliance needs
Unstable global economic conditions and change management difficulties will decelerate PSM software spend in the next six years
The PSM software market will grow at a CAGR of 13.3% to reach $3.07 billion in 2030

Table of figures

Figure 1. Market size and forecast methodology
Figure 2. PSM market size and forecast: regions breakdown   
Figure 3. PSM market size and forecast: industry breakdown
Figure 4. PSM software spend by region: 2024
Figure 5. PSM software spend by industry: 2024
Figure 6. PSM software spend by segment: 2024
Figure 7. PSM software market forecast and CAGR: 2024-2030
Figure 8. PSM software market forecast by region: 2024-2030
Figure 9. PSM software market forecast by industry: 2024-2030
Figure 10. PSM software market forecast by segment: 2024-2030

About the authors

Sayanh Alam

Analyst
Sayanh is an Analyst in the Verdantix Industrial Transformation practice. Prior to joining Verdantix, she completed an MSc in Chemistry with Molecular Physics at Imperial College London. Here, she undertook research in renewable energy, focusing on improving the thermal stability of organic solar cells under manufacturing and operating conditions.

Malavika Tohani

Research Director, Industrial Transformation
Malavika leads the Verdantix Industrial Transformation practice. The team’s current research focusses on digital technologies and services that enable industrial operations become safer, efficient and sustainable such as asset maintenance and performance, industrial AI and data management, connected workforce and field service management, process safety and industrial engineering, design and construction. Malavika has over 20 years’ experience in research and strategy consulting. Malavika previously worked at Frost & Sullivan, managing and delivering advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.

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