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%.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
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 at Verdantix specializing in industrial asset management and operational risk management solutions. She advises software vendors and services firms on mar...
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Malavika Tohani
Research Director
Malavika is a Research Director at Verdantix, guiding research that explores how digital technologies and services are reshaping industrial operations to become safer, more ef...
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