Dublin, December 02, 2021 (GLOBE NEWSWIRE) – The report “Environmental Health and Safety Software Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com offer.
The environmental health and safety software market is expected to register a CAGR of 12.3% during the forecast period (2021 – 2026). Environmental Health and Safety (EHS) software solutions are responsible for maintaining an adequate balance between various environmental themes, including regulatory compliance, corporate sustainability of environmental protection, accident prevention, l ‘environmental audit and inspection, process standardization and incident response.
EHS solutions become an essential part of every business organization to drive transformation in business continuity, profitable growth, corporate social responsibilities and operational excellence related to environmental interaction.
The integrated environment of government regulations, legal forces, economic conditions, and technology has convinced organizations across multiple industries to implement EHS solutions as a core business need. Most importantly, organizations try to avoid future operational expenses due to environmental protection and the risks associated with hazardous situations.
The demand for robust EHS software is increasing due to the importance of safety practices in the workplace. From a business perspective, facing severe and high penalties for health and safety violations can impact a company’s finances. According to SHP Online, a leading online community serving the ESH market, sanctioned with fines around the world, has seen an increase of over 74% in health and safety alone.
In addition, according to Safety Media, up to 1.3 million workers suffer from work-related illnesses. About 72,702 reported cases of employers sustained non-fatal injuries, while 144 workers sustained fatal injuries. Depending on the age of the employee, the same incident or accident is more likely to have a different impact on the employee. Over the next few years, the population of workers over the age of 55 is expected to increase dramatically, attracting the attention of several organizations to automate their security solutions.
Organizations of all sizes, including large, medium, and small businesses, deploy environmental EHS solutions through easy cloud deployment options. The pay-as-you-go pricing model strongly influences medium and small businesses to opt for EHS solutions, which is becoming a mandatory business need for organizations to follow.
It is evident that after a large-scale disaster, such as the coronavirus pandemic, the perception of risk to various industries has increased. The pandemic has made health and safety a hot topic. While COVID-19 poses a challenge globally, it also offers many opportunities. The pandemic has redefined the definition of environmental health and safety (EHS).
For example, vendors may consider redesigning their software to deal with the new threat, SARS-CoV-2, as companies that consider their security programs strong and effective may need to re-evaluate their options for making adaptations. major.
Key market trends
Chemicals segment will hold significant market share
Since operations in the chemical industry require the use of different materials and substances, even the slightest handling error can lead to costly and fatal consequences. As a result, EHS solutions are adopted in the industry to monitor the storage and use of hazardous chemicals, help companies meet their obligations, and prevent safety violations.
In April 2019, US-based VelocityEHS acquired ChemTel Inc., a provider of safety and compliance services for the transportation of hazardous chemicals. The acquisition helped the company strengthen its chemicals and safety data sheet (SDS) management platform by integrating ChemTel’s emergency response operations center and transportation advisory services. of hazardous materials.
To achieve its goal of âZero accidents and zero environmental incidentsâ, the German company INEOS Koln has adopted Quentic’s EHS software. Since 2014, the company has been using the software to record and analyze dangerous situations and incidents that could endanger the environment. As a member of the German Chemical Industry Association (VCI), the software also helped the company comply with VCI environmental guidelines and joined the âResponsible Careâ initiative.
In addition, Dow Chemical also announced an investment of USD 4 billion over the years 2018-2023 to expand its petrochemicals manufacturing business in the United States as part of the company’s next phase of large investments. Such investments should bring further development to the market.
Latin America has a significant market share
EHS issues across Latin America have become a more pressing problem for businesses due to increased regulations and stricter enforcement activities. In addition, not all Latin American countries have the same vision of EHS, especially given the great cultural and geographic differences between countries and regions. This particularity between countries makes it increasingly necessary to have solutions for each individual jurisdiction.
For example, Argentina became the first Latin American country to officially recognize the ILO guidelines on occupational safety and health management systems (ILO-OSH 2001), thus showing its commitment to improve working conditions and reduce work accidents and occupational diseases.
Brazil announced the modernization of 36 occupational safety and health (NR) regulatory standards in 2019 and the consolidation and simplification of labor decrees. The program is currently behind schedule because until November 2019 NR 1 and 2 have been revoked and NR 3, 12, 24 and 28 have been updated. The other NRs were revised in 2020.
According to the International Labor Organization, there are 11.1 fatal accidents per 100,000 workers involved in the industrial sector, 10.7 in agriculture and 6.9 in the service sector. Some of the most important sectors for regional economies, such as mining, construction, agriculture and fishing, are among the riskiest sectors.
Due to such cases, supplier activity has increased in the region. For example, in January 2020, IsoMetrix and Laragon announced a formal partnership to develop the European market and support expansion in Latin America. Isometrix has experienced rapid growth in the Latin America region in recent years.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Market Snapshot (Monitoring the Impact of COVID-19 on the Market)
4.2 Industry Attractiveness – Porter’s Five Forces Analysis
5 MARKET DYNAMICS
5.1 Market drivers
5.1.1 Strict government regulations spurred adoption
5.1.2 Rising demand for mobile and cloud platforms and advanced technologies
5.2 Market restrictions
5.2.1 Implementation, budgetary concerns and lack of analysis
5.3 Market opportunities
5.4 Qualitative analysis of EHS solutions
5.4.1 Incident management
5.4.2 Audit and inspection
5.4.3 Compliance management
5.4.4 Other EHS solutions
6 MARKET SEGMENTATION
6.1 By deployment mode
6.1.2 On site
6.2 By vertical end user
6.2.1 Oil and gas
6.2.2 Energy and utilities
6.2.3 Health and life sciences
6.2.4 Manufacturing and processing industry
6.2.6 Food and drink
6.2.7 Other end-user industries
6.3.1 North America
6.3.4 Latin America
6.3.5 Middle East and Africa
7 COMPETITIVE LANDSCAPE
7.1 Company profiles
7.1.2 Intelex Technologies
7.1.3 EHS Speed
7.1.4 Cority Software Inc.
7.1.5 SAI Global Pty Limited
7.1.6 Dakota Software Company
7.1.9 Quintec GmbH
7.1.11 SAP SE
7.1.12 iPoint-systems GmbH
7.1.13 SHE software
7.1.14 DNV GL
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
For more information on this report, visit https://www.researchandmarkets.com/r/44slio
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