Environmental Health and Safety Software Market – Low Calorie Diets Tips

NEW YORK, June 9, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report, “Environmental Health and Safety Software Market – Growth, Trends, Impact of COVID-19 and Forecasts (2022-2027)” – https ://www.reportlinker.com/p06184959/?utm_source=GNW

Key Highlights
Environment, Health and Safety (EHS) software solutions are responsible for maintaining an appropriate balance between various environmental issues, including regulatory compliance, corporate sustainability to protect the environment, accident prevention, environmental auditing and inspection, process standardization, the Response to incidents, etc.
EHS solutions are becoming a core part of any business organization to transform business continuity, profitable growth, corporate social responsibility and operational excellence in relation to environmental interactions. The integrated environment of government regulations, legal forces, economic conditions, and technology has convinced organizations across multiple industries to implement EHS solutions as a fundamental operational imperative. More importantly, companies are trying to avoid future operational costs due to environmental concerns and the risks associated with hazardous situations.
The demand for robust EHS software is growing due to the importance of safety practices in the workplace. According to the Health and Safety Executive (HSE), more than half of the fatal injuries in 2020 occurred to workers in agriculture, forestry, fisheries and construction. In 2020, 38% of fatal accidents at work were reported among the self-employed, despite these workers making up just 16% of the workforce. The proportion of fatal injuries among the self-employed is higher in 2020-21 than in previous years.
The implementation and budget concerns along with the lack of analytics are hampering the growth of the market. According to the National Association for EHS&S Management’s (NAEM) EHS&S Software Buyer’s Guide, buyers in the new system market budget between $58,000 and $2,000,000 for their first software purchase, with an average budget of $310,750.
Various companies are increasingly requiring EHS software to improve worker health and safety monitoring during COVID-19 by automating case reporting and management, communication with workers, increased self-assessments and voluntary check-ins. Government guidelines have also required employers to conduct COVID-19 risk assessments to put in place the necessary controls. It is important to carry out these risk assessments in a systematic way and to have a centralized management method that can be offered by the EHS software.

Key Market Trends

Oil and gas segment to hold significant market share

Oil and gas workers are directly exposed to chemicals produced and used in the oil and gas industry. Depending on the duration and extent of the exposure time, they can suffer occupational diseases of the skin, lungs and other organs. Therefore, the requirement for an effective EHS strategy becomes imperative for the organizations working in this sector.
Oil and gas are significant sectors that play a significant role in the development of ETS demand in the market under study. Oil and gas companies were early adopters of EHS solutions as they operate in a high-risk, volatile, efficient and highly regulated industry.
Several factors, such as rising energy demand, volatile oil and gas prices, an increase in government scrutiny, and an increasing demand for efficient incident management are expected to create a broader market space for EHS in the studied sector. Approximately 18,000 miles of idle oil and gas pipelines pose safety and environmental risks in the Gulf of Mexico, according to the Government Accountability Office’s 2021 report. The report was released on the eve of the 11th anniversary of the Deepwater Horizon oil rig disaster in the Gulf. Such risks create further demand for the EHS software.
In March 2021, the Bureau of Safety and Environmental Enforcement introduced a free BSEE Safe text message alert system. The agency reports that over 7,000 subscribers have received links to BSEE safety alerts and bulletins covering offshore oil and gas work on the outer continental shelf. In addition, BSEE has sent out text messages directing subscribers to 61 security alerts and bulletins about BSEE Safe. The resources provide lessons learned from industry incidents and near misses, as well as recommendations for preventing future occurrences.
According to the International Association of Oil and Gas Producers (IOGP) annual report on safety performance indicators, a decrease in the number of deaths in oilfields from 25 in 2019 to 14 in 2020 was observed. This not only reflects increased safety standards and awareness in the oilfield, but also a 16% decrease in total reported hours worked compared to the previous year. In addition, the 14 registered deaths occurred in 12 separate incidents, according to the report. While the onshore and offshore fatality rates are 0.42 and 0.92, respectively, the corporate and contractor fatality rates are 0.56 and 0.54, respectively.

North America holds a significant market share

North America is projected to hold the largest share of the environment, health and safety (EHS) software market. One of the main reasons behind the growth of the studied market is the increasing number of strict government regulations related to occupational safety, environment, etc.
Additionally, the region has a strong presence of EHS software vendors that are positively contributing to the growth of the market studied. Some of the North American-based vendors include Intelex Technologies Inc., VelocityEHS, Sai Global Pty Limited, Dakota Software Corporation, and Gensuite, among others.
Vendors in the region are improving their EHS software solutions. For example, in July 2021, VelocityEHS, a leading provider of cloud-based environment, health, safety (EHS) and sustainability software, acquired Kinetica Labs, a pioneer in developing sensor and simulation technology for workplace safety and health in Ann Arbor.
Similarly, in May 2021, VelocityEHS acquired OneLook Systems, an Irish software company. The acquisition will strengthen its enterprise-wide platform services and capacity to support users in addressing emerging risk management concerns related to the COVID-19 outbreak and beyond.
Several stakeholders are taking the initiative to aim for zero safety incidents and to minimize the impact of their operations on the environment. For example, in August 2021, ProcessMAP Corporation, a provider of data intelligence-driven software solutions that helps customers transform into a sustainable business, announced that Fortune Brands Home & Security, Inc., a Fortune 500 company, will drive this Digitally transform its global EHS and ESG initiatives leveraging ProcessMAP’s smart and actionable data intelligence solutions.
Countries and their respective states in the region have developed several regulations and requirements to protect the natural environment and the health of their citizens. Products that are manufactured, sold, distributed, and imported are subject to a growing list of complex local, regional, and federal (mandatory and self-regulated) environmental requirements in the United States and Canada. These environmental and safety measures create new compliance challenges for global and local companies.
In the North American region, the Environmental Protection Agency (EPA) and the US Occupational Safety and Health Administration (OSHA) strictly enforce occupational safety, which has driven the adoption of EHS software. Almost all businesses in the United States are subject to OSHA standards, so they are a relevant concern for employers and employees in a variety of industries.

competitive landscape

The market for environmental, health and safety software is fragmented, with many large, technologically advanced players in the industry, such as VelocityEHS, Enablon, Cority and Gensuite, the rivalry is very high, especially among the incumbent market players. Market penetration is increasing, with a strong presence of key players in established markets. As the focus on innovation increases, so does the demand for new technologies like AI, which in turn drives investment in advancements.

May 2022 – DNV enters into a strategic partnership with IOGP to develop decarbonization standards and accelerate the upstream oil and gas transition. Additionally, DNV was selected by the International Association of Oil & Gas Producers (IOGP) to support the decarbonization initiatives of IOGP members, which produce 40% of the world’s oil and gas consumption.
January 2022 – ProcessMap Corporation announced that Hg, a leading software and services investor with nearly $40 billion in assets under management, has acquired EHS Software.

Additional benefits:

The Market Estimate (ME) sheet in Excel format
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Read the full report: https://www.reportlinker.com/p06184959/?utm_source=GNW

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