NEW YORK--(BUSINESS WIRE)--The global market for business and IT consulting services related to EH&S information management and EH&S software solutions will grow from $475 million in 2015 to $817 million in 2020, according to a new forecast from independent research firm Verdantix. Beneficiaries of the 11% annual growth rate are AECOM, CH2M, Deloitte, ERM, IBM Global Business Services and Wipro Technologies as well as software providers like Credit360 and SAP who implement their own EH&S software products.
“The consulting market for EH&S information management is set to rebound in a big way as financial investors pour cash into EH&S software vendors enabling them to bring more comprehensive EH&S applications to market” commented Verdantix CEO, David Metcalfe. “The rise of broader EH&S software platforms will create new opportunities for consultants to customize workflows, integrate with other IT systems and apply business intelligence tools to uncover hidden value in EH&S data sets. The broader and more complex the software, the more customers need help on process design, implementation and integration.”
The Verdantix report, entitled “EH&S Technology Services: Global Market Forecast 2015-2020”, is based on financial data from 9,500 firms in eight of the world’s largest economies and deal flow data from the top 25 software vendors and services firms. Highlights from the market model include:
- 11% compound annual growth from $475m in 2015 to $817m in 2020
- US market worth $274m in 2015 representing more than 50% of total market value
- France, Germany and UK collectively worth $126m in 2015
- Oil and gas spend at $204m in 2015, chemicals $74m and power utilities $74m
- 30% of EH&S software implementation projects are conducted by software vendors
Big beneficiaries of this growth trend will be EH&S software vendors with partner strategies: CMO Compliance, Enablon, EtQ, Gensuite, Intelex, KMI, Medgate, ProcessMAP and Rivo Software.
“This market is entering a third phase of development” continued Metcalfe. “From 2000 to 2008 the focus was on environmental compliance. From 2008 IT systems for health and safety were prominent. Now the market is moving towards integrated platforms for operational risk management. That should drive improvements in EH&S performance.”
To get insight into this market download the complimentary Verdantix report “Key Trends In The EH&S Implementation Services Market.”