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Historically environmental health And security software wasn’t a huge market—at least compared to others in the software-as-a-service segment—and admittedly not the most exciting startup category. But that’s changing, according to a new study released by research firm Verdantics.
EHS software acts as a data management system to capture and analyze data related to occupational health and safety, waste management and sustainability. Companies use EHS software to track emissions and investigate incidents in the workplace, for example, as well as conduct health and safety training and restricted access.
The Verdantics Green Quadrant: EHS Software 2023 study shows that the EHS software market has had more than 50 transactions in the past two years and is forecast to grow from $1.6 billion in 2022 to $2.7 billion in 2027. A global economic downturn due to differences such as the use of AI and automation, moreover.
“The past two years have seen a shift in the market landscape for EHS software vendors to expand their product offerings to address the robust environmental management solutions driven by the ESG megatrend,” Verdantics industry analyst Chris Sayers said in a statement. They are redefining the functional possibilities of emerging technologies such as point-of-sale and EHS software.”
According to Verdantix, since ETF Partners invested about 10 million euros (approximately $11 million) in EHS vendor Enblok in 2011, private equity firms and strategic investors such as Wolters Kluwer and Fortive have poured more than $4 billion into the EHS software market. The absence of the world’s largest enterprise software vendors – IBM, Microsoft, Oracle, Salesforce and SAP – has left a lot of oxygen in the market for midsize businesses to grow.
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