LONDON–(BUSINESS WIRE) – Three vendors – Enablon, Sphera and VelocityEHS – lead the process safety management (PSM) software market, reflecting the highly competitive market environment. Using its proprietary Green Quadrant methodology, independent research firm Verdantix assessed the capabilities of 13 PSM software vendors for their ability to meet customer needs to consolidate functionality and technology integrations into comprehensive solutions.

“The PSM software space has evolved from a point solutions-focused market to a market of increasing integration and consolidation of functionality – but there is still plenty of room for growth,” said Bill Pennington, Research Director. “Therefore, buyers of PSM software are looking to work with PSM providers who have mobile applications with offline functionality for PSM, open architecture and extensive out-of-the-box functionality and standards to support PSM programs.”

Verdantix’s “Green Quadrant: Process Safety Management Software 2021” report provides potential buyers of PSM software with detailed analysis to accelerate vendor selection decisions. Key findings:

  • Enablon, Sphera and VelocityEHS are the leading providers of PSM software.

  • AVEVA offers the most robust AI-powered analysis tools for maintaining mechanical integrity.

  • Intelex offers the strongest features for the deployment environment with a perfect score of 3.00 / 3.00.

  • Application and data center security offerings are led by DevonWay, Enablon, Intelex, Sphera, TenForce and VelocityEHS.

  • Leading vendors are demonstrating various competitive advantages by expanding their offerings to incorporate critical aspects of PSM such as Hexagon for robust asset management functions, Sphera for control of work functions, VelocityEHS for critical event management and VisiumKMS for change management .

  • New technologies for PSM include the use of 3D laser scanning to develop digital twins for asset management PSM activities, the use of risk visualization techniques to optimize PSM solutions, and increasing expenditures on wearables for process and occupational safety.

  • Solutions for the disposal of hazardous waste represent a significant opportunity for digitization, as these solutions are currently not robust among the rated providers with an average score of 1.00 / 3.0 for the 13 providers.

“PSM software has capabilities to support process safety management, change management, and highlight activities at risk,” continued Pennington. “These capabilities serve customers in high-risk industries well, but PSM vendors should continue to leverage new innovative technologies to improve PSM software functionality and create a networked ecosystem for dynamic risk management.”

Attend the Verdantix Webinar: Choosing the Right Software Vendor for Your PSM Needs