Process Safety Lifecycle Management Market 2025: Industry Developments, Future Growth, Share & Industry Insights | Honeywell, ABB Limited, PAS Global, LLC, Mangan Software

Process Safety Lifecycle Management Market is expected to grow at a significant CAGR during the forecast period 2024-2031.

Industry Top Players:
Top players are Honeywell, ABB Limited, PAS Global, LLC, Mangan Software Solutions, Yokogawa Corporation of America, aeSolutions, Exida, Iqvia, Burrow Global, and mosaic Corporation.

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✅ United States - Industry Latest News:
• Paradigm HSE Acquires Paragon Safety Group
In June 2025, Paradigm HSE, backed by Warren Equity Partners, acquired Paragon Safety Group, expanding its safety services portfolio.

• U.S. Compliance Acquires OSHA/Environmental Compliance Systems
In April 2025, U.S. Compliance, supported by Susquehanna Private Capital, acquired OSHA/Environmental Compliance Systems (OECS), enhancing its compliance services.

• Sphera Launches SpheraCloud PSM
In 2023, Sphera introduced SpheraCloud PSM, a next-generation Process Safety Management solution, enhancing safety and compliance capabilities.

✅ Japan - Industry Latest News:
• Sysmex Report 2025
Sysmex's 2025 report outlines advancements in medical device safety and regulatory compliance, reflecting ongoing improvements in process safety standards.

• Japan Adopts IMDRF Cybersecurity Guidelines
As of April 2023, Japan integrated the International Medical Device Regulators Forum (IMDRF) cybersecurity guidelines into domestic laws, enhancing medical device safety.

✅ South Korea - Industry Latest News:
• South Korea Updates MSDS Standards
On August 6, 2025, South Korea's Ministry of Employment and Labor issued revised standards for Material Safety Data Sheets (MSDS), effective immediately on August 7, 2025.

• South Korea's 2025 Chemical Regulatory Overhaul
On September 5, 2025, South Korea announced significant updates to the Chemical Control Act, K-REACH, and MSDS standards, strengthening chemical safety regulations.

✅ Europe - Industry Latest News:
• EU Updates IDMP Implementation Guide
In Q3 2025, the European Medicines Agency released an updated version of Chapter 9 of the EU IDMP Implementation Guide, enhancing product lifecycle management in pharmaceuticals.

• ProPharma Group Offers European Regulatory Lifecycle Management
ProPharma Group provides comprehensive regulatory lifecycle management services in Europe, ensuring compliance throughout the product lifecycle.

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Market Segmentation
By Type (Software, Service)
By Deployment Model (Cloud-based, On-Premises, Hosted)
By Application (Enterprise, Local, Plant)
By End-User (Pharmaceutical & Biotech, Chemical, Electric Power Generation, Oil & Gas Refining, Others)
By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Global Market Overview
• North America: Historically, North America has held a significant share in the PSLM market, owing to stringent safety regulations and a mature industrial base.
• Europe: Europe also maintains a strong presence, with countries like Germany and France leading in adopting advanced safety management systems, particularly in the automotive and chemical sectors.
• Asia-Pacific (APAC): The APAC region is witnessing rapid growth, driven by industrial expansion in countries such as China, India, and Malaysia. The adoption of new technologies and increasing awareness of safety standards are contributing to this growth.
• Middle East & Africa (MEA): The MEA region is focusing on enhancing safety measures in industries like oil & gas and petrochemicals, with investments in process safety lifecycle management systems.
• Latin America: While smaller in market share, Latin America is gradually adopting PSLM solutions, influenced by global safety standards and local regulatory requirements.

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Key Players in the PSLM Market:
The PSLM market is characterized by the presence of several prominent players offering a range of solutions and services. These include:
• Honeywell: A leading provider of process safety solutions, offering integrated systems for hazard analysis, risk assessment, and safety instrumented systems.
• ABB Limited: Known for its comprehensive safety systems and services, ABB provides solutions that integrate process safety with automation and control systems.
• PAS Global, LLC: Specializes in process safety software solutions, including hazard analysis and safety lifecycle management tools.
• Mangan Software Solutions: Offers software solutions for process safety management, focusing on compliance and risk reduction.
• Yokogawa Corporation of America: Provides safety systems and services, including safety instrumented systems and risk management solutions.
• aeSolutions: Specializes in process safety consulting and software solutions, focusing on risk analysis and safety lifecycle management.
• Exida: Offers functional safety and cybersecurity solutions, including SIL (Safety Integrity Level) verification and lifecycle management tools.
• IQVIA: Provides data analytics and software solutions that support process safety management in regulated industries.
• Burrow Global: Offers engineering and construction services with a focus on process safety and risk management.
• Mosaic Corporation: Provides safety systems and services, including hazard analysis and risk assessment tools.

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