NORCROSS, GA. - The environmental software market is booming, according to Future Technology Surveys Inc. (FTS), Norcross, Ga.
Its most recent survey in 1996 found the annual market at $500 million. The market is forecast to grow at a rate of 15 percent annually through the year 2001.
Almost 60 percent of purchases are made by industrial/utility firms and consulting engineering firms. Currently, an estimated 67 percent of the market is aimed at IBM personal computers and compatibles. This figure will increase to 75 percent by 2001.
The largest areas of application for environmental software are: toxic materials, air quality management and water/wastewater management. Software for water/waste-water management is expected to see the most significant market growth over the next five years.
The largest functional areas for environmental software are: tracking toxic chemical inventories, pollutant monitoring and waste tracking/reporting.
Risk assessment software will enjoy the strongest market growth within a five-year time frame.
The most significant recent advances in the field include Windows programs, CD-ROM, integrated data management systems with power subsystems for calculations, monitoring data and analyses, and increased access to the Internet.
During the next five years, FTS expects to see industry consolidation, with some smaller firms acquired by larger ones, thus rounding out services and product lines. With low barriers to entry, however, more companies will continue to enter the environmental software marketplace.
The number of active software companies is expected to increase from about 200 in 1996 to 300 by 2001. Pricing competition is expected to become more severe over the next three years.
For more information, contact FTS at 5880 Live Oak Parkway, Ste. 255, Norcross, Ga. 30093. (770) 368-4190.