Industry Analysis & Industry Trends
Revenue for the Occupational Health and Workplace Safety Services industry has grown strongly over the past five years, rebounding from recessionary lows. As the economy has recovered, increased employment and expanded production in key downstream markets, such as mining and construction, have lifted demand for industry services. Additionally, heightened enforcement of state and federal occupational health and safety regulations has increased the cost of noncompliance, driving businesses to seek outside consultation from industry operators to avoid government penalties. These trends are expected to continue over the next five years, further driving demand and encouraging new companies to enter the industry... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Occupational Health and Workplace Safety Services industry has a low level of concentration due to the breadth of services it provides, the variety of markets it serves and the existence of many small, successful companies within each service area. In 2016, the industry's four largest companies are expected to account for less than 10.0% of the industry's revenue.
Over the past five years, the contribution of nonemployers to the industry has increased, resulting in decreased concentration. As a result of greater demand for specialty consultants, many professionals in other industries have begun to offer their services on a part-time or contract basis as consultants, adding to the number of nonemployer firms.
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