The growing number of new businesses and higher private investment in industrial machinery and manufacturing structures have stimulated demand for workplace safety services, which has encouraged moderate price growth for those services. For these reasons and to help procurement professionals make better buying decisions faster, business intelligence firm IBISWorld has updated a report on the procurement of Workplace Safety Consulting Services in its growing collection of procurement category market research reports.
Los Angeles, CA (PRWEB) December 23, 2014
Workplace safety consulting services have a buyer power score of 3.1 out of 5, reflecting slightly favorable purchasing conditions for buyers. Although price growth has been moderate and price volatility has been low, a variety of factors have stifled buyer power in the past three years. In particular, “new business growth, rising private investment in industrial machinery and manufacturing structures and tightening regulations have sent demand for these services upward,” says IBISWorld research analyst Daniel Krohn. Faced with escalating demand, suppliers have had less incentive to negotiate with buyers, thereby diminishing buyer power.
Buyers benefit, however, from the market's low barriers to entry, which have allowed an influx of new vendors to enter the workplace safety consulting market. The market also offers short project lead times, which have made it easier for buyers to switch suppliers at very little cost. Together, adds Krohn, “these trends create a growing advantage for buyers by boosting market competition.” While demand growth is forecast to outpace the anticipated rise in competition in the next three years, the escalating threat of competition will still help prevent prices from spiking substantially, alleviating some of the pressure on buyer power.
Also, the complexity and size of the buyer's facility will impact the amount of negotiating power the buyer has. Buyers with larger, more complex facilities will require more specialized service than those with smaller, standard facilities, thereby affording them fewer supplier options. Furthermore, buyers with large, complex facilities will often be charged in accordance with a time-based price model and will, thus, have substantially less leverage when negotiating with suppliers. Current suppliers include Bureau Veritas, EI du Pont, Honeywell and Rockwell Automation. For more information, visit IBISWorld’s Workplace Safety Consulting Services procurement category market research report page.
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IBISWorld Procurement Report Key Topics
This report is intended to help buyers of workplace safety consulting services. Suppliers of these services analyze facilities to identify situations and processes that may cause harm, particularly to people, including natural events, accidents or acts intended to cause detriment. Service providers identify potential hazards within facility operations, evaluate the severity of the hazards and provide suggestions for mitigating risk and preventing harm in order to improve workplace safety and increase a company's ability to meet regulatory requirements. Services do not include risk assessment for the purpose of insurance evaluation.
Executive Summary
Pricing Environment
Price Fundamentals
Benchmark Price
Pricing Model
Price Drivers
Recent Price Trend
Price Forecast
Product Characteristics
Product Life Cycle
Total Cost of Ownership
Product Specialization
Substitute Goods
Regulation
Quality Control
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Imports
Competitive Environment
Market Share Concentration
Market Profitability
Switching Costs
Purchasing Process
Buying Basics
Buying Lead Time
Selection Process
Key RFP Elements
Negotiation Questions
Buyer Power Factors
Key Statistics
About IBISWorld Inc.
IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
