UL Solutions Strengths, Domain Expertise, and Key Differentiators
UL Solutions transforms safety, security, and sustainability challenges into opportunities for customers in more than 100 countries. The company provides a range of services, including testing, inspection, and certification, along with software products and advisory solutions, to assist customers in advancing their product innovation initiatives.
UL EHS Sustainability is a division of UL, a global independent safety science company. UL EHS Sustainability empowers organizations to protect the well-being of workers, reduce risk, improve productivity, enhance compliance, and drive measurable business improvement through its PURE software platform.
UL Solutions Recent Developments
In November 2023, UL Solutions and the Telecommunications Industry Association, launched SPIRE 2.0 to Enhance Smart Building Performance in Cybersecurity, Connectivity, and Sustainability. SPIRE 2.0 provides a comprehensive smart building assessment to help owners and operators improve tenant satisfaction and increase asset value.
In November 2021, UL and the Telecommunications Industry Association (TIA), the trusted industry association for the connected world, launched the SPIREâ„¢ Smart Building Verified Assessment. SPIRE is a comprehensive evaluation for smart buildings that provides an overall UL Verified SPIRE Smart Building Rating, as well as a road map for recommended performance improvements.
To receive a UL’s Verified SPIRE Smart Building Rating, UL experts conduct an in-depth, on-site audit assessment of technologies and processes and follow-up with virtual meetings. The process focuses on six key, industry-driven building criteria categories that the full scope of smart building performance. These include power and energy, health and well-being, life and property safety, connectivity, cybersecurity and sustainability. After a successful assessment, a building receives a UL Verified SPIRE Smart Building Rating and a plaque that displays the overall building performance score, based on the building’s performance across the six criteria categories of the SPIRE smart building assessment framework.
UL Solutions Mergers and acquisitions (M&A) Activities
In August 2023, UL Solutions acquired CERE, a Madrid-based third-party testing, simulation and certification company. The acquisition enables to expansion of its grid code compliance testing, grid simulation, and certification services for inverter-based resources supporting renewable energy and electric vehicle adoption in Europe. In addition, the acquisition also enhances safety and electromagnetic compatibility (EMC) services for renewables and medical devices.
In July 2021, UL acquired a German-based Method Park. The deal fortifies UL’s expertise to help customers advance innovation safety, business transformation, and regulatory and standards compliance.
In May 2021, UL acquired solar analytics company Clear Sky Analytics’ proprietary software platform and related assets. Clear Sky Analytics co-founders Ajay Saproo and John Corson will also join UL. The proprietary software platform analyzes solar asset performance and provides prescriptive insights. With this acquisition UL expects to expand solar offerings and the overall depth of its solar and wind renewables expertise which includes advisory services across project life cycle and supply chain, from due diligence to project development, certification, testing and inspection, asset management and reporting.
UL Solutions Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying UL Solutions applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of UL Solutions and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified PureSafety Cloud, customers.
UL Solutions Overview
Ownership: - x
Number of Employees: 15000
Functional Market: Learning and Development,
Key Verticals: Automotive, Banking and Financial Services, Communications, Construction, Real Estate, Consumer Packaged Goods, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
UL Solutions Key Cloud and HCM Applications
PureSafety Cloud,
UL Solutions HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
UL Solutions Revenue Breakdown by Type:
UL Solutions HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2023 HCM Revenues, By HR Segment, $M | |
UL Solutions HCM Applications Revenues By Verticals, $M:
UL Solutions Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
UL Solutions Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
UL Solutions Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified UL Solutions Customers
No. of UL Solutions Customers: 80000
No. of UL Solutions HCM Applications Customers: x
No. of UL Solutions Cloud HCM Customers: x
No. of UL Solutions Cloud HCM Subscribers: x
The company serves a diverse range of customers, across various regions. The customer breakdown by industry highlights the company's versatility, catering to the needs of clients across different sectors.
UL EHS Sustainability serves more than 2,000 organizations in over 20 major industries including manufacturing, healthcare, and construction & energy, provides over 700 online lessons, available in multiple languages to support native language training for all employees.
Among its Workplace Health and Safety, customers are Holt Cat, FedEx, Bunzl Distribution USA, Coca-Cola Bottling Company Consolidated, Capital Safty, Stonetrust Insurance, Vanderbilt University, AECOM, Baptist Health, Carolinas HealthCare System, Essentia Health, Glendale Adventist Medical Center, Midwest Occupational Health Associates, Vidant Health, West Georgia Worx, WorkWell Occupational Medicine, Workforce Safety&Insurance, Amerex, Cummins Cumberland, FlowServe Corporation, HOLT Cat, Toromont Cat, T.D.Williamson, Santee Cooper and United Water.
UL Solutions Market Opportunities, M&A and Geo Expansions
In October 2021, UL signed a memorandum of understanding (MOU) with Razer, a leading lifestyle brand for gamers. The MOU establishes a framework for a collaborative effort between UL and Razer to take definitive action toward achieving Razer’s fundamental circular economy goals.
In March 2021, UL and Fire TS Laboratory have announced a data acceptance agreement that establishes Fire TS Laboratory as a recognised test laboratory for testing and certification for UL’s Mark for Australia and New Zealand. Through the agreement, product evaluation data generated by Fire TS Laboratory will now be accepted for the issuance of UL’s product certification for Australia and New Zealand.
The new platform will help ensure more comprehensive reporting for companies, investors and cities for enhanced peer-to-peer comparison and decision-making. With the global demand for better, more accurate and faster disclosure, the fully integrated PURE software system will enable disclosers to assess more clearly how they are transitioning to a low carbon economy.
UL Solutions Risks and Challenges
Potential risks for the company could be related to regulatory changes or legal challenges. Given that UL Solutions is involved in safety certifications, changes in industry regulations, standards, or legal requirements could impact their operations. This might include changes in product safety standards, environmental regulations, or compliance requirements. Additionally, economic factors, such as a downturn in the economy, can affect companies providing testing and certification services. Economic fluctuations may lead to reduced demand for testing services as businesses may cut costs during tough times.
PureSafety's future rests with the parent company's plan to extend its technology footprint.
UL Solutions Ecosystem, Partners, Resellers and SI
UL Solutions opened a new Laboratory in Querétaro, Mexico in mid-2022. The facility will be one of the first multi-national labs for engineering and testing for product safety and performance for the Mexico market and export to the United States, Canada, and countries throughout Latin America.
In October 2021, UL officially opened a cables fire safety and performance laboratory. The facility, located in the Industrial City of Abu Dhabi (ICAD), allows manufacturers, brands and suppliers of electrical and optical cables and busways from throughout the Middle East to access a local laboratory for fire safety. Staffed with UL’s industry-leading experts and designed to test flame-retardant and fire-resistant cables, fire alarm cables, building wires with fire resistance ratings, fibre optic component cables with fire resistance ratings and busways, the new fire safety laboratory will accommodate tests to multiple standards for flame retardant and fire resistance properties.
UL serves clients in more than 100 countries. In June 2018, CDP Software named UL as a Gold-level Partner. The same year UL and TK’Blue partnered, with a purpose to deliver more comprehensive solutions for European companies which are transitioning to a low carbon economy.
UL Solutions Cloud Platform (PaaS) and Infrastructure (IaaS) Details
Subscribe to read more about:
- UL Solutions Public Cloud and Infrastructure (IaaS)
- UL Solutions Platform (PaaS)
- UL Solutions Application Delivery
- UL Solutions Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
https://www.appsruntheworld.com/taxonomy
https://www.appsruntheworld.com/FAQ
