Environment Health & Safety Market Report
Environment Health & Safety Market by Product (Software and Services), Deployment Mode (Cloud and On-Premises), End-use Industry (Chemical & Petrochemical, Energy & Mining, Healthcare, Telecom & IT, Construction, Manufacturing, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Environment Health & Safety Overview
Environment health & safety (EHS) is a field of study that prioritizes preserving the natural environment, safeguarding people’s health and safety, and encouraging sustainable business practises. To develop a safe and sustainable work environment, it entails recognizing and reducing potential dangers, adhering to rules, and putting policies and programmes in place. EHS seeks to reduce the harm that human activity causes to the environment. This includes dealing with problems including waste management, energy efficiency, air & water pollution, and the preservation of natural resources. Organizations take action to handle hazardous materials, cut back on emissions, and support sustainability efforts.
Global Environment Health & Safety Market Analysis
The global environment health & safety market size was $6,800.5 million in 2022 and is predicted to grow at a CAGR of 7.1%, by generating a revenue of $13,498.2 million by 2032.
COVID-19 Impact on Global Environment Health & Safety Market
The pandemic has raised awareness of occupational health and safety procedures across a range of businesses. Strict processes were put in place by organizations to safeguard staff members and stop the virus from spreading. The demand for EHS products and services, like as risk assessment tools, workplace monitoring systems, and employee health management software, has surged as a result of the increased focus on health and safety.
Adoption of digital solutions in the field of EHS was spurred by the epidemic. As businesses realize how useful technology is for expediting EHS procedures, strengthening data management and analysis, and fostering communication & collaboration, this trend is predicted to persist. Besides, mobile applications, cloud-based systems, and digital platforms will all have a big impact on how quickly the EHS industry expands in the coming years.
Regulatory Compliance to Drive the Market Growth
The need for EHS solutions is driven by strict environmental and occupational health & safety requirements. Governments of various countries across the world set rules to safeguard worker safety, protect the environment, and promote sustainable practises. Compliance with these standards is essential for businesses to avoid fines, reputational harm, and legal liability. Concern and awareness about sustainability and its effects on the environment and society are developing. Organizations are becoming more aware of the necessity of implementing sustainable practises to lessen their ecological impact, conserve resources, and satisfy stakeholder demands. EHS solutions are essential for assisting businesses in minimizing their environmental effect and monitoring their performance in this area. All these factors are driving the growth of the global environment health & safety market.
Lack of Awareness and Understanding to Restrain Market Growth
The resources that organizations have available to engage in EHS projects may be constrained by economic downturns and financial limitations. Organizations may prioritize cost-cutting measures and postpone investments in EHS programmes and solutions during times of economic instability. The value of EHS and its potential advantages may not be fully understood by some organizations. They might not fully understand the long-term benefits of making investments in EHS measures, which can obstruct the implementation of all-inclusive EHS programmes. Changes in organizational culture, procedures, and systems are frequently necessary to implement EHS practises. Employee, management, or stakeholder’s resistance to change might prevent the adoption and execution of successful EHS strategies. For EHS integration to be successful, it is essential to get key stakeholders’ support and overcome their opposition.
Integration of EHS with Digital Transformation to Drive Excellent Opportunities
The environment health & safety market has a tonne of prospects as a result of the growing digital transformation. Organizations are becoming more conscious of the dangers posed by the global supply networks. EHS service providers may help businesses identify and reduce risks throughout the supply chain, ensure supplier compliance, and improve supply chain resilience. Significant growth potential exists for solutions that facilitate efficient supplier audits, supply chain risk management, and ethical sourcing. Investors, consumers, and regulators are beginning to place more weight on environmental, social, and governance (ESG) factors. By providing effective solutions for monitoring, managing, and reporting sustainability performance, EHS suppliers may profit from this trend. There will be a considerable need for EHS software and technologies that support ESG reporting, carbon footprint calculations, and supply chain transparency. All these factors are predicted to create massive growth opportunities for the global market during the forecast period.
Global Environment Health & Safety Market Share, by Product, 2022
The software sub-segment accounted for the highest share in 2022. EHS software streamlines compliance management procedures to assist organizations in navigating complicated regulatory obligations. In order to maintain compliance with environmental, health, and safety requirements, it helps businesses to track and manage permits, licences, and regulatory changes. EHS software offers resources for performing risk analysis, locating potential hazards, and determining how they will affect the organization. Organisations can use these solutions to prioritize risks, create mitigation plans, and monitor the application of control measures. The effective analysis and management of hazards is a crucial factor in the growth of EHS software.
Global Environment Health & Safety Market Share, by Deployment Mode, 2022
The cloud sub-segment accounted for the highest market size in 2022. Scalability is a feature of cloud-based EHS solutions that enables businesses to easily increase or decrease their EHS capabilities in accordance with their requirements. Organizations can modify their EHS systems using cloud infrastructure without having to make large infrastructure expenditures or changes in order to accommodate growth, new sites, or changing requirements.
Global Environment Health & Safety Market Share, by End-use Industry, 2022
The chemical & petrochemical sub-segment accounted for the highest market share in 2022. In the chemical and petrochemical sectors, where mistakes can have serious repercussions, process safety is essential. By easing hazard identification, risk assessment, and the application of control measures, EHS solutions aid in managing process safety. These solutions assist with incident investigations, process safety audits, and in recording safety protocols.
Global Environment Health & Safety Market Share, by Region, 2022
The North America environment health & safety market accounted for the highest market share in 2022. EHS procedures are governed by a strong regulatory system in the region, While organizations in Canada are required to abide by regulations from organizations like Health Canada and Environment & Climate Change Canada, EHS regulations are set and enforced by organizations like the Occupational Safety and Health Administration (OSHA) and the Environmental Protection Agency (EPA) in the United States. The adoption of EHS solutions and services is fueled by the tight enforcement of regulations.
Competitive Scenario in the Global Environment Health & Safety Market
Product development and geographic expansion are the common strategies followed by major market players. For instance, Velocity EHS, a cloud-based environmental, safety, and health (EHS) software vendor, introduced the Velocity EHS Accelerate Platform in 2021. The environment, health, and safety (EHS) software adoption process will change as a result of the Velocity EHS Accelerate Platform. Some of the leading environment health & safety market players are AECOM, ERM Group, Inc, Jacobs, VelocityEHS, Intelex Technologies, SGS SA., Enablon, SAP SE, Tetra Tech, Inc, and Golder Associates.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, and LAMEA
Segmentation by Product
Segmentation by Deployment Mode
Segmentation by End-use Industry
Key Companies Profiled
Q1. What is the size of the environment health & safety market?
A. The size of the environment health & safety market was over $6,800.5 million in 2022 and is expected to reach up to $13,498.2 million by 2032.
Q2. Which are the major companies in the environment health & safety market?
A. Jacobs and AECOM are some of the key players in the global environment health & safety market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What are the strategies opted by the leading players in this market?
A. Product development and geographic expansion are the two key strategies opted by the operating companies in this market.
Q5. Which companies are investing more on R&D practices?
A. Jacobs and AECOM are the companies investing more on R&D activities.