Environmental Health & Safety (EHS) Market
Environmental Health & Safety (EHS) Market (Software Type: Quality and Risk Assessment Software, Data Analytics Software, Cost Management Software, Environmental Compliance Software, Energy and Carbon Management Software, and Others; Services Type: Consulting, Project Management, Analytics, Training, Implementation, Auditing, Certification) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Press Release :
Environmental health & safety tools are primarily used by companies to adhere with the environmental regulations and norms concerned with occupational and environmental health & safety. Over the past four decades, a large number of EHS regulations has been implemented across major industrialized economies such as North America and Europe. After the global financial crisis in 2008, implementation of robust and costly EHS monitoring tools has been affected greatly. Yet there has been a significant imposition of regulations that has collectively increased the spending on improved information management systems. The global EHS market is expected to expand at a CAGR of 12.0% from 2016 to 2024, reaching US$ 8,315.1.0 Mn by 2024.
The implementation of EHS tools has been witnessing prominent growth owing to a rise in corporate investment across EHS software platforms. Furthermore, multiple statutory and legal requirements to maintain EHS safety standards have surged the deployment of EHS across major industry verticals such as chemicals and petrochemicals, construction, and energy and mining. Moreover, continued industrial growth in developing economies such as China, India, South Africa, and the UAE is encouraging EHS adoption. This has significantly affected the market for EHS to exhibit growth across developing nations. However, there are certain restraints harnessing the EHS market’s growth, such as potentially costly solutions and services to comply with EHS regulations and the expenditures incurred in auditing for complex sites.
The EHS market is segmented on the basis of components, end-use industry, and geography. The components segment can be further classified on the basis of software solutions and the services offered. The different types of software solutions associated with EHS include quality and risk assessment software, data analytics software, cost management software, environmental compliance software, energy and carbon management software, and others. The EHS service segmentation includes consulting services, project management, analytics, training, implementation, auditing, and certification. Key end-use industries implementing EHS software and services covered in this report are chemical & petrochemical, energy & mining, construction, agriculture, transportation, manufacturing, government & public sector, retail, healthcare and others. Based on geography, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North America recorded the greatest implementation of EHS in terms of software and services, and the region is expected to dominate the EHS market at the highest CAGR of 13.2% from 2016 to 2024. This high growth rate is anticipated due to the development of end-use industry infrastructure across the U.S. Moreover, rising awareness in terms of adherence to environmental regulations, has further strengthened the North American EHS market.
Market players profiled in the report are prominent players in the field of software development along with major non-profit and consulting organizations. They include IHS Inc., 3E Company, International Finance Corporation, Enablon North America Corporation, SAP SE, UL LLC, and Medgate Inc.
Environmental health & safety system is mainly used by the companies to ensure employee safety and well-being at the workplace and to monitor environmental balance. The governing bodies and regional federal agencies are proactively implementing EHS across various industry verticals in order to adhere with environmental and occupational safety standards. The software solutions encompassed under EHS include quality & risk assessment, data analytics, cost management, environmental compliance, energy & carbon management and others. Furthermore, the different EHS services include consulting, project management, analytics, training, implementation, auditing and certification. The rising awareness for workplace and employee safety coupled with increasing efforts towards environmental safety have led the EHS market to grow at a substantial pace. The EHS market is expected to advance at a CAGR of 12.0% from 2016 to 2024 evaluating at a market size of US$ 8,315.1 Mn in 2024, up from US$ 3,009.0 Mn in 2015.
This research study, titled “Environmental Health & Safety (EHS) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2024,” provides strategic analysis of the global environmental health and safety market, along with the market growth (size in US$ Mn) forecast for the period from 2016 to 2024. The report includes an in-depth analysis of the market drivers, restraints, and industry trends. It also highlights the growth opportunities for EHS services in the next few years.
The research report provides a comprehensive assessment of stakeholder strategies, and the imperatives for success in the EHS market. The report also includes competitive analysis of various market segments based on components covering software and services of EHS, and in-depth cross-sectional analysis across different geographical segments of the EHS market. In order to aid in strategic decision-making, the report includes the winning strategies adopted by key players. The report segregates the EHS market geographically into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
For a detailed understanding of the EHS market, all these segments have also been estimated in terms of revenue (US$ Mn) for the geographies mentioned above. The market research study analyzes the EHS market worldwide, and provides historical revenue estimates in terms of US$ Mn for 2014 and 2015, along with the market forecast for the period 2016 to 2024. Market forecasts have been analyzed considering the impact of various economic, political, social, legal, operational, and technological factors influencing market growth.
The EHS market is segmented as follows.
Environmental Health & Safety Market, by Components
- Quality & Risk Assessment
- Data Analytics
- Cost Management
- Environmental Compliance
- Energy & Carbon Management
- Project Management
Environmental Health & Safety Market, by End-use Industry
- Chemical & Petrochemical
- Energy & Mining
- Government & Public Sector
Environmental Health & Safety Market, by Geography
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia-Pacific (APAC)
- South Asia
- Rest of APAC
- Middle East and Africa (MEA)
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America