The global environment health & safety market size was valued at US$ 6.2 billion in 2021 and is expected to hit US$ 10.85 billion by 2030, growing with a CAGR of 7.5% over the forecast period 2021 to 2030.
The ability of the environment health and safety services and software to help the companies in efficiently managing the wastes produced will fuel the market growth. Additionally, the popularity and the environment health and safetymobile application are rapidly increasing and this is expected to drive the growth of the environment health and safety market.
The presence of strict rule and regulations related to the protection of environment and occupational health and safety has led to the surge in the demand for the environment health & safety services that help in monitoring various services such as water conservation, waste management, employee safety, monitoring, emission control and many others.
In the past decade, there has been a massive increase in demand for the environment health and safety software by diverse end user industry verticals such as chemicals and materials, healthcare, construction, energy and utilities and engineering. For instance, On 30th September 2021, Quentic announced that it has strengthened the application for hazardous chemical management. The online solution for integrated HSEQ management has expanded inspection rules for hazardous good groupings to include independently configurable storage classes. Moreover, the rise in number of accidents in the mining, oil and gas, and chemical plants is the factor that is driving the demand for the use of environment health and safety systems.
Also, the increasing awareness about the environment health and safety are motivating the organization to deploy these systems. Additionally, the cost effective pay-as-you-go pricing model is significantly impacting the enterprises to implement the environment health and safety systems at their workplaces. All these attributes are anticipated to fuel the growth of the environment health and safety market.
Based on the products, the services segment is expected to lead the market with the highest market share owing to the increasing penetration of the safety systems in the mining and energy industry. Some of the services provided by the Environment Health & Safety systems include waste management, water quality, compliance program development and implementation, process safety evaluations and management and EHS consulting services. The services furnished help the mining industry by providing the regulatory and technical advice during the process of drilling and exploration. Additionally, they also provide information that will help in improving the exploration process and produce better results with low environmental effect. Furthermore, the Environment Health & Safety systems help the companies in the discharge of their industrial and radioactive wastes.
The service segment offers a wide range of services such as compliance management, chemical management, training management, incident management, audit and inspection, management change, water quality, waste compliance, safety meetings, performance metrics, risk analysis, air emission measurement, ergonomics, and corrective actions. Also, to meet the specific requirements of the clients the services providers offer customized software solutions to their clients as per requirement.
Based on the End-use Industry, the manufacturing industry is anticipated to witness highest market share growing at a CAGR of 6.2% during the forecast period owing to the increasing demand for the utility systems, data centers, cybersecurity systems, industrial water, and wastewater treatment plants, and solid waste landfills. Also, in the developing economies the manufacturingindustry grows at a significant rate and this factor is expected to drive the growth of the market.
In the construction sector, the Environment Health & Safety system guides the constructioncompanies in designing energy-efficient building models, maximizing and integrating local microclimates effectively, upgrading outdated building systems and reducing the waste generated.
In the healthcare sector, in order to supervise facilities and laboratories, to ensure the safety of the workers from biohazards the Environment Health & Safety systems are deployed. They provide services such as hospital risk assessment, regulatory training, medical waste management, compliance and safety assessment.This attributesare expected to fuel the market growth.
North America holds a significant market share for the market and is estimated to dominate the market during the forecast period. The earliest adoption of advanced technologies and safety solutionin the U.S. and Canada is the major factor that boosts the market growth in this region. Moreover, the presence of the major market players in this region is yet another attribute that is expected to drive the growth of the Environment Health & Safety market.
Asia Pacific region is expected to witness the highest growth during the forecast period owing to the presence of flourishing economies such as India, China, Japan, Singapore and South Korea. China is expected to contribute the largest market in this region owing to its rapid industrial development and the Government regulations to follow the stringent safety regulations.
The presence of strict rules and regulation for maintaining Environment Health & Safety standards in the European region will drive the market growth in this region. For instance, Ideagen a UK based global technology company is planning an acquisition strategy to expand its business in UK and all over the world. The expansion of the company will be funded by Santander UK and NatWest. At present, Ideagen has its presence in 150 countries and on receiving the additional financial support it is planning to capture the markets all over the world.Also, the presence of various agencies such as The European Agency for Safety and Health at Work (EU-OSHA) and the Environment Agency (EA) constantly monitoring the health and safety standards will influence the growth of the Environment Health & Safety market.
Key Companies Profiled
The global Environment Health & Safety Marketis characterized by the presence of various small and big players. The major market player includes VelocityEHS, Enablon, Intelex, Cority, Gensuite, Sphera, SAI Global, Quentic, UL, Alcumus, SHE Software, VisiumKMS, Ideagen, EcoOnline, ETQ, Dakota Software, ProcessMap, SafetyCulture, ProntoForms, Verisk 3E, Enhesa, SAP, IsoMetrix, SHEQX, Pro-Sapien, SafeSite and ComplianceQuest Inc. As the market is competitive in nature, the players are indulged in rapid adoption of advanced technologies to improve the safety measures and in raising their competitive share by means of strategic initiatives like mergers, new product and acquisitions.
Scope of the Environment Health and Safety Market Report
|Market Size||USD 10.85 Billion by 2030|
|Growth Rate||CAGR of 7.5% from 2021 to 2030|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2021 to 2030|
|Segments Mentioned||Product, End Use, Region|
|Companies Covered||VelocityEHS, Enablon, Intelex, Cority, Gensuite, Sphera, SAI Global, Quentic, UL, Alcumus, SHE Software, VisiumKMS, Ideagen, EcoOnline, ETQ, Dakota Software, ProcessMap, SafetyCulture|
Segments Covered in the Report
By End Use
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