Environment Health And Safety Market Size, Growth, Report 2030

The global environment health & safety market size was exhibited at USD 6.65 billion in 2022 and is expected to be worth around USD 11.87 billion by 2030, registering a CAGR of 7.5% from 2022 to 2030.

Environment Health & Safety is the system that is primarily used by employers to ensure the well-being and safety of the employees at the workplace and to maintain the environmental balance. In order to adhere to the occupational and environmental safety standards the governing bodies and the regional agencies are proactively engaging the Environment Health & Safety systems across diverse industry verticals. The solution that may be included in the Environment Health & Safety systems includes cost management, environmental compliance, quality & risk assessment, data analytics, and energy & carbon management. Moreover, some of the Environment Health & Safety services include training, implementation, auditing, consulting, project management, analytics, and certification. 

Crucial Factors Accountable for Market Growth are:

• The rise in demand for the Environment Health & Safety in the mining and energy sector.
• Stringent Government norms to deploy Environment Health & Safety systems in the organizations.
• The cost-effective pricing model of the Environment Health & Safety systems.
• The efficient way of handling the wastes produced by the industries using Environment Health & Safety systems.
• The surge in accidents in the oil & gas and chemical plants.

Environment Health and Safety Market Report Scope

Report Highlights

• Asia Pacific region is expected to grow at the highest CAGR during the forecast period owing to the presence of flourishing economies with rapid industrialization.
• The stringent rules and regulations regarding the safety of the workers and the environment will boost market growth.
• The increase in the number of accidents in the mining and chemical plants has accelerated the need to implement Environment Health & Safety systems that will ensure the workers' safety and protect the environment. 
• By Geography, North America leads the Environment Health & Safety Market by revenue share because of the presence of major market players in this region.

Market Dynamics

Driver

Environment Health & Safety software solutions ensure the health and safety of the workers as well as the environment. This factor is expected to significantly contribute towards the market growth. Furthermore, the presence of strict Government norms to ensure the Environment's Health & Safety is estimated to drive the market growth. For instance, on June 2021, Velocity EHS announced the launch of a new platform Velocity EHS Accelerate. This platform is designed to amplify the performance of health, safety, risk, environmental, social, and cooperative governance, and operational excellence. This will act as a driving factor for the growth of the Environment Health & Safety market.

Restraint

The major growth of the environmental health & safety market includes the high cost involved in the implementation and installation of Environment Health & Safety systems and the need for frequent maintenance. 

Opportunity

With the advancements in technologies, the users of Environment Health & Safety systems are now able to integrate the health and safety systems with artificial intelligence and this will help in efficiently monitoring and managing the health and safety systems that will reduce the risk of any uncertain events which may negatively impact the workers and harm the environment. 

Challenges

The high cost of equipment development is one of the major challenges encountered by the Environment Health & Safety Market. Furthermore, the absence of strict Government regulations in developing or underdeveloped countries is some of the challenges faced by the Environment Health & Safety Market. 

Regional Snapshots

Asia Pacific region is expected to witness the highest growth owing to the rapid industrialization in this region. Europe is expected to grow significantly during the forecast period due to the presence of regulatory authorities such as The European Agency for Safety and Health at Work (EU-OSHA) and the Environment Agency (EA) that strictly monitors Environment Health & Safety concerns.

North America is estimated to dominate the Environment Health & Safety market owing to the presence of major market players in the region and also due to the early adoption of advanced technologies and safety solutions.

Recent Developments

• In March 2021, Enablon announced its partnership with EY to launch an ESG management and reporting solution. This will provide end-to-end reporting and management of ESG data.
• In April 2021, Intelex developed a new connected safety solution HazardIQ. This platform uses the latest technologies to maintain the safety of the workers and risk management by creating greater efficiency, enhancing safety protection, and optimizing industrial hygiene.
• In May 2021, Cority announced the acquisition of responsible business management software by WeSustain. This will help Certify to increase demand for digitizing and scaling ESG products.
• In February 2021, Sphera has announced the release of a PPE for its control of work solution, which will help to streamline PPE management. It's a SaaS (Software as a Service) solution.

Key Companies Profiled

The Global Environment Health & Safety Market is 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 safety measures and in raising their competitive share by means of strategic initiatives like mergers, new products, and acquisitions.

Segments Covered in the Report

By Product

• Software
• Services
  • Analytics
  • Project Deployment and Implementation
  • Business Consulting and Advisory
  • Audit, Assessment and Regulatory Compliance
  • Certification
  • Training and support

By End Use

• Energy and Utilities
• Chemicals and Materials
• Healthcare
• Construction and Engineering
• Food and Beverage
• Government and Defence
• Others (Telecom and IT, Automotive, and Retail)

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