Environmental Health & Safety Market Forecast | 2023-2028

Market Insights

The environmental health & safety (EHS) market is estimated to grow from USD 6.39 billion in 2022 to USD 9.61 billion by 2028 at a CAGR of 7.0% during the forecast period.

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What is environmental health and safety (EHS)?

Environment health and safety or EHS, is an acronym for the group that studies and implements practical aspects of environmental protection as well as occupational health and safety. In a nutshell, it is what organizations do to ensure that their activities do not harm anyone.

COVID-19 Impact on EHS Market

Key Players

The following are some of the key players operating in the environmental health and safety (EHS) market are-

• Intelex (US)
• Sphera (US)
• VelocityEHS (US)
• Enablon (France)
• Cority US)
• Gensuite (US)
• SAI Global (US)
• Quentic (Germany)
• UL (US)
• Alcumus (UK)
• SHE Software (UK)
• VisiumKMS (US)
• Ideagen (UK)
• EcoOnline (Ireland)
• ETQ(US)
• Dakota Software (US)

Market Dynamics

The environmental health and safety market is driven by a host of factors, some of which are noted below:

• Increased government initiatives to ensure that certain workplace safety and environmental regulations and standards are followed.
• Ehs software solutions assist organizations in protecting their employees' health and safety, as well as the environment—the natural world in which they live.
• Ehs software solutions have a high price tag.
• Businesses in low-income countries are slow to adopt Ehs software solutions.
• High software implementation and installation costs are expected to stymie market growth. 
• Technological advancements are assisting various industries in achieving worker engagement and implementing environmental, health, safety, and quality programs.

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Segment Analysis

Component Trends

The market has been bifurcated into Software, Services. The Services segment accounted for the largest market share in 2022 & is expected to remain dominant during the forecast period.

Services aim to train and develop expertise, provide timely software or platform upgrades, and assist customers in integrating their software or platform with other Information Technology (IT) solutions.

Deployment Mode Trends

The market has been bifurcated into on-premises & cloud, Under these, the cloud segment occupied a significant share of the market in 2022 & is expected to grow at a robust CAGR during the forecast period. 

Owing to its low cost and ease of installation, the cloud is expected to become a popular delivery mechanism among large corporations and SMEs. SMEs are more inclined to employ cloud-based solutions than on-premises solutions because of the low cost and round-the-clock support and maintenance provided by software vendors.

Cloud software is stored on a server owned by a different supplier. End customers can access both the program and the data online because SaaS and cloud-based software are tightly associated. Dropbox, Office 365, and Google Docs, for example, are examples of cloud software. The cloud software companies hosting data services own and maintain the infrastructure. EHS departments benefit greatly from the ability to conduct audits and inspections remotely rather than visiting each location.

Vertical Trends

The market has been classified into energy and utilities, chemicals and materials, healthcare, construction and engineering, food and beverage, government and defense, & others. The energy and utilities segment accounted for the highest share of the environmental health and safety (EHS) market in 2022.

Due to increased knowledge of EHS rules, regulations, and standards, the energy and utilities vertical has seen substantial adoption of environment, health, and safety software solutions. Historically, occupational health risks were measured in terms of immediate accidents, particularly mortality rates. Today, the emphasis has shifted to the long-term impacts of cancer-causing chemicals and radiation exposure, leading to growing adoption in energy and utilities.

Regional Insight

APAC is expected to dominate the overall market. Asia Pacific is home to thriving economies such as Singapore, Japan, China, India, and Australia, all of which are expected to experience rapid growth in the environmental health & safety market. During the forecast period, it is expected to have the highest CAGR.

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• China has experienced tremendous industrial growth and is now the world's manufacturing capital.
• Its government is becoming more stringent in terms of EHS regulations and compliance.
• The Social Science Research Council (SSRC) launched the China Environment and Health Initiative, which aims to generate new research on the relationship between health, environment, and development in China.

Segmentation

The market is segmented into the following categories.

By Component

• Software
• Services

By Deployment Mode

• On-premises,
• Cloud

By Vertical

• Energy and Utilities
• Chemicals and Materials
• Healthcare
• Construction and Engineering
• Food and Beverage
• Government and Defense

By Region:

• North America (Country: the USA, Canada, and Mexico) 
• Europe (Country: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region: Latin America, the Middle East, and Others)

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Target Audience

The target audience of environment health and safety market includes-

• Distributors
• Suppliers
• Manufacturers
• Hospitals

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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