NEW
YORK, June 25, 2024 /PRNewswire/ -- The global
environment health and safety (EHS) market size is estimated
to grow by USD 3.93 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 9.68% during the forecast
period. Increase in government initiatives to strengthen
ehs compliance is driving market growth, with a trend
towards shifting focus from detection to prevention of
hazards. However, need for high initial capital investments
for ehs software poses a challenge. Key market players
include AECOM, AMEC Europe LTD., Benchmark Digital Partners LLC,
Cority Software Inc., Enhesa NV, Fortive Corp., Hexagon AB,
International Business Machines Corp., Johnson Controls
International Plc., ProcessMAP Corp., SAP SE, SGS SA, Sphera
Solutions Inc., Tetra Tech Inc., Vector Solutions, VelocityEHS
Holdings Inc., Verisk Analytics Inc., W. R. Grace and Co., WSP
Global Inc., and Wolters Kluwer NV.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Deployment (On-premises
and Cloud based), End-user (Energy and utilities, Chemicals and
materials, Healthcare, Construction and engineering, and Others),
and Geography (North America, APAC, Europe, South America, and
Middle East and Africa)
|
Region
Covered
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
AECOM, AMEC Europe
LTD., Benchmark Digital Partners LLC, Cority Software Inc., Enhesa
NV, Fortive Corp., Hexagon AB, International Business Machines
Corp., Johnson Controls International Plc., ProcessMAP Corp., SAP
SE, SGS SA, Sphera Solutions Inc., Tetra Tech Inc., Vector
Solutions, VelocityEHS Holdings Inc., Verisk Analytics Inc., W. R.
Grace and Co., WSP Global Inc., and Wolters Kluwer NV
|
Key Market Trends Fueling Growth
The EHS market is experiencing growth due to the heightened
focus on risk mitigation in workplaces worldwide. With an increase
in work-related injuries and fatalities, such as the 5.7% rise in
the US in 2023, companies are investing more in accident
prevention. A proactive approach to safety management leads to
fewer incidents, lower long-term costs, and measurable returns,
particularly for industries with numerous daily hazards. This trend
necessitates EHS software vendors to adapt, creating new market
opportunities.
The Environment, Health and Safety (EHS) market is experiencing
significant growth due to increasing awareness and regulations.
Operational excellence and provision of a safe work environment are
key priorities for businesses. Providers of EHS solutions offer
services like risk assessment, training, and software solutions.
These solutions help companies manage and mitigate risks, ensure
regulatory compliance, and improve overall safety. The use of
technology, such as IoT sensors and AI, is a trend in the EHS
market, enabling real-time monitoring and predictive analysis.
Additionally, the market is seeing an increase in demand for
contract services, particularly in industries with high risk
profiles. Employing EHS best practices not only benefits workers
but also enhances corporate reputation and reduces potential legal
liabilities.
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Market Challenges
- Small and medium-sized enterprises (SMEs) and large industries
encounter significant barriers in implementing EHS software due to
high initial costs and ERP system integration issues. The capital
required for EHS infrastructure investments restricts market
expansion. Integrating EHS software with ERP systems is beneficial,
as EHS standards impact most enterprise operations. However, the
challenge lies in aligning IT infrastructure with EHS software,
which may hinder EHS software adoption and market growth.
- The Environment, Health and Safety (EHS) market faces several
challenges in implementing and enforcing effective protocols.
Consuls and projects require consistent compliance with regulations
such as Harmonic, Incidentals, and Environmental regulations. The
complexity of these regulations can make it difficult for companies
to keep up. Additionally, the need for continuous improvement and
updating of EHS practices adds to the challenge. The use of
technology, such as sensors and automation, can help streamline
processes and ensure compliance. However, the cost of implementing
and maintaining these technologies can be a barrier for some
organizations. Furthermore, the need for employee training and
engagement in EHS practices is crucial but can be a challenge due
to varying levels of awareness and commitment. Overall, the EHS
market requires a proactive and adaptive approach to address these
challenges and ensure a safe and healthy working environment.
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challenges - Download a Sample Report
Segment Overview
This environment health and safety (ehs) market report
extensively covers market segmentation by
- Deployment
- 1.1 On-premises
- 1.2 Cloud based
- End-user
- 2.1 Energy and utilities
- 2.2 Chemicals and materials
- 2.3 Healthcare
- 2.4 Construction and engineering
- 2.5 Others
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 On-premises- The energy and utilities sector is
a significant consumer of Environmental Health and Safety (EHS)
software and services, driven by increasing investments and
stricter compliance standards. Major players include Cority
Software and Intelex Technologies. Countries like China, US, India, France, Spain, and Germany are investing heavily in this
industry. China aims to reduce
energy intensity and carbon emissions by 13.5% and 18%,
respectively, under its 14th Five-Year Plan. Europe also focuses on reducing the industry's
environmental impact, with a target of reducing greenhouse gas
emissions by 55% by 2030. Hazardous energy, a potential danger to
workers, is a significant challenge. Regulatory bodies like OSHA
have implemented standards like Lockout/Tagout practices to
safeguard workers, contributing to the growth of the EHS
market.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The Environment, Health, and Safety (EHS) market encompasses a
range of services and solutions designed to ensure compliance with
environmental protection laws and address public concerns related
to health and safety issues. Key areas of focus include water
quality management, audit and inspection services, air emission
measurement, ergonomics, and corrective actions. EHS service
providers offer consulting services, software solutions such as EHS
software providers Enablon and eVision, and deployment of systems
for various industries like oil & gas, chemical, exploration
& drilling, and mechanical engineering. Energy consumption and
emergency care training are also essential components of EHS
solutions. Companies in this sector help organizations mitigate
environmental issues, prevent pollution incidents like oil &
gas spills, and maintain a safe and healthy work environment.
Market Research Overview
The Environment, Health and Safety (EHS) market encompasses
solutions and services aimed at ensuring workplace safety,
protecting the environment, and promoting employee health. This
market is driven by stringent regulations and growing awareness of
the importance of EHS in various industries. Key areas of focus
include air and water quality monitoring, hazardous material
management, safety training, and incident management. Technological
advancements, such as IoT sensors and AI-powered analytics, are
revolutionizing EHS by enabling real-time monitoring and predictive
maintenance. Additionally, the market is witnessing a shift towards
cloud-based solutions and outsourced services for cost savings and
improved efficiency. Overall, the EHS market is a critical
component of sustainable business practices and is expected to grow
significantly in the coming years.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Deployment
-
- End-user
-
- Energy And Utilities
- Chemicals And Materials
- Healthcare
- Construction And Engineering
- Others
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio