Environment, Health and Safety (EHS) Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Services), By Application (Medical & Pharmaceutical Waste Management, Industrial Waste Management, Wastewater Management, Others), By Vertical, By Region; Segment Forecast, 2022 - 2030
- Published Date:Jan-2022
- Pages: 110
- Format: PDF
- Report ID: PM2178
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global environment, health, and safety (EHS) market was valued at USD 6.37 billion in 2021 and is expected to grow at a CAGR of 7.3% during the forecast period. Factors such as rising guidelines by the government for the deployment of EHS services and solutions, along with growing accidents at oil and gas, mining, and chemical plants is act as chief driving factors for the environment, health, and safety (EHS) market demand. Also, the introduction of cost-effective and innovative software is further supporting the environment, health, and safety market growth as they assist organizations in making well conversant decisions and keeping track of changing environmental situations.
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The arrival of COVID-19 has shown both positive and negative impacts on the environment, health, and wellbeing industry because the imposition of lockdown across various regions has lessened carbon emission globally. COVID-19 has shown a decline in a lot of industrial activities in the short term. The fewer investments in tech consulting and system integration also witnessed a temporary downfall during that period. Thereby, the gradual openings of lockdown for businesses were restarted and recouped their financial losses and meeting the consumer demand the production process will fast that may lead to a higher level of emission. Moreover, various market players are introducing their innovations in the environment, health, and safety market to maintain their positions in the environment, health, and safety (EHS) market. For instance, in August 2020, Velocity EHS introduced its new Safety Management Solution. The software tools are anticipated to offer producers simple ways to finish their essential and challenging environment, health and safety management activities at the time of COVID-19 and post period.
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Industry Dynamics
Growth Drivers
Technological innovations assisting numerous industries in accomplishing employee engagement and adopting safety, health, and quality programs are leading global environmental, health, and safety market growth. The rising number of connected devices is creating opportunities for these effective devices for facilitating manage EHS for boosting its market demand. The connected technology can embrace IIOT for EHS and improve EHS management practices, decreasing the hazardous impact on the atmosphere and risk of injuries among the workforce.
Likewise, AI is also acting as a prime factor for the growth of the EHS space. The major concern for the EHS enterprise is to identify an effective solution that can improve conformity along with decreasing the manual cost and labor. Thereby AI acts as a major role. The adoption of EHS mobile apps facilitates the enterprise to include and finish the tasks and actions, as well as the data is directly associated with the database in a digital form. Big data guarantee the quality of data by automating and enhancing the data collection process.
As per Microsoft and PwC, the deployment of AI can decrease global GHG emissions by 4% in 2030. The amount is corresponding to the 2.4 gigatons equivalent (GTCO2e) of Carbon Dioxide (CO2) emissions equivalent to the 2030 yearly emissions of Japan, Canada, and Australia collectively. Therefore, the penetration of developed technologies is anticipated to fuel the environment, health, and safety (EHS) market demand for EHS software vendors in the approaching years.
Report Segmentation
The market is primarily segmented on the basis of component, application, vertical and region.
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By Component |
By Application |
By Vertical |
By Region |
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Insight by Vertical
The chemical segment is recorded with the largest share in 2021 and is expected to lead the environment, health, and safety market in the forecasting years. As the operations in the chemical industry need the utilization of various components and materials, the least handing mistakes can cause life-threatening and costly outcomes. Thus, EHS solutions are highly deployed in various industries to check the storage and use of hazardous chemicals. This will assist organizations in meeting obligations and evading violation of safety rules. For instance, In April 2019, ChemTel Inc. was acquired by VelocityEHS. The aim of the acquisition is to support the enterprise and reinforce its chemical and Safety Data Sheet (SDS) management platform by integrating ChemTel’s emergency response operations center and hazardous materials transportation consulting services. Thus, these factors may lead the segment dominance globally.
The construction and engineering segment is projected to be the fastest-growing segment across the environment, health, and wellbeing market. Worker safety is necessary for every enterprise; thereby, the rising presence of the highest stakes in the construction and engineering industry is stimulating the segment growth. All organization needs to give their workers proper and skilled training, carry out regular wellbeing assessment, and categorize and eradicate site hazards. Accordingly, the construction and engineering sector comprises five main solutions: audit and inspection, incident management, waste management, compliance management, and on-demand training. EHS software modernizes necessary wellbeing processes, guarantees conformity with authority guidelines, as well as releases the potential of safety data. Furthermore, the software works on lessens the hazardous effect on the ecosystem, people, and society, which, in turn, fuels the segment demand in the forthcoming period.
Geographic Overview
Geographically, Asia Pacific accounts for the highest share in the global market in 2021, owing to China having shown huge industrial growth and is generating capital globally. In addition, the implementation of stringent government regulations for the EHS regulations and compliances is further supporting the regional market growth. For instance, the Social Science Research Council (SSRC) initiated a program known as a ‘China Environment and Health Initiative’ with the aim of making a study on the relationship between health, environment, and development across China. Likewise, nations like India, Japan, and Australia are also taking some initiatives to execute the EHS solutions across the region. For instance, The Government of Australia is also following the Work Health and Safety Act 2011 which comprises all the essential rules and regulations of EHS. Thereby, these factors may lead the region prominence that stimulates the market development.
Moreover, Europe is expected to grow at the highest CAGR across the globe in the approaching year because of the execution of strict environmental regulations. For instance, the Environment Agency (EA) and the European Agency for Safety and Health at Work (EU-OSHA) prepare several laws regarding consumer protection, health & safety, as well as for safeguarding the environment. Thus, these orders may facilitate the deployment of such measures for enhancing the free movement of products and conserving the environment, which, in turn, may fuel the market growth across Europe in the near future.
Competitive Insight
Some of the major players operating the global market include 3E Company, Cority, Dakota Software, Enable North America Corp., Gensuite, HIS Inc., Intelex, International Finance Corp., Medgate Inc ProcessMAP, Quentic, Sai Global, Sap SE, Sphera Solutions, Velocityehs, Verisk 3E.
Environment, Health and Safety Market Report Scope
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Report Attributes |
Details |
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Market size value in 2021 |
USD 6.37 billion |
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Revenue forecast in 2030 |
USD 11.82 billion |
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CAGR |
7.3% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
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Segments covered |
By Component, By Application, By Vertical, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key Companies |
3E Company, Cority, Dakota Software, Enable North America Corp., Gensuite, HIS Inc., Intelex, International Finance Corp., Medgate Inc ProcessMAP, Quentic, Sai Global, Sap SE, Sphera Solutions, Velocityehs, Verisk 3E |
