Global Environment Health Safety Market Report 2022: Proliferation of the Software-As-A-Service Deployment Model Presents Opportunities
DUBLIN, Feb. 21, 2023 /PRNewswire/ -- The "Global Environment Health Safety Market, By Component, By Application, By Industry, By Enterprise Size, By Deployment, Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
The global environment health safety market held a market value of USD 6,210.51 million in 2021 and is estimated to reach USD 13,565.23 million by the year 2030. The market is projected to list a CAGR of 7.64% during the forecast period.
Over the course of the forecast period, increasing government laws for environmental protection, particularly in the U.S. and Europe, are anticipated to boost the growth of the environmental health and safety (EHS) market.
Over the past few decades, increasing public concern about environmental issues has resulted in significant changes to the laws governing how corporations affect the environment. The main factor promoting growth is the expansion of government rules in various economies. Industries that deal with hazardous commodities, such energy and chemicals, use environment health and safety services and software to prevent workplace mishaps.
Demand for software and services for emission control, water conservation, waste management, employee safety, monitoring, and numerous other environmental health and safety parameters has rapidly increased as a result of the existence of strict regulations pertaining to environmental protection and occupational health and safety.
Growth Influencers:
Increase in government initiatives to introduce safety and environmental regulations
Due to the sheer number of IT firms and because the Environmental Protection Agency (EPA) has such strict requirements, it is predicted that the need for environment health and safety software would increase quickly. Companies around the nation are boosting their investments in order to improve operational effectiveness and follow the standards set by the Occupational Safety and Health Administration (OSHA). Additionally, the presence of EHS service providers like AECOM Technology Corporation, Tetra Tech, Enablon, and Velocity EHS may help raise awareness, which will likely lead to market expansion.
Businesses operating in the U.S., Canada, the U.K., and Australia are required to adhere to stringent standards for the treatment of industrial waste and the disposal of wastewater, such as those set forth by the National Pollutant Release Inventory (NPRI) in Canada, the Toxics Release Inventory (TRI) in the U.S., and the National Pollutant Inventory (NPI) in Australia. Growth in the environment, health, and safety market is anticipated to be fueled by the establishment of these strict standards over the forecast period.
Proliferation of the software-as-a-service deployment model
The Resource Conservation and Recovery Act and the Comprehensive Environmental Response Compensation and Liability Act, for example, are environmental standards that are met by firms using the EHS services and software. The EHS software's features connect the TRI-MEweb interface of the EPA to the emissions data. The strict guidelines created by the Environment Canada/CEPA, EPA/RCRA, and European Hazardous Waste Directive are anticipated to increase demand for EHS software. The high usage of the SaaS model is boosting the market growth.
Segments Overview:
The global environment health safety market is segmented into component, application, industry, enterprise size, and deployment.
By Component
- Software
- Services
The software segment held an opportunity of more than USD 4,000 million from 2022 to 2030.
By Application
- Environmental
- Occupational Health & Safety
- Community Health & Safety
- Construction & Decommissioning
- Others
The environment segment held more than 44% of the market share in 2021. The occupational health & safety segment was estimated to grow at the highest CAGR of 9.5% over the anticipated period. It is projected that the capabilities of environment health and safety services and software to help businesses streamline their waste management process will increase demand for these products. Users are quickly becoming more and more accustomed to the EHS applications enabled by smartphones and tablets. The development of EHS mobile applications with features including auditing, reporting incidents, and access to health and safety data on chemicals, inspections, and other topics is ongoing.
By Industry
- Manufacturing
- Agriculture
- Transportation
- Construction
- Energy & Mining
- Retail
- Healthcare
- Chemical & Pharmaceuticals
- Oil & Gas
- Food & Beverage Processing
- Others
The chemical and pharmaceutical segment is projected to cross the mark of USD 2,000 million by 2026 in terms of revenue.
By Enterprise Size
- SMEs
- Large Enterprises
The large enterprise segment held approximately 70% of the market share in 2021.
By Deployment
- On-premises
- Cloud
The cloud segment is estimated to grow the highest over the forecast period with a growth rate of 9.5%.
Regional Overview
By region, the global environment health safety market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and South America. The North American environment health safety industry held the largest market share of more than 32% in 2021, with a revenue of USD 2,103.9 million. The Asia Pacific market was projected to be the fastest growing with a CAGR of more than 10%.
The global environment health safety market report answers questions such as:
- What is the market size and forecast of the global environment health safety market?
- What are the inhibiting factors and impact of COVID-19 on the global environment health safety market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the global environment health safety market?
- What is the competitive strategic window for opportunities in the global environment health safety market?
- What are the technology trends and regulatory frameworks in the global environment health safety market?
- What is the market share of the leading players in the global environment health safety market?
- What modes and strategic moves are considered favorable for entering the global environment health safety market?
A selection of companies mentioned in this report includes
- AECOM Corp
- Jacobs (CH2M HILL, Inc)
- Cority Software Inc.
- Dakota Software Inc
- DNV GL
- Enablon Corp.
- ENVIANCE
- Intelex Technologies Inc.
- ProcessMAP
- Sphera
- Tetra Tech, Inc
- Velocity EHS Holdings Inc.
For more information about this report visit https://www.researchandmarkets.com/r/uipif
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