PUBLISHER: The Business Research Company | PRODUCT CODE: 1435373
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435373
Environmental management involves monitoring and predicting environmental changes while striving to optimize human benefits while minimizing environmental degradation from human activities. Compliance due diligence, on the other hand, entails a thorough investigation of a company's adherence to governmental and non-governmental regulations.
Services in this realm encompass environmental management, compliance, and due diligence. An Environmental Management System (EMS) comprises systems and practices enabling companies to reduce their environmental impact and enhance operational efficiency. This site caters to small enterprises, the private sector, and governmental entities, offering information and resources related to EMS. Applications span across various sectors such as government, utilities, and others, serving industries such as mining, manufacturing, energy, infrastructure, and more.
The environment management, compliance and due diligence market research report is one of a series of new reports from The Business Research Company that provides environment management, compliance and due diligence market statistics, including environment management, compliance, and due diligence industry global market size, regional shares, competitors with a environment management, compliance and due diligence market share, detailed environment management, compliance and due diligence market segments, market trends and opportunities, and any further data you may need to thrive in the environment management, compliance, and due diligence industry. This environment management, compliance and due diligence market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The environment management, compliance and due diligence market size has grown strongly in recent years. It will grow from $9.71 billion in 2023 to $10.28 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth observed in the historical period can be attributed to several factors, including the increase in green initiatives, the evolution of sustainability practices, the implementation of significant environmental policies, the occurrence of disaster incidents and their consequences, and the growing focus on corporate social responsibility (CSR).
The environment management, compliance and due diligence market size is expected to see strong growth in the next few years. It will grow to $13.29 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. Forecasted growth is driven by digital transformation, circular economy focus, regulatory evolution, ESG integration in investments, AI and predictive analytics, and global supply chain transparency. Major trends include public awareness, regulatory stringency, corporate sustainability, risk mitigation, and supply chain sustainability.
The environmental management, compliance, and due diligence market are anticipated to experience growth, driven by the increasing levels of air pollution. Air pollution, caused by both human-made and natural sources, poses threats to human, animal, and plant health. To mitigate this issue, environmental management, compliance, and due diligence practices play a crucial role by identifying potential environmental risks and ensuring adherence to relevant laws and regulations. In 2022, the Pan American Health Organization reported that 99% of the global population breathes air exceeding WHO air quality limits, underscoring the health risks associated with air pollution. This situation emphasizes the importance of environmental management practices, contributing to the growth of this market.
Growing global concerns regarding environmental safety have further fueled the expansion of the environmental management, compliance, and due diligence services market. Increasing public awareness of environmental threats and the rising demands placed on the environment due to population growth are driving the need for environmental scientists and specialists. According to the U.S. Bureau of Labor Statistics, the employment of environmental scientists and specialists is expected to grow by 8% from 2019 to 2029, exceeding the average for all occupations. The market is propelled by the heightened interest in environmental issues, and as a result, the demand for services related to environmental management, compliance, and due diligence is expected to rise significantly.
The growth of the environmental management, compliance, and due diligence services market may face limitations due to the high costs associated with environmental consulting services. Experienced consultants in the industry price their services at a premium, reflecting the perceived value they bring. For example, due diligence costs can range from $15,000 to $50,000 per site, and renowned firms such as Exponent charge a premium for services such as environmental response actions, liability estimation, and cost allocation among responsible parties. This pricing structure may pose a challenge for small and medium enterprises, discouraging them from utilizing these services and potentially increasing their operational costs.
Major companies in the environmental management, compliance, and due diligence market are focusing on innovation to promote sustainability and energy efficiency. One such example is the development of products such as the wireless RICOH EH Environment Sensor D201/202. Launched by Ricoh Company, Ltd. in September 2021, this sensor is equipped with the latest solid-state dye-sensitized solar cell (DSSC) module, the RICOH EH DSSC Series, which has improved power output by 20%. The wireless sensor requires no battery replacement and can monitor temperature, humidity, illuminance, atmospheric pressure, and CO2 concentration. The aim is to promote sustainability and energy efficiency in various industries by enabling the monitoring and management of energy usage and carbon footprint.
The introduction of carbon footprint management has generated significant demand in the environmental management, compliance, and due diligence services market. Companies are increasingly adopting carbon footprint management practices at various vertical levels in response to the imperative of complying with carbon emissions regulations. As an illustration, in 2022, Intercontinental Exchange (ICE) unveiled plans to launch UK Carbon Allowance Options, providing customers with a mechanism to manage the price risk associated with carbon emissions. These contracts are specifically designed to assist businesses in controlling and hedging their emissions, aligning with the UK government's initiatives to address climate change and reduce carbon emissions. The UK Carbon Allowance Options will be listed through March 2024, with the underlying contract being the December UK Carbon Allowance futures contract for the respective year.
In November 2021, Montrose Environmental Group, a U.S.-based company specializing in environmental and analytical services, completed the acquisition of Horizon Water and Environment LLC for an undisclosed sum. This strategic move is aimed at expanding Montrose Environmental Group's expertise in water resources and bolstering its ecosystem offerings, particularly in the state of California. Horizon Water and Environment LLC, the acquired company, is a U.S.-based environmental consulting firm known for providing environmental consulting services to state and local government entities. Their specialization includes expertise in CEQA/NEPA, environmental laws, regulatory requirements, and permitting processes.
Major companies operating in the environment management, compliance and due diligence market report are Medtronic PLC, FUJIFILM Holdings Corporation, Stryker Corporation, Boston Scientific Corporation, Olympus Corporation, Shanghai Fosun Pharmaceuticals Ltd., Hoya Corporation, Smith & Nephew PLC, Sonova Holding AG, William Demant Holding A/S, Demant A/S, Cochlear Limited, Conmed Corporation, Welch Allyn Inc., Carl Zeiss Meditec AG, Lumenis Ltd., COLLINS & Co. Ltd., Carl Zeiss AG, Rion Co. Ltd., Pentax Corporation, KLS Martin SE & Co., Acclarent Inc., Reda Instrumente GmbH, Intersect ENT Inc., EndoTech Ltd., SPIGGLE & THEIS Medizintechnik GmbH, Claron Technology Inc., Zhejiang Tiansong Medical Instrument Co. Ltd., Tonglu Full-Well Imp & Exp Co. Ltd., Happersberger Otopront GmbH
North America was the largest region in the environment management, compliance and due diligence market in 2023. Western Europe was the second largest region in the global environment management, compliance and due diligence services market share. The regions covered in the environment management, compliance and due diligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the environment management, compliance and due diligence market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The environment management, compliance and due diligence market consists of revenue earned by entities by providing advisory services to businesses and other organizations for obtaining licenses, compliance with government regulations and due diligence. These companies undertake environmental audits and quality assurance checks, conduct inspections, and ensure companies comply with environmental laws, regulations and international standards. Environmental due diligence involves steps to prevent an environmental offence from occurring. It can significantly reduce the risk of environmental accidents as well as regulatory and civil liability. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Environment Management, Compliance And Due Diligence Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on environment management, compliance and due diligence market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for environment management, compliance and due diligence ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The environment management, compliance and due diligence market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.