PUBLISHER: The Business Research Company | PRODUCT CODE: 1484981
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484981
Environmental health and safety (EHS) is a diverse discipline dedicated to safeguarding human health, enhancing workplace safety, and preserving environmental integrity across a range of settings, including workplaces, communities, and natural environments. Its focus involves evaluating, managing, and mitigating risks related to environmental, occupational health, and safety hazards to prevent accidents, injuries, illnesses, and environmental harm.
The primary components of environmental health and safety comprise software and services. Software encompasses programs, applications, or platforms tailored to execute specific functions or tasks using electronically stored instructions and data. These software solutions can be deployed either via cloud-based systems or on-premise installations. Application areas span medical and pharmaceutical waste management, industrial waste management, wastewater management, and various other vertical-specific applications such as energy and utilities, chemicals and materials, healthcare, construction and engineering, food and beverage, government and defense, manufacturing, among others.
The environmental health and safety market research report is one of a series of new reports from The Business Research Company that provides environmental health and safety market statistics, including environmental health and safety industry global market size, regional shares, competitors with environmental health and safety market share, detailed environmental health and safety market segments, market trends, and opportunities, and any further data you may need to thrive in the environmental health and safety industry. This environmental health and safety market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The environment health and safety market size has grown rapidly in recent years. It will grow from $7.74 billion in 2023 to $8.55 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth observed during the historic period can be attributed to several factors. These include the increasing popularity of environmental health and safety mobile applications, the enforcement of stringent rules and regulations, heightened awareness regarding environmental health and safety concerns, industry initiatives aimed at waste reduction and process efficiency enhancement, and the rising number of regulations concerning employee safety.
The environment health and safety market size is expected to see rapid growth in the next few years. It will grow to $12.95 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The anticipated growth in the forecast period can be attributed to several factors. These include the escalation of government regulations aimed at environmental protection, the proliferation of businesses across various sectors, heightened investments from industries in Environmental Health and Safety (EHS) IT software to adhere to regulations set forth by organizations such as OSHA and EPA, and the escalation of waste reduction targets. Key trends expected in the forecast period encompass the establishment of advanced research and development centers, technological advancements, innovations in EHS solutions, and the implementation of low carbon emission policies.
The surge in waste reduction targets is poised to drive growth within the environmental health and safety market in the coming years. Waste reduction targets, defined objectives set by individuals, organizations, or governmental bodies, aim to curtail waste generation, disposal, or landfill usage within specified timeframes. This escalating need for waste reduction targets stems from an increasing global consciousness regarding the imperative to combat environmental degradation and transition toward a sustainable, circular economy. These targets amalgamate ecological health and safety considerations to combat pollution, diminish hazardous waste production, and safeguard both ecosystems and human well-being, thereby advocating for sustainable waste management practices. Notably, in September 2021, the United States Environmental Protection Agency (EPA) established a goal to slash food loss and waste by 50% by 2030, targeting 164 pounds per person. This initiative concentrates on preventing food waste generation and ensuring the continuous flow of food within the human supply chain. Consequently, the proliferation of waste reduction targets is set to propel growth within the environmental health and safety market.
Prominent enterprises operating within the environmental health and safety sector are channeling efforts towards the development of advanced cloud private editions, exemplified by SAP S/4HANA Cloud private editions, to facilitate organizational transformation of EHS processes and foster sustainable expansion. SAP S/4HANA Cloud Private Edition stands out as a customizable, cloud-based solution tailored to the unique requirements of individual organizations, offering flexibility in cloud deployment. A case in point is the 2023 introduction by SAP SE, a Germany-based software titan, of the new edition, SAP S/4HANA Cloud private edition, incorporating novel features designed to streamline environmental, health, and safety (EHS) processes. This innovation empowers organizations to identify and mitigate risks, evaluate hazards, implement preventive measures, and monitor risk controls. Characterized by automation, system integration, and transparency, this technology aids companies in revolutionizing their EHS processes and achieving sustainable growth.
In September 2023, J.S. Held, a US-based consultancy, executed the acquisition of Environmental Consultants LLC, enhancing its Environmental, Health, and Safety (EHS) practice and expanding its service offerings in industrial hygiene and environmental testing. The acquisition, completed for an undisclosed sum, enabled J.S. Held to fortify its resources in the Midwest region while augmenting its capabilities in environmental testing, inspection, and consulting services across diverse sectors. Environmental Consultants, LLC, the acquired entity, is recognized for its expertise in providing environmental testing, inspection, and consulting services, aligning seamlessly with J.S. Held's strategic objectives.
Major companies operating in the environment health and safety market are Microsoft Corporation, International Business Machines Corporation, Honeywell International Inc., SAP SE, Salesforce Inc., NEC Corporation, Ball Corporation, Jacobs Engineering Group Inc., AECOM Inc., ERM Group Inc., Blackstone Inc., SGS SA, Wolters Kluwer N.V., John Wood Group PLC, Hexagon AB, TETRA Technologies Inc., UL Solutions Inc., RPS Group plc, Valsoft Corporation Inc., Alcumus HSE Limited, Ideagen plc, Intelex Technologies Inc., Quentic GmbH, Cority Software Inc., Benchmark ESG, Evotix Limited.
North America was the largest region in the environment health and safety market in 2023. Europe is expected to be the fastest growing region in the market. The regions covered in the environment health and safety market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the environment health and safety market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The environment health and safety market consists of revenues earned by entities by consulting services, software solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. The environment health and safety market also includes sales of personal protective equipment (PPE), pollution control devices, and monitoring equipment. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.