According to a research report “Environment, Health, and Safety Market by Offering (Software and Services (Analytics, Project Deployment and Implementation, Audit, Assessment, and Regulatory Compliance, Certification)), Application, Vertical & Region – Global Forecast to 2029″ published by MarketsandMarkets, the environment, health and safety market is expected to reach USD 11.5 billion by 2029 from USD 7.9 billion in 2024, at a CAGR of 7.6 % during 2024–2029.
Browse 218 market data Tables and 42 Figures spread through 252 Pages and in-depth TOC on “Environment, Health, and Safety Market”
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As leading companies worldwide increasingly prioritize robust EHS systems, the EHS market is being driven by the growing recognition of EHS as a critical component for achieving various business objectives. Beyond mere regulatory compliance, organizations now view EHS as essential for effective risk management, sustainability efforts, corporate social responsibility, operational efficiency, cost reduction, and brand reputation enhancement. A strong EHS culture correlates with increased productivity, product quality, employee morale, and profitability. Businesses invest in comprehensive EHS solutions to capitalize on these benefits, recognizing that effective EHS management not only safeguards people and the planet but also drives long-term business success.
The software segment contributed the largest market share in the environment, health, and safety market during the forecast period.
EHS software helps identify hazards, manage safety data, and monitor worker health, promoting a safer and healthier work environment. With features like data analysis and risk assessment, businesses can proactively prevent accidents. EHS software enables enterprises to protect their employees’ health and safety from potential workplace hazards. It also assists organizations in staying afloat in this dynamic regulatory environment by keeping them informed of regulation updates.
A heightened awareness of EHS issues drives the demand for EHS software and services. High-profile incidents involving hazardous chemicals have pushed governments worldwide to implement stricter regulations, particularly in the chemical and energy sectors. EHS software empowers businesses to navigate these more stringent regulations and prioritize safety and environmental responsibility.
The analytics services segment is projected to register the highest CAGR during the forecast period.
Analytics services assist organizations in consolidating data from various sources and leveraging it to enhance profitability. Once data is uploaded into the EHS analytics platform, organizations can visualize it through customizable dashboards, share insights with stakeholders, and export it for further analysis. These services encompass the aggregation and analysis of data from diverse sources, offering valuable insights to improve decision-making and operational performance. The increasing adoption of analytics services is primarily driven by the growing complexity of regulatory requirements, heightened focus on workplace safety, and organizations’ need to proactively manage environmental impacts. By harnessing analytics, companies can identify trends, predict potential hazards, and optimize resource allocation.
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Based on region, Asia Pacific is projected to register the highest CAGR during the forecast period.
Asia Pacific, home to nearly 40% of the world’s population, is witnessing diverse implementations of environment, health, and safety technologies. The Asia Pacific region is undergoing a notable surge in adopting environment, health, and safety, driven by the flourishing economies of India, China, Japan, Australia, and New Zealand. Initiatives like the China Environment and Health Initiative by the Social Science Research Council (SSRC) aim to advance research on the interconnectedness of health, environment, and development in China. Similarly, countries such as India, Australia, and Japan have implemented various measures to adopt EHS solutions. In India, the government and labor departments at both state and union territory levels oversee worker safety and health, supported by bodies like the Directorate General of Mines Safety (DGMS) and the Directorate General Factory Advice Services and Labor Institutes (DGFASLI). Australia, meanwhile, follows the comprehensive Work Health and Safety Act 2011, encompassing a range of EHS regulations.
The report profiled key players in EHS Market such as VelocityEHS (US), Wolters Kluwer (Netherlands), Intelex Technologies (Canada), Benchmark ESG (US), Cority Software Inc. (Canada), Sphera (US), Intertek (UK), Quentic (Germany), UL Solutions (US), Ideagen (UK), SAP (Germany), IBM (US), Evotix (UK), EcoOnline (Norway), Diligent Corporation (US), ETQ (US), 3E (US), Dakota Software Corporation (US), IsoMetrix (US), Enhesa (US), VisiumKMS (US), SafetyCulture (Australia), TextContext (Canada), ComplianceQuest (US), Pro-Sapien (UK), SHEQX (Australia), CMO Software (UK), Indus Environmental Services (India), Inicia (Japan), ASK-EHS Engineering (India), SHE Group (South Africa), and EHS Brazil (Brazil).
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