Environmental Health and Safety Market by Component (Solution and Services), by Application (Wastewater Management, Medical & Pharmaceutical Waste Management, and Industrial Waste Management), and by End-User (Energy and Utilities, Healthcare, Chemicals and Materials, Construction and Engineering, Government and Defense, Food and Beverage, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024

Global environmental health and safety market expected to reach approximately USD 9.63 billion by 2024, growing at a CAGR of around 12.4% between 2018 and 2024. The global environmental health and safety market is majorly driven by the increasing number of accidents in various industries, such as energy, mining, chemical industries, and construction.

17-Dec-2018 | Number of pages: 145 | Report Code: ZMR-1424 | Report Format : | Status : Published

Analysis

Environmental health and safety is an organization’s department that aims to reduce accidents, emergencies, and health problems at work and environmental damage resulting from work practices. EHS ensures that the tasks undertaken by the organization does not create any inappropriate environmental damage, put the employees’ safety at risk, assembles applicable legislation, and follows good practices. EHS department takes a systematic approach to prevent injuries and accidents.

The increase in the number of regulations by government agencies and environmental protection globally is the primary factor likely to drive the environmental health and safety market. Additionally, the rising awareness of environmental health and safety among organizations and employees is further anticipated to contribute toward this market. However, the high installation cost of environmental compliance software and the lower adoption of EHS tools by small businesses might hamper this market. Nonetheless, emerging economies have accepted the international standards that are likely to create more market opportunities.

Environmental Health and Safety Market

By component, the environmental health and safety market is bifurcated into solutions and services. The service segment is likely to register the highest growth rate over the forecast time period, owing to the increase in the demand for analytical services that allow enterprises in aggregating data from a number of resources and help in analyzing to increase profit. Wastewater management, medical and pharmaceutical waste management, and industrial waste management form the application segment of the environmental health and safety market. By end-user, this market includes energy and utilities, chemicals and materials, healthcare, construction and engineering, government and defense, food and beverages, and others. The energy and utility sector is projected to hold the largest market share over the forecast time period, owing to the increased adoption of environmental health and safety solutions.

North America dominated the global environmental health and safety market in 2017, due to the strong established economies of the U.S. and Canada. These countries empower the region to heavily invest in research and development activities, which, in turn, contributes to the development of advanced technologies. Europe is growing steadily in the environmental health and safety market, owing to the adoption of EHS solutions by UK, Germany, and France, in various industrial applications, which includes healthcare and food and beverages. Asia Pacific is estimated to register the highest growth rate in the projected years, owing to the investments made in the R&D of environmental health and safety solutions and services by governments of various countries in this region.

Some of the key players operating in the global environmental health and safety market are SAP, Enablon, Intelex, ETQ, Gensuite, Enviance, Cority, Verisk 3E, Optial, Velocityehs, Sphera Solutions, and Sitehawk, among others.


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