Environment Health And Safety Market Definition And Segments
Environment health and safety (EHS) is a multidisciplinary field that focuses on safeguarding human health, promoting workplace safety, and ensuring environmental protection within various settings, including workplaces, communities, and natural habitats. It involves assessing, managing, and mitigating risks associated with environmental hazards, occupational health hazards, and safety hazards to prevent accidents, injuries, illnesses, and environmental degradation.
The main components of environment health and safety are software and services. Software refers to programs, applications, or platforms designed to perform specific functions or tasks using instructions and data stored electronically. The various deployments are cloud and on-premises. The applications included are medical and pharmaceutical waste management, industrial waste management, wastewater management, and other applications for verticals such as energy and utilities, chemicals and materials, healthcare, construction and engineering, food and beverage, government and defense, manufacturing, other verticals
The environment health and safety market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment Mode: Cloud, On-Premise
3) By Application: Medical And Pharmaceutical Waste Management, Industrial Waste Management, Wastewater Management, Other Applications
4) By Vertical: Energy And Utilities, Chemicals And Materials, Healthcare, Construction And Engineering, Food And Beverage, Government And Defense, Manufacturing, Other Verticals
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 in the historic period can be attributed to the popularity of environmental health and safety mobile applications, the presence of strict rules and regulations, growing awareness of environmental health and safety, industries to reduce waste and improve process efficiency, and increasing number of employee safety regulations.
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 growth in the forecast period can be attributed to rising government regulations for environmental protection, increasing number of businesses, increasing investments from industries in EHS IT software to comply with OSHA and EPA regulations, and increased waste reduction targets. Major trends in the forecast period include advanced research and development centers, technological advancement, innovations, low carbon emission policies.
Driving Growth In The Environment Health And Safety Market Through Increased Waste Reduction Targets
The increased waste reduction targets are expected to propel the growth of the environment health and safety market going forward. A waste reduction target is a specific goal set by individuals, organizations, or governments to reduce the amount of waste generated, disposed of, or sent to landfills within a defined timeframe. The increased need for waste reduction targets is due to a growing global awareness of the urgent need to combat environmental degradation and transition towards a more sustainable and circular economy. Waste reduction targets incorporate ecological health and safety considerations to mitigate pollution, minimize hazardous waste generation, and safeguard ecosystems and human well-being, promoting sustainable waste management practices. For instance, in September 2021, the United States Environmental Protection Agency (EPA), a US-based government agency, set a goal to reduce food loss and waste by 50% by 2030 to 164 pounds per person, focusing on preventing food waste generation and keeping food in the human supply chain. Therefore, increased waste reduction targets the growth of the environment health and safety market.
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.
Transforming Environment Health And Safety Practices With Technological Advanced Editions
Major companies operating in the environment health and safety market are focusing on developing advanced cloud private editions, such as SAP S/4HANA Cloud private editions, to help companies transform their EHS processes and support sustainable growth. SAP S/4HANA Cloud Private Edition is a customizable cloud-based solution tailored to individual organizations' specific needs, providing flexibility in cloud deployment. For instance, in 2023, SAP SE, a Germany-based software company, launched a new edition, SAP S/4HANA Cloud private edition, which offers new features to simplify environmental, health, and safety (EHS) processes, enabling organizations to identify and mitigate risks, assess hazards, implement preventive measures, and monitor risk controls. This technology demonstrates automation, system integration, and transparency, helping companies transform their EHS processes and achieve sustainable growth.
J.S. Held Expands EHS Practice With Acquisition Of Environmental Consultants
In September 2023, J.S. Held, a US-based consulting firm, acquired Environmental Consultants LLC for an undisclosed amount. With this acquisition, J.S. Held aimed to bolster its Environmental, Health, and Safety (EHS) practice by adding key resources in the Midwest and expanding services in industrial hygiene and environmental testing. Environmental Consultants, LLC is a US-based company that provides environmental testing, inspection, and consulting services to clients in various sectors.
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 environmental health and safety market also include 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.
The environment health and safety market research report is one of a series of new reports from The Business Research Company that provides environment health and safety market statistics, including environment health and safety industry global market size, regional shares, competitors with environment health and safety market share, detailed environment health and safety market segments, market trends, and opportunities, and any further data you may need to thrive in the environment health and safety industry. This environment 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.