Environment Health & Safety Market Expected To Fuel Industry Growth With $77.0 Billion By 2030: Grand View Research Inc.

San Francisco, 29 February 2024: The Report Environment Health & Safety Market Size, Share & Trends Analysis Report By Product (Services, Software), By Deployment Mode (Cloud, On-premise), By End-use (Construction, Healthcare), By Region, And Segment Forecasts, 2024 – 2030

The global environment health & safety (EHS) market size is expected to reach USD 77.0 billion by 2030, registering a CAGR of 6.6% during the forecast period, according to a new report by Grand View Research, Inc. Increasing stringent government regulations across various economies acts as a major driver for market growth. Moreover, the energy and chemical sectors, where workers handle hazardous products, use environment health & safety (EHS) software & services to prevent workplace mishaps. These aforementioned factors will propel the market demand in the coming years. The implementation of EHS technology is expected to improve the overall safety of workers and assist the organizations to reduce their environmental impact. The EHS service providers assist the governments as well as industrial clients to improve their overall business management.

Companies that have implemented a formal risk management system can identify the risks across all the operations. For instance, in November 2020, Intelex Technologies acquired ehsAI, a compliance automation technology provider that uses machine learning and artificial intelligence to help organizations reduce the risks and costs of permitting and compliance management. This acquisition has increased Intelex’s compliance offerings and has further strengthened its EHSQ position. The development of Big Data and the Internet of Things (IoT) is anticipated to augment the use of EHS technology. In addition, digital transformations, such as inexpensive computing power, the development of cost-effective sensors that can collect large volumes of information, and the overall connectedness of systems and devices are anticipated to augment the growth of EHS technology over the forecast period.

Manufacturers are looking for partnerships, mergers, and acquisitions to create cutting-edge and original solutions. Also, manufacturers are implementing several methods, such as geographic growth and the development of new products, to increase their market penetration and serve end-use industries. For instance, AECOM and Conservation International collaborated to co-found the Green-Gray Infrastructure Community of Practice in January 2021. Members of the GGI COP come from academic, government, non-profit, and corporate organizations in a range of fields, including engineering, conservation, building, and finance.

Increasing public concerns in terms of environmental issues in recent years have led to the development of environmental protection laws, which are anticipated to drive market expansion. Companies in the U.S., Canada, the UK, and Australia need to follow strict wastewater treatment and industrial waste disposal norms and regulations, such as the National Pollutant Release Inventory (NPRI) in Canada, the Toxics Release Inventory (TRI) in the U.S., and the National Pollutant Inventory (NPI) in Australia. The establishment of these stringent norms is anticipated to propel industry growth during the projection period. Chemical, automotive, mechanical engineering, and electrical are key industries in Germany.

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The extensive presence of key manufacturing and chemical industry competitors in the country, along with the presence of strict environmental, health & safety norms, is expected to positively impact the growth of the German market. Moreover, factors such as the availability of advanced research & development centers, growing investments to drive operational efficiency, and favorable market growth policies are poised to advance the demand for environmental health & safety (EHS) services in the coming years. Many companies strive to conduct their operations with “Zero Incidents” or “Zero Harm” to people and the environment. Depending on how the organization defines it, this could mean zero incidents of harm to people or property or even zero environmental effects. It may even imply that there have been no close calls or risky actions. The new standard for excellence in health and safety management is “Zero Incidents.”

Environment Health & Safety Market Report Highlights

• The demand for environment health & safety (EHS) software product segment accounted for 3.7% of the global revenue share in 2023. The growth of the environmental health & safety (EHS) software segment can be primarily attributed to rising investments by organizations in automated environmental, health, and safety solutions to reduce the harmful impact of their operations on the environment and provide a safer working environment for the employees
• The cloud deployment mode segment accounted for a 28% share of the global revenue in 2023. The vast range of capabilities and essential features that cloud-based solutions offer are boosting the adoption of these solutions to increase at a significant rate and this trend is anticipated to continue throughout the projection period
• The chemicals & petrochemicals end-use segment accounted for a share of 24.5% in 2023. The rapid increase in the production of shale across the globe has led to an increased demand for petrochemicals and their derivatives. The chemical & petrochemical industry significantly releases contaminants in water bodies making them prone to emission norm violations. The effective use of EHS services and software can assist these industries in tracking and reporting their regulatory compliance and environmental impact
• North America accounted for a share of 37.6% in 2023 due to the high demand for EHS services in North America on account of the presence of a large number of oil & gas extraction industries in the region, which use these services to adhere to the regulations and ensure the health & safety of their employee
• In January 2021, AECOM formed a partnership with Conservation International and co-founded the Green-Gray Infrastructure Community of Practice (GGI COP). The GGI COP includes members from government, non-profit, private, and academic organizations in various sectors including engineering, conservation, construction, and finance.

It enables companies to demonstrate their dedication to the welfare of their staff. These aforementioned factors are expected to drive the demand for EHS services over the forecast period. For instance, Trane Technologies strives for a safety-focused culture and works to achieve zero accidents and injuries across the whole organization. Government agencies, including the U.S. Environmental Protection Agency (EPA), Occupational Safety and Health Administration (OSHA), and the U.S. Department of Labor, lay down the EHS norms and regulations. In the U.S., among major market participants are Jacobs; AECOM; Enablon; Tetra Tech, Inc.; and VelocityEHS. These companies provide a wide range of EHS software and services, including ergonomics, engineering and construction, risk assessment, EHS software, and management consulting and compliance.

The strong demand for EHS services in the North American region can further be explained by the presence of several oil & gas extraction industries, which utilize these services to comply with regulations & ensure employee safety & health. Oil & gas spills negatively impact the environment and aquatic habitats extensively, which has led to governments in the region having implemented stringent disposal and risk assessment norms for oil & gas industries. The expansion of these industries in this region, particularly in the United States, is expected to drive the demand for these services in the region. Companies can comply with the criteria set by environmental organizations such as CERCLA and RCRA with the help of EHS software and services. Demand is going to be complemented by growing social and political pressure on companies to operate sustainably as awareness of the harmful effects of pollution grows.

For instance, CGE Risk Management Solutions B.V., a supplier of risk management software that offers the industry-recognized BowTieXP solution, was acquired by Wolters Kluwer Legal & Regulatory in January 2020. The Environmental, Health & Safety, and Operational Risk Management (EHS/ORM) software business of Wolters Kluwer, which already comprises Enablon and eVision, will now incorporate CGE. Customers will be able to conduct more accountable, successful, and safe operations owing to the combined services’ improved EHS, ORM, and risk performance. The EHS market is characterized by extensive research for the development of solutions and software for more complex applications related to several end-use industries. However, a lack of awareness among companies, primarily in developing economies, is expected to hamper market growth.

Environment Health & Safety Market Report Scope

Rising government regulations for environmental protection, especially in the U.S. and Europe, are expected to augment the growth of the environmental health and safety market over the forecast period. Increasing focus on environmental impact can be seen from the rising international environmental bilateral and multilateral agreements across the globe. Countries including China, India, and Mexico have implemented stringent regulations for environmental protection and energy consumption. In developing countries such as India, stringent regulations concerning emissions are being enforced and old regulations are being revised to meet the global environmental standards, which has created opportunities for EHS service provided in recent years.

List of Key Players of Environment Health & Safety Market

• AECOM
• Jacobs
• Intelex Technologies
• Enablon
• Tetra Tech, Inc.
• SAP SE
• Golder Associates
• SGS SA.
• ERM Group, Inc.
• VelocityEHS
• John Wood Group PLC
• RPS Group