- The global environmental health & safety (EHS) market was valued at US$ 4,729.3 Mn in 2019 and is expected to reach US$11,500.5 Mn by 2027, expanding at a CAGR of 11.7% from 2019 to 2027.
- The EHS market is expected to witness prominent growth in the near future, especially in developing economies. Adoption of EHS across SMBs was low in the early years due to the high cost of environmental compliance software. Thus, to adhere with EHS norms and regulations, several Federal agencies have been operational across developing economies to ensure the implementation of EHS. Furthermore, these agencies have introduced cost-effective solutions to comply with EHS standards primarily for SMBs and cost-sensitive economies. Prominent driving factors for the EHS market are the multiple statutory and legal requirements to maintain EHS safety standards. This is expected to lead to significant growth potential in the market across all the regions over the forecast period.
Environmental Health & Safety (EHS) Market – Definition
- The environmental health & safety market report provides analysis of the global environmental health & safety market for the period 2017 – 2027, wherein 2018 is the base year and 2019 to 2027 is the forecast period. Data for 2017 has been included as historical information.
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- The study on the environmental health & safety market would help clients understand the analysis of environmental health & safety based on different industry verticals.
Environmental Health & Safety (EHS) Market Taxonomy
- The EHS market is segmented on the basis of components, end-use industry, and geography. The components segment can be further classified on the basis of software solutions and the services offered. The different types of software solutions associated with EHS include quality and risk assessment software, data analytics software, cost management software, environmental compliance software, energy and carbon management software, and others. The EHS service segmentation includes consulting services, project management, analytics, training, implementation, auditing, and certification. Key end-use industries implementing EHS software and services covered in this report are chemical & petrochemical, energy & mining, construction, agriculture, transportation, manufacturing, government & public sector, retail, healthcare, and others.
- Based on geography, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America recorded the maximum implementation of EHS in terms of software and services, and the region is expected to dominate the EHS market. This high growth rate is anticipated due to the development of end-use industry infrastructure across the U.S. Moreover, rising awareness in terms of adherence to environmental regulations has further strengthened the EHS market in North America.