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Global EHS Market was valued US$ 4.86 Bn in 2018 and is estimated to reach US$ XX Bn by 2024 at a CAGR of XX %.
Global EHS Market
The global EHS market segmented by component, services, software, vertical, and region. Based on the component, the EHS market is categorized into services and software. Based on services the EHS market is classified into project deployment & implementation services, analytics services, audit, assessment and regulatory compliance services, business consulting & advisory services, certification services, and training & support services. On the basis of software, the market is divided into quality & risk assessment, data analytics, cost management, environmental compliance, energy & carbon management, others. A vertical segment has been categorized into chemicals & materials, energy & utilities, construction & engineering, healthcare, food & beverage, food & beverages, and government & defense among others. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
The key factor that has contributed to the market growth of environmental health and safety is the rising strict laws, regulations, guidelines, and processes regarding the safety of the environment. There are various regions where these rules and regulations are implemented majorly the countries that have numerous chemical industries. Various companies are increasingly investing in the deployment of environmental health and safety (EHS) tools. There have been many incidences in which harmful chemicals have affected human life and environment. Since then the governments of different regions have become stricter in the implementation of the rules and regulation in the chemical industry. Thus the demand of the EHS tools has increased drastically.
In terms of services, project deployment & implementation services are provided during the deployment and implementation of EHS solutions. The successful implementation of EHS solutions requires a thorough review of the organizational structure and processes, accurate migration of legacy data, and a well-organized deployment plan.
Based on vertical, the construction & engineering vertical is estimated to grow at the highest CAGR during the forecast period. For every organization, worker safety is critical; however, there is a high requirement for safety in the construction and engineering vertical. The construction and engineering vertical includes 5 major solutions, namely, incident management, audit and inspection, waste management, on-demand training, and compliance management.
In terms of region, the North America region is expected to hold the largest market size in 2017. The major reason behind the strong growth of the EHS market in North America can be attributed to the stringent rules and regulations followed by the US and Canada governments. The major global implementation of the software and services is carried out in this region. This dominance will continue in the coming years due to the factors such as development in the energy and chemical industry and the stringent regulations that are implemented by the government in this region.
Some of the key players in the EHS market are 3E Company, IHS Inc., SAP SE, Enablon North America Corporation, International Finance Corporation, UL Llc., and Medgate Inc.
The Scope of the Global EHS Market
Global EHS Market by Component
Global EHS Market by Services
• Business Consulting & Advisory Services
• Analytics Services
• Audit, Assessment, & Regulatory Compliances
• Project Deployment & Implementation Services
• Certification Services
• Training & Support Services
Global EHS Market by Vertical
• Energy & Utilities
• Chemical & Materials
• Food & Beverages
• Construction & Engineering
• Government & Defense
Global EHS Market by Software
• Quality & Risk Assessment
• Cost Management
• Data Analytics
• Energy & Carbon Management
• Environmental Compliance
Global EHS Market by Geography
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players operating in the Global EHS Market
• Verisk 3E
• Sphera Solutions
• 3E Company
• IHS Inc.
• International Finance Corporation
• UL Llc.
• Medgate Inc.
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Michael Owens serves as the marketing advisor of Head45 in Cardiff Bay. He is a specialist in customer experience and an expert brand strategist who is keen to take on challenges that will help the business expand. Michael puts his creative energy into penning posts that are both interesting and useful for the most popular blogging sites.