According to the latest market report published by Credence Research, Inc. “Environmental Health & Safety (EHS) Market – Growth, Future Prospects, and Competitive Analysis, 2017 – 2025,” the global environmental health & safety (EHS) market was valued at US$ 3,007.5 Mn in 2016, and is expected to reach US$ ,7323.0 Mn by 2025, expanding at a CAGR of 11.8% from 2017 to 2025.
The term Environmental health safety (EHS) is coined to include all the rules, regulation, law, guidance and processes set for protection of the employees, environment and public in general from any mishap or accidents. Every organisation or workplace is associated with some or the other form risk; where the nature and intensity of harm caused due to accident varies according nature of industry. With rising awareness about health and environment safety among employees and organisation, stringent regulation by the government, are some of the events driving the growth of the EHS market.
Browse the full report Environmental Health & Safety (EHS) Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 at http://www.credenceresearch.com/report/environmental-health-and-safety-ehs-market
With shifting paradigm towards holistic development, most of the companies aspire to be environment friendly and heavily invest in health, safety and environment management. Thus organisations are increasingly involved in building protocol, complying with environmental regulation, managing waste, reducing carbon footprint. This also includes measures like air quality, address ergonomics and other safety measure required for work place for wellbeing of employees. Increasing awareness of environment, rise in accident/mishaps especially in mining, energy, chemical industry, has led to huge investment and implementation of EHS by the organisation which is key driving factor for EHS market.
The global environmental health & safety (EHS) market is segmented by components type into software and services. Software segment is further categorized into data analytics, cost management, quality & risk assessment, energy & carbon management, environmental compliance and others. Services market is further sub segmented into analytics, implementation, training, consulting, auditing, certification and project management. The service segments dominates the market, is anticipated grow in the forecast period 2017-2025.
As of the current market scenario, North America together dominate the global environmental health & safety (EHS) market followed by the Europe market. This dominance is expected to continue owing to recovery of core industries in the region such as construction, manufacturing, and chemicals, combined with the increasing number of compliance requirements imposed by governments and environmental protection agencies of the region. Asia Pacific is anticipated to be the fastest growing regional market in the forecast period.
Market Competition Assessment:
Key players in the global environmental health & safety (EHS) market are 3E Company, AECOM Technology Corporation, Enablon North America Corporation, IBM Corporation, EtQ Inc., CMO Software, Enviance, Inc., Intelex Technologies Inc., Medgate, Inc., SAP SE, Golder Associates, Tetra Tech, Inc., Environmental Health and Safety Consultants Pvt. Ltd., EHS Data Limited, ProcessMap Corporation and others.
Key Market Movements:
– Rising awareness about health, safety and environmental responsibilities, encourage society and organization to take steps towards EHS
– Government and private initiatives and funding towards development of sustainable and holistic program to integrate environmental, health, or safety of individual and organization
– Various guidelines and stringent regulation by government and regulatory authorities to avoid mishaps especially with respect to chemical, mining and energy, petrochemical industry to protect the employee and environment is one of the key driving factor for environmental health & safety (EHS) market
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