Environment, Health, and Safety (EHS) Market Analysis, Drivers, Opportunities, Trends, Applications, And Growth Forecast To 2027
Environment, Health, and Safety (EHS) Market Scenario:
The global Environment
Health and Safety Industry are
estimated to value USD 8.09 billion expanding at a CAGR of 11.50% during the
forecast period of 2020 to 2027. The EHS discipline assures that organizations
perform their functions in an environment-friendly manner and causing no harm
to the environment or any individual.
The major factors driving the
2020 EHS market is the rising awareness about the environment, health, and
safety among the enterprises and the employees. Owing to the growing unforeseen
accidents in the workplace, the EHS market is witnessing growth. These
accidents usually occur in the chemical, mining, energy and utility and
construction industries. Among all, the energy and utility segment holds the
largest market size due to the rising establishment of EHS solutions, along
with the evolution of laws and regulations in this vertical. The strict acts,
rules, and regulations passed by the federal bodies and government have also
propelled the EHS market. From the past few years, major rules and regulations
have been passed by the government to assure the EHS. The US government has
made federal investments for EHS in the nanotechnology market. It ensures the
development of technology with responsible science-based guidance, leading to
the management of the risk at the workplace. A lot of companies take the
assistance of artificial intelligence which allows the users to accomplish
various tasks with text and voice commands and helps to achieve the
time-consuming tasks.
The sudden challenges created by the ongoing COVID-19
are captured effectively to exhibit the long term growth projections in the
MRFR report on Environment, Health, and Safety (EHS) Market. The growth sectors
of the Environment, Health, and Safety (EHS) Market are identified with
precision for a better growth perspective.
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Competitive Outlook:
The distinguished players in
the market of EHS are VelocityEHS (US), Enviance (US), SAP (Germany), Intelex
(Canada), Verisk 3E (US), Gensuite (US), EtQ (US), Enablon (US), Sphera
Solutions (US), Cority (Canada), and others.
Other eminent players of the
market are SiteHawk (US), and Optial (UK). These players take initiatives in
innovative programs and invest heavily in research and development programs to
present cost-effective proposals in the market. Moreover, acquisitions and
mergers among several players are bringing an impact in changing the market
structure.
Segmentation:
· The distinguished players in
the environment, health, and safety (EHS) industry is segmented on the grounds
of region, vertical and component. The segments are further classified as
mentioned below-
· On the basis of region, the
market is segmented into Asia-Pacific, Europe, and North America.
· On the basis of vertical, the
EHS market is segmented into government and defense, energy and utilities,
construction and engineering, healthcare, chemicals and materials, food and
beverage, and others which include retail and, telecom and IT automotive.
· On the basis of service, the
EHS market is further classified into certification services, business
consulting and advisory services, project deployment and implementation
services, assessment, audit, regulatory compliance services, data analytics
services, training, and support services and certification services.
· On the basis of component, the
EHS market is classified into service and solution.
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Regional
Analysis:
The regional
study for the EHS market is performed for Asia-Pacific, Europe, North America
and the Rest of the World. North America is leading the market due to the US
and Canada’s developed economies, investing immensely in research and
development initiatives. These initiatives such as investment in research and
development programs are contributing significantly towards the development of
new and modern technology. Europe is estimated to show robust growth during the
forecast period.
Asia-Pacific is
considered to be the fastest-growing market in the context of rising CAGR.
Countries like India, Japan, China, and Australia have also experienced the
adoption of new technologies. The government of these developing countries is
continuously taking initiatives towards the research and development of the EHS
solutions in several organizations.
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