The Global Environment Health & Safety Market is expected to reach at a market size of $88.39 billion by the end of 2027 and it is projected to witness a CAGR of 6.9% during the forecast period of 2020 to 2027.
The environment health and safety services support companies to meet the quality set up by environmental bodies such as Resource Conservation and Recovery Act (RCRA) and Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA).
Rise in number of accidents in various industries including chemical, mining, construction, energy, etc., surge in integration of technological megatrends including mobility, big data, Internet of Things (IoT), and data analytics, and strict rule and regulations set by government for the safety of environment are some prominent driver of the global environment health and safety market. Moreover, increasing awareness regarding the negative impact of pollution leads to the development of environment protection act and thereby forcing companies to operate in an environment-friendly manner. This is a major driver of the growth of global environment health and safety market. However, high cost of environmental compliance software is a major hindrance in the path of the global environment health and safety market.
Surge in number of accidents which has harmful impact on environment in industries such as in energy, mining, chemical, construction, wastewater, etc. leads to rise in demand for the environment health and safety services and hence boosts the growth of the global environment health and safety market. For instance, the demand for environment health and safety service in construction industry is anticipated to grow with the market share of $14.09 billion by the end of 2027. This is attributed to the ability to assist construction industry in observing their impact on environment and ensure safety of the employees. On the other hand, demand for environment health and safety market in wastewater industry is estimated to grow at a CAGR of 6.7% during the forecast period of 2020 to 2027 owing to increasing number of rules and regulations regarding the discharge of wastewater which contains lead, zinc, and mercury.
The global environment health and safety market is studied among North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Among which, North America is expected to hold maximum market share of the global environment health and safety market during the forecast period. This is due to the development of end user industry infrastructure across the US and Canada and increase in investment in new technology in this region. Moreover, strict rules and regulations followed by the government of US and Canada for the safety of environment is anticipated to boost the growth of the global environment health and safety market in this region during the forecast period. On the other hand, Japan is estimated to grow at a CAGR of 7.6% during the forecast period of 2020 to 2027 owing to rapid industrialization in this region along with the presence of strict rules and regulations for environment health and safety.
Velocity EHS Company, a supplier of environment health and safety management information systems to global energy, biotech, mining, manufacturing, food service, and transportation companies. It was founded in 1996. Its headquarters is in Chicago, Illinois, United States. Velocity EHS software help companies to operate more efficiently, safely and sustainability.
Airsweb is a provider of environment health and safety software. It was founded in 1999 with 11- 50 employees. Its headquarters is in software Prescot, Lancashire, United Kingdom. Airsweb help its client to manage risk, maximize compliance and develop in a sustainable way.
Along with these, Enhesa, Enablon, ProntoForms, Safety Culture, Intelex, Gensuite, IsoMetrix, Cority, ProcessMAP, Quentic, Dakota Software, Sphere, Verisk 3E, Enviance, SAI Global, and SAP are some major market players in the research study of the global environment health and safety market.
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