Environmental Health and Safety (EHS) Market Witnesses Rapid Growth Amidst Sustainability Focus

The Environment Health and Safety market is expected to grow from an estimated USD 8.14 billion in 2024 to USD 16.27 billion in 2033, at a CAGR of 8.00%. The Environmental Health and Safety (EHS) market is experiencing substantial growth as organizations worldwide prioritize sustainability and workplace safety. A recent survey by a leading management consulting firm highlights that sustainability has become a top priority for CEOs across industries. This trend reflects the integration of environmental goals into corporate strategies, with EHS practices playing a pivotal role in achieving these objectives.

Consumer demand for eco-friendly products and services is also on the rise, as evidenced by a study conducted by an international environmental organization. Businesses are responding by adopting sustainable practices, while governments globally are introducing stricter sustainability reporting requirements. Organizations with robust EHS management systems are better positioned to meet these requirements, enhancing their commitment to sustainability and gaining a competitive edge.

The growing focus on Environmental, Social, and Governance (ESG) factors among investors has further fueled the adoption of EHS solutions. These systems help organizations enhance sustainability performance, demonstrating their accountability to stakeholders.

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Technology Drives EHS Market Expansion

Technological advancements are propelling the EHS industry forward, with many companies embracing digital transformation to improve safety and compliance. According to a prominent technology research firm, businesses are increasingly leveraging tools such as the Internet of Things (IoT), Artificial Intelligence (AI), and cloud computing to revolutionize EHS practices.

Over 60% of organizations use IoT devices for real-time workplace condition monitoring, enabling the early detection of hazards. Additionally, 55% of firms utilize AI for data analysis and risk prediction, allowing proactive management of safety concerns. Cloud computing adoption has also surged, with 70% of businesses integrating these solutions to streamline EHS processes, improve collaboration, and reduce operational costs.

Market Drivers: A Focus on Workplace Safety

The growing emphasis on workplace health and safety remains a key driver of EHS market growth. Companies are increasingly recognizing the benefits of investing in safety initiatives, including enhanced productivity and reduced accident-related costs. Moreover, workplace safety is now seen as a critical component of corporate social responsibility, pushing organizations to adopt comprehensive EHS strategies.

According to the U.S. Bureau of Labor Statistics, nearly 2.8 million workers in the private sector were injured or fell ill on the job in 2019. Industries such as air transportation, nursing care, and manufacturing recorded some of the highest injury rates, prompting businesses to invest significantly in safety programs and employee well-being.

Challenges: Cost and Integration Hurdles

Despite its growth, the EHS market faces challenges, primarily the high costs of implementation and maintenance. Small and medium-sized enterprises (SMEs) often struggle with the financial burden of modern EHS solutions, which involve significant investments in software, hardware, and training.

Integrating EHS systems with existing business processes and IT infrastructure can also be complex and time-consuming, particularly for organizations reliant on older systems. These challenges may lead to extended implementation timelines and increased costs, discouraging some businesses from fully adopting EHS solutions.

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Segment Insights: Services and Software Lead the Market

In 2023, the services segment dominated the EHS market, offering compliance program development, safety evaluations, water quality testing, and EHS consulting. However, the software segment is the fastest-growing area, providing tools for incident reporting, risk assessment, compliance tracking, and sustainability reporting. These software solutions are tailored to address environmental concerns such as emissions monitoring and waste management, as well as workplace safety issues like hazard identification and training.

Environment Health and Safety Top Companies and Competitive Landscape

The Environment, Health, and Safety (EHS) sector deals with the overall safety of the environment while ensuring safe practices in various workplaces. This is perhaps one of the most important emerging sectors as organizations worldwide focus on sustainability and the well-being of employees.

The key players within this competitive landscape include Sphera, Intertek, Quentic, UL Solutions, and Ideagen. Consequently, the EHS industry is changing in more ways than one owing to increasingly stringent regulatory pressures and societal expectations for environmental stewardship. Technology has been a major tool for not only enhancing the operational efficiency, but also safety standards. Competition therefore pushes these players to strive for constant improvement and innovation, and hence, organizations need to be abreast of the latest EHS solutions.

In May 2023, Cority has announced the acquisition of Greenstone, a UK-based software firm that provides sustainability solutions to enterprises, supply chains, and asset management. This is Cority's third sustainability-focused acquisition in the last two years, following WeSustain and Reporting 21.

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Some of the key companies in the global Environment Health and Safety market include:

Velocity EHS

Wolters Kluwer

Intelex Technologies

Benchmark ESG

Cority Software Inc.

Sphera

Intertek

Quentic

UL Solutions

Ideagen

SAP

IBM

Evotix

EcoOnline

Diligent Corporation

ETQ

3E

Dakota Software Corporation

IsoMetrix

Enhesa

VisiumKMS

SafetyCulture

TextContext

ComplianceQuest

Pro-Sapien

SHEQX

CMO Software

Indus Environmental Services

Inicia

ASK-EHS Engineering

SHE Group

EHS Brazil

Environment Health and Safety Latest Industry Updates

In February 2024, VelocityEHS has acquired Contractor Compliance, a Canadian enterprise safety and risk management software solution provider. The agreement expands the award-winning VelocityEHS Accelerate Platform with unique third-party contractor and vendor compliance features.

In August 2023, UL Solutions announced the acquisition of CERE, a privately owned third-party testing, simulation, and certification company headquartered in Madrid.

In January 2023, Wolters Kluwer Legal & Regulatory has announced the acquisition of Della Al Ltd., a leading provider of Al technology based on advanced natural language processing. This technology was intended to enable legal practitioners to evaluate contracts in many languages by just asking questions.

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Environment Health and Safety Market Segmentation Analysis

Offering Outlook (Revenue, USD Billion; 2020-2033)

Software

Services

Analytics Services

Project Deployment and Implementation Services

Business Consulting and Advisory Services

Audit, Assessment, and Regulatory Compliance Services

Certification Services

Training and Support services

Application Outlook (Revenue, USD Billion; 2020-2033)

Health Safety Management

Environmental & Sustainability Management

Waste Management

Energy & Water Management

Air Quality & Compliance Management

Incident & Risk Management

Other Applications

Vertical Outlook (Revenue, USD Billion; 2020-2033)

Energy and Utilities

Chemicals and Materials

Healthcare and Lifesciences

Construction and Engineering

Food and Beverage

Government and Defense

Other Vertical

Regional Outlook (Revenue, USD Billion; 2020-2033)

North America

United States

Canada

Mexico

Europe

Germany

France

United Kingdom

Italy

Spain

Benelux

Rest of Europe

Asia-Pacific

China

India

Japan

South Korea

Rest of Asia-Pacific

Latin America

Brazil

Rest of Latin America

Middle East and Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

View Additional Related Reports:

Environment Health and Safety (EHS) Market Size @ https://www.emergenresearch.com/industry-report/environment-health-and-safety-market/market-size

Environment Health and Safety (EHS) Market Share @ https://www.emergenresearch.com/industry-report/environment-health-and-safety-market/market-share

Environment Health and Safety (EHS) Market Trends @ https://www.emergenresearch.com/industry-report/environment-health-and-safety-market/market-trends

Environment Health and Safety (EHS) Regional Market Demand @ https://www.emergenresearch.com/industry-report/environment-health-and-safety-market/regional-market-demand

Environment Health and Safety (EHS) Market Analysis @ https://www.emergenresearch.com/industry-report/environment-health-and-safety-market/market-analysis

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