Environmental, Health & Safety Market Worth $9.4 Billion by 2027 – Exclusive Report by MarketsandMarkets™
CHICAGO, October 31, 2022 /PRNewswire/ — According to a research report “environment, health and safety market by component (software and services [Project Deployment and Implementation Services, Audit, Assessment and Regulatory Compliance]), Deployment Mode (Cloud, On-Premise), Vertical, and Regional – Global Forecast to 2027″ released by MarketsandMarkets, the global EHS market size is expected to grow from $6.7 billion in 2022 at $9.4 billion by 2027 at a CAGR of 7.0% over the forecast period. The proliferation of the software-as-a-service deployment model is driving the growth of the EHS market.
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The software segment is estimated to dominate the EHS market in 2022
EHS software vendors enable various software features to meet the requirements of their business customers. These features include environmental and occupational health management, energy and water management, waste management, air quality and compliance management, security, incident and risk management, fire safety and inventory management. In addition to these major features, EHS software offers employee engagement, chemical management, safety program management, and product management.
The cloud segment is expected to grow into a larger market over the forecast period
The cloud deployment mode offers greater data control, as well as reduced risk of data loss and regulatory compliance concerns. Due to these advantages, several companies prefer to use the cloud to provide security. Choosing the cloud deployment type to deploy container security entirely depends on business needs and user requirements. Deploying in the cloud provides businesses with increased scalability, speed, 24/7 service, and IT security. The adoption of cloud-based solutions is growing at a good pace and the trend is expected to increase over the forecast period.
The construction and engineering sector is expected to witness a higher growth rate during the forecast period
The construction and engineering sector includes solutions such as incident management, audit and inspection, waste management, on-demand training and compliance management. EHS software helps keep construction sites safe and helps manage EHS activities that are critical to keeping construction project schedules and workforces in compliance by minimizing adverse environmental impact , people and society.
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Asia Pacific is expected to grow at the fastest growth rate over the forecast period
Asia Pacific constitute flourishing economies such as India, Australiaand Japan. Some governments of Asia Pacific region have taken the necessary initiatives and established chemicals and product regulations as well as environmental, health and safety policy frameworks to prevent risks that may be caused to the environment and human health . China The National Chemicals Registry Center has launched an online platform called the Hazardous Chemicals Online Safety Information System that allows companies to search for information on hazardous chemicals. This information includes identification; security labeling elements; physical characteristics; hazard information; emerging measures; and inventories.
The main suppliers covered by the environment, health and safety market include VelocityEHS (US), Wolters Kluwer (Netherlands), Intelex Technologies (Canada), Cority Software Inc. (Canada), ESG benchmark (India), Sphere (India), Intertek (UK), Quentic GmbH (Germany), UL Solutions (US), Alcumus (UK), Evotix (UK), VisiumKMS (US), Ideagen (UK), EcoOnline AS (Norway), Diligent Corporation (US), ETQ (US), Dakota Software Corporation (US), ProcessMAP (US), SafetyCulture (Australia), ProntoForms(Canada), 3E (US), Enhesa (US), SHEQX (Australia), IsoMetrix (US), SAP (Germany), Pro-Sapien (UK), SafetySite (Denmark), CMO Software (UK), ComplianceQuest (US), Indus Environmental Services (India), Beginning (Japan), ASK-EHS Engineering (India), Al Sahraa Group (UAE), SHE Group (South Africa), EHS Brazil (Brazil), and IVEMSA (Mexico).
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