Dublin, Aug. 16, 2021 (GLOBE NEWSWIRE) -- The "Global Environment, Health & Safety (EHS) Market by Component (Software & Services (Project Deployment & Implementation, Audit, Assessment, Regulatory Compliance)), Deployment Mode (Cloud, On-premises), Vertical, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global EHS market is expected to grow USD 6.3 billion in 2021 to USD 8.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period.
Every organization or workplace is associated with some or the other form of risks, where the nature and intensity of the harm caused due to the accidents vary according to the nature of the industry. Hence, it has become necessary for every industry vertical to adhere to government guidelines and stringent regulations for enhancing the safety of the environment and its employees. The governing bodies and regional federal agencies are proactively mandating the implementation of EHS software across industry verticals to adhere to the environmental and occupational safety standards.
By deployment mode, the cloud segment to grow at the higher CAGR during the forecast period
EHS solution can be deployed on customer premises using the on-premises or cloud-based deployment mode. With advancements in technology, enterprises are seen to prefer the cloud-based EHS as they offer various benefits, such as a pay-per-use model, flexibility, speed in accessibility, and low installation and maintenance costs.
SMEs prefer adopting cloud-based EHS software solution due to their budget constraints. Adoption of the on-premises solutions requires a separate infrastructure, maintenance charges, and a dedicated resource team. These factors are expected to trigger the adoption of cloud-based solutions among SMEs.
By vertical, energy and utilities segment to hold the largest market size during the forecast period
The energy and utilities vertical has witnessed the significant adoption of EHS software solutions because of the evolving EHS laws, regulations, and standards. EHS software solutions ensure regulatory compliances, mitigate operational risks, and quantify and report air emissions from utilities or energy system processes. These solutions also include sustainability tracking, which takes care of customized KPIs and business metrics. In addition, EHS software solutions comprise an executive dashboard, which helps professionals manage environmental performance, onsite incidents, and energy and utilities use. The energy and utilities vertical primarily includes natural gas, oil, nuclear power, coal, renewable energy, electricity, water, waste, and recycling sectors.
By region, Asia Pacific to grow at the highest CAGR during the forecast period
APAC constitutes thriving economies, such as Singapore, Japan, China, India, and Australia, which are expected to register high growth rates in the EHS market. It is expected to witness the highest CAGR during the forecast period. China has witnessed immense industrial growth and is the manufacturing capital of the world. Its government is getting stricter with EHS regulations and compliances. The Social Science Research Council (SSRC) started a program called China Environment and Health Initiative, generating new research on the connection between health, environment, and development in China.
Similarly, countries such as India, Australia, and Japan are also taking several initiatives to implement the EHS solutions. The Government of India and the labor departments of the states and union territories in the country are responsible for the safety and health of workers. The Directorate General of Mines Safety (DGMS) and Directorate General Factory Advice Services and Labor Institutes (DGFASLI) assist the ministry in the technical aspects of OSH in mines, factories, and ports. The Government of Australia is also following the Work Health and Safety Act 2011, which includes all the necessary rules and regulations of EHS.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Brief Overview of the EHS Market
4.2 North American Market, by Component and Deployment Mode
4.3 European Market, by Component and Deployment Mode
4.4 Asia-Pacific Market, by Component and Deployment Mode
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in Government Initiatives to Follow Certain Workforce Safety and Environmental Regulations and Standards
5.2.1.2 Digitally Connected Workforce with Connected Wearables for Safe Operations to Improve EHS Management
5.2.1.3 The Need to Improve Risk Visibility by Identifying Hidden Risks Within Organizations and Increase the Transparency of Workflow
5.2.1.4 Proliferation of the Software-As-A-Service Deployment Model
5.2.2 Restraints
5.2.2.1 High Cost Associated with EHS Software Solutions
5.2.3 Opportunities
5.2.3.1 Increase in Government Initiatives for Low Carbon Emission Policies
5.2.3.2 Technological Innovations Helping Various Industries to Achieve Worker Engagement and Adopt Environment, Health, Safety, and Quality Programs
5.2.3.3 Modernization of Industry Infrastructure for Low Carbon Emissions
5.2.4 Challenges
5.2.4.1 Poor Regulatory Frameworks in Developing Countries
5.2.4.2 Lack of Skills and End-To-End Solutions
5.3 Case Study Analysis
5.3.1 Processmap
5.3.2 Intelex
5.3.3 She Software
5.3.4 Isometrix
5.3.5 Gensuite
5.4 Value Chain Analysis
5.5 Ecosystem
5.6 Porter's Five Forces Model
5.7 Patent Analysis
5.8 Average Selling Price Trend
5.9 COVID-19 Market Outlook for the Environment, Health and Safety Market
5.10 Technology Analysis
5.10.1 Artificial Intelligence
5.10.2 Industrial Internet of Things and Big Data
5.11 Regulatory Landscape
5.11.1 Paris Agreement
5.11.2 Kyoto Protocol
5.11.3 Doha Amendment
5.11.4 UK Climate Change Act 2008
5.11.5 GHG Emission Categories
5.11.5.1 Scope 1 Emission
5.11.5.2 Scope 2 Emission
5.11.5.3 Scope 3 Emission
5.11.6 Target 2030: Carbon Emission Reduction
5.11.7 Workplace Safety Law
5.11.8 Health and Safety at Work Act
5.11.9 Occupational Safety and Health Act
5.11.10 Small Business Regulatory Enforcement Fairness Act
5.11.11 General Data Protection Regulation
5.11.12 Health Insurance Portability and Accountability Act
5.11.13 ISO 45001:2018
5.11.14 International Labour Organization
5.11.15 National Institute for Occupational Safety and Health
5.11.16 National Safety Council
6 Environment, Health and Safety Market, by Software Feature
6.1 Health and Safety Management
6.2 Environmental and Sustainability Management
6.3 Waste Management
6.4 Energy and Water Management
6.5 Air Quality and Compliance Management
6.6 Incident and Risk Management
6.7 Industrial Hygiene Management
7 EHS Market, by Component
7.1 Introduction
7.1.1 Component: Market Drivers
7.1.2 Component: COVID-19 Impact
7.2 Software
7.3 Services
7.3.1 Analytics
7.3.2 Project Deployment and Implementation
7.3.3 Business Consulting and Advisory
7.3.4 Audit, Assessment, and Regulatory Compliance
7.3.5 Certification
7.3.6 Training and Support
8 Environment, Health and Safety Market, by Deployment Mode
8.1 Introduction
8.1.1 Deployment Mode: Market Drivers
8.1.2 Deployment Mode: COVID-19 Impact
8.2 Cloud
8.3 On-Premises
9 Environment, Health and Safety Market, by Vertical
9.1 Introduction
9.1.1 Verticals: Market Drivers
9.1.2 Verticals: COVID-19 Impact
9.2 Energy and Utilities
9.3 Chemicals and Materials
9.4 Healthcare
9.5 Construction and Engineering
9.6 Food and Beverage
9.7 Government and Defense
9.8 Others
10 Environment, Health and Safety Market, by Region
11 Competitive Landscape
11.1 Overview
11.2 Market Evaluation Framework
11.3 Key Market Developments
11.3.1 Product Launches
11.3.2 Deals
11.4 Market Share Analysis of Top Players
11.5 Historical Revenue Analysis
11.6 Company Evaluation Quadrant
11.6.1 Star
11.6.2 Emerging Leaders
11.6.3 Pervasive
11.6.4 Participant
11.6.5 Product Portfolio Analysis of Top Players
11.7 Company Market Ranking Analysis
11.8 Startup/SME Evaluation Matrix Methodology and Definitions
11.8.1 Progressive Companies
11.8.2 Responsive Companies
11.8.3 Dynamic Companies
11.8.4 Starting Blocks
12 Company Profiles
12.1 Major Players
12.1.1 VelocityEHS
12.1.2 Enablon
12.1.3 Intelex
12.1.4 Gensuite
12.1.5 Cority
12.1.6 Sphera
12.1.7 Sai Global
12.1.8 Quentic
12.1.9 UL
12.1.10 Processmap
12.1.11 SAP
12.1.12 Alcumus
12.1.13 SHE Software
12.1.14 Ecoonline
12.1.15 Ideagen
12.1.16 ETQ
12.1.17 Verisk 3E
12.1.18 Dakota Software
12.1.19 Isometrix
12.1.20 Enhesa
12.2 Start-Up/SME Players
12.2.1 Visiumkms
12.2.2 Safetyculture
12.2.3 Prontoforms
12.2.4 Compliancequest
12.2.5 Safetysite
12.2.6 Pro-Sapien
12.2.7 SheQX
13 Adjacent/Related Markets
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/nq2hs8
