New York, United States, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The Global Environment, Health, and Safety Market Size is to Grow from USD 6.5 Billion in 2022 to USD 13.23 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.3% during the projected period.
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The term environmental, health, and safety management (EHSM) refers to a company's efforts to improve its performance in the areas of environmental, health, and safety (EHS). Environment, health, and safety management is the process of putting processes in place to ensure and improve the safety of people and their surroundings. These processes are critical to meeting and maintaining the organization's overall environmental goals. EHS Management (Environmental, Health, and Safety) is a critical component of the operations of any business. Market growth will be driven by the ability of environmental health and safety services and software to assist businesses in efficiently managing waste generated. Furthermore, the popularity of environmental health and safety mobile applications is rapidly increasing, which is expected to propel the environmental health and safety. However, Businesses with low incomes have been slow to adopt EHS software solutions. High implementation and installation costs are expected to stifle market growth. It is difficult for low-income countries to purchase solutions from other countries and have them installed in their organizations. These solutions' installation and subscription fees have become prohibitively expensive.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Environment, Health, and Safety Market Size, Share, and COVID-19 Impact Analysis, By Component (Software, Services), By Deployment Mode (Cloud, On-premise), By Application (Medical and Pharmaceutical Waste Management, Industrial Waste Management, Wastewater Management, and Others), By End User (Chemicals and Petrochemicals, Energy and Mining, Healthcare, Telecom and IT), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The services segment is expected to grow fastest in the global environment, health, and safety market during the forecast period.
Based on component, the global environment, health, and safety market has been segmented into software, services. Among these, the services segment is expected to grow fastest in the global environment, health, and safety market during the forecast period. Night vision cameras are specialized imaging devices used in numerous industries. They succeed at capturing clear images and videos in low-light and complete darkness. Their applications include home and business security and surveillance, as well as law enforcement nighttime operations.
The cloud segment is expected to grow at the highest pace in the global environment, health, and safety market during the anticipated period.
Based on the technology, the is divided into cloud, on-premise. Among these, the thermal segment is expected to grow at the highest pace in the global Environment, Health, and Safety market during the anticipated period. Thermal imaging can detect heat signatures and provide visibility in complete darkness or stormy conditions. It is widely used in military applications, surveillance, and search and rescue operations, fueling the thermal imaging market.
The industrial waste management segment is expected to grow at the highest pace in the global environment, health, and safety market during the forecast period.
Based on the application, the global environment, health, and safety market is divided into medical and pharmaceutical waste management, industrial waste management, wastewater management, and others. Among these, the segment industrial waste management is expected to grow at the highest pace in the global environment, health, and safety market during the forecast period. Demand for EHS services will be driven by increased pressure on industries to reduce waste and improve process efficiency. Industrial waste management is the most common application, and it is expected to grow at the fastest rate due to strict international industrial waste, transportation, and disposal regulations.
The energy and mining are expected to grow fastest in the global environment, health, and safety market during the forecast period.
Based on end user, the environment, health, and safety market has been segmented into chemicals and petrochemicals, energy and mining, healthcare, and telecom and IT. Among these, energy and mining segment is expected to grow fastest in the global environment, health, and safety market during the forecast period. EHS services related to occupational health and safety, as well as employee safety, are provided by market participants. OSHA regulations require businesses to keep an electronic record of workplace accidents and incidents. The increasing number of employee safety regulations in the energy and mining sectors is expected to drive market growth.
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North America dominates the market with the largest market share over the forecast period.
North America is projected to hold the largest share of the global environment, health, and safety market over the forecast period. The US and Canadian economies are stable and well-established, allowing them to invest heavily in R&D activities that contribute to the development of new technologies. The strict rules and regulations imposed by the governments of the United States and Canada are a major contributor to the EHS market's rapid expansion.
Europe is expected to grow the fastest in the global environment, health, and safety market during the anticipated time frame. The European market is rapidly adopting environmental, health, and safety (EHS) services and software to phase out the current take-make-dispose model, maximize raw materials, and reduce waste production. EU-OSHA and the European Environment Agency (EEA) created the laws governing health, safety, consumer protection, and environmental protection.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Environment, Health, and Safety Market AECOM, Jacobs, Intelex Technologies, Enablon, Tetra Tech, Inc., SAP SE, Golder Associates, SGS SA., ERM Group, Inc., VelocityEHS, John Wood Group PLC, RPS Group, ETQ, and Other Key Vendors.
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Recent Market Developments:
- In August 2022, Partners Group purchased a substantial minority stake in VelocityEHS. This will fuel VelocityEHS's growth and solidify its position as a market leader in the global EHS and ESG software market.
Market Segmentation:
This study forecasts revenue at global, regional, and country levels from 2023 to 2032.
Global Environment, Health, and Safety Market, component Analysis
- Software
- Services
Global Environment, Health, and Safety Market, Deployment Mode Analysis
- Cloud
- On-premise
Global Environment, Health, and Safety Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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