Market Scenario
Environment, health, and safety (EHS) is the study of safety and protection in the work environment. This discipline ensures that organizations work in an environmental-friendly manner, causing no harm to the environment or individuals. EHS department in an organization is concerned with safety at workplace, environmental protection, occupational safety and health, and best practices. The aim of this department is to prevent and reduce emergencies and accidents at work. It also seeks to ensure the protection of workers by controlling and observing the indoor air quality and preventing chemical hazards by lowering workers’ exposure to them. There are several safety programs, practices, and training sessions conducted by organizations to implement EHS.
The major drivers for the EHS Market is the increasing awareness about environment, health, and safety among organizations and their employees. This is owing to the growing number of accidents and emergencies caused at workplace. These accidents take place especially in the energy and utility, chemical, mining, and construction industries. Energy and utility segment accounts for the largest market size, due to the increasing deployment of EHS solutions, along with the evolution of laws and regulations in this vertical. Stringent rules and regulations by the federal bodies and government have also been fueling the EHS market. Over the past decade, major mandates have been made by the government to ensure EHS. For instance, the US government has made federal investments related to EHS in the nanotechnology market. This ensures the development of the technology with responsible science-based guidance, leading to the management of risk at workplace. However, the complexity of standards and regulations is a factor which is hindering the growth of the EHS market.
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Gensuite, a company offering cloud-based software and solutions for EHS, launched a product named Genny in June 2018. This is the company’s first virtual assistance product which enables hands-free Environment Health Safety & Sustainability (EHS&S) actions. Genny is integrated with artificial intelligence which enables the users to complete various actions with text and voice commands and helps to accomplish complex and time-consuming tasks.
The global EHS market is expected to reach approximately USD 8.09 billion growing at 11.50% CAGR over the forecast period 2018–2023.
Key Players:
The prominent players in the market of EHS are – SAP (Germany), EtQ (US), Gensuite (US), Enablon (US), Intelex (Canada), Enviance (US), Verisk 3E (US), Sphera Solutions (US), Cority (Canada), and VelocityEHS (US).
Optial (UK), and SiteHawk (US) are among the other players in this market.
Segmentation
The environment, health, and safety market is segmented on the basis of component, vertical, and region. These segments are further sub-segmented into the following:
- By component, the EHS market is bifurcated into solution and service.
- By service, this market is further segmented into project deployment & implementation services, audit, assessment, regulatory compliance services, data analytics services, business consulting & advisory services, training & support services, and certification services
- By vertical, the EHS market is segmented into energy & utilities, healthcare, food & beverage, chemicals & materials, construction & engineering, government & defense, and others (telecom and IT automotive, and retail)
- By region, North America, Europe, Asia-Pacific are the global segments.
Regional Analysis
The regional analysis of EHS market is considered for North America, Europe, Asia-Pacific, and the rest of the world. North America is dominating the market as US and Canada are well-established economies, heavily investing in research and development activities. These investments are contributing towards the development of new and advanced technologies. Asia-Pacific is expected to be the fastest growing region in terms of CAGR. China, Japan, Australia, and India have also witnessed the adoption of new technologies, and the government in these countries is continuously investing in research and development of the EHS solutions in various organizations. Additionally, Europe is expected to witness a positive growth during the forecast period.
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Target Audience
- EHS service providers
- Consultancy and advisory firms
- EHS solution providers
- System integrators
- Certification and training firms
- Governments
- Regulatory agencies
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