New Delhi, Feb. 06, 2025 (GLOBE NEWSWIRE) — As detailed in the latest research from Astute Analytica, the global environment health and safety market was valued at US$ 7.3 billion in 2023 and is projected to hit the market valuation of US$ 15.9 billion by 2032 at a CAGR of 9.1% during the forecast period 2024–2032.
The Environmental Health & Safety (EHS) market has demonstrated remarkable resilience, maintaining strong demand for its products and services despite the recent uncertainties stemming from broader macroeconomic and geopolitical challenges. This stability has positioned EHS companies at a pivotal intersection between heightened government spending, particularly through initiatives, such as the Inflation Reduction Act (IRA), and a robust growth trajectory in energy demand.
A notable development occurred in March when the U.S. Department of Energy (DOE) announced a significant investment of up to $6 billion to fund 33 projects aimed at decarbonizing energy-intensive industries. This initiative not only seeks to mitigate environmental impacts but also aims to enhance the competitiveness of the nation’s manufacturing sector.
As infrastructure projects and manufacturing revitalization take center stage, regulatory compliance, and sustainability have emerged as critical priorities for businesses across various sectors, particularly within the Commercial and Industrial Construction and Manufacturing markets. Companies operating in regions such as the U.S., Canada, the UK, and Australia face stringent regulations regarding wastewater treatment and industrial waste disposal.
In Canada, for instance, the National Pollutant Release Inventory (NPRI) mandates strict reporting and compliance. However, the Toxics Release Inventory (TRI) in the U.S. and the National Pollutant Inventory (NPI) in Australia impose similar requirements. The establishment of these rigorous norms is expected to drive significant growth in the EHS market during the projected period, as organizations invest in solutions to ensure compliance and minimize their environmental impact.
In Germany, key industries such as chemical manufacturing, automotive production, mechanical engineering, and electrical engineering play a vital role in the EHS landscape. The country’s commitment to government-backed clean energy investments, coupled with a resurgence in the oil and gas sectors, is anticipated to create substantial opportunities for EHS market players.
These developments not only promise to enhance revenue streams but also pave the way for strategic mergers and acquisitions (M&A) within the industry. As companies seek to bolster their capabilities and expand their market presence, the intersection of regulatory demands and the pursuit of sustainability will continue to shape the EHS market.
Digital Transformation: Offering Potential for the Market Growth
The Environment, Health, and Safety (EHS) market is currently experiencing a significant digital transformation. The integration of cloud-based software, mobile applications, and an increasing reliance on sensors and wearables is redefining traditional practices. In 2023, data from Astute Analytica revealed that cloud-based deployments accounted for over 60% of the market’s revenue, a trend expected to continue as the advantages of these solutions become increasingly evident. The projection indicates a remarkable compound annual growth rate (CAGR) of 9.3% through 2032 for cloud-based EHS solutions, highlighting their superiority over conventional on-premise systems in terms of flexibility, scalability, and cost-effectiveness.
A 2023 report by Verdantix emphasized that 72% of EHS decision-makers are planning to increase their investments in EHS software within the next two years. This shift indicates a strong trend towards adopting digital EHS tools, which promise to enhance operational efficiency, improve decision-making processes, and bolster risk mitigation efforts. As businesses recognize the value of advanced EHS solutions, the demand for innovative technologies is likely to grow, paving the way for more streamlined operations and better compliance with health and safety regulations.
Central to this digital evolution are EHS software platforms that offer centralized data management, streamlined processes, and real-time insights. Companies can now track incidents, manage inspections, automate compliance reporting, and analyze trends with unprecedented ease. The incorporation of mobile applications plays a crucial role in empowering frontline workers, allowing them to report hazards, conduct audits, and access vital safety information directly from the field. This immediacy not only enhances safety protocols but also fosters a culture of accountability among employees.
Moreover, the integration of wearables and Internet of Things (IoT) sensors is revolutionizing workplace safety by enabling continuous monitoring of workers’ exposure to various risks such as noise, chemicals, and ergonomic hazards. For instance, leading companies like Caterpillar and Shell are pioneering smart helmets and wearable sensors to track worker fatigue, prevent collisions with heavy machinery, and monitor exposure to hazardous substances. These advancements exemplify how technology is harnessed to create safer working environments and improve overall health and safety outcomes in various industries. As the EHS market continues to evolve, the emphasis on digital solutions is expected to grow, further enhancing the safety and well-being of workers worldwide.
Environmental Management Majorly Adopt Environment, Health, and Safety
In 2023, the environmental management sector emerged as a crucial player in the global market, accounting for an impressive 44.1% of total market revenue. This significant share reflects a growing recognition of the importance of sustainable practices among businesses across various industries. As concerns regarding climate change and environmental degradation continue to escalate, organizations are increasingly prioritizing sustainability initiatives. This shift in focus is not merely a trend; it represents a fundamental change in how businesses operate and engage with their environments.
The mounting pressure from regulatory bodies and the undeniable impacts of climate change have compelled companies to adopt robust Environmental, Health, and Safety (EHS) solutions. These solutions are designed to help organizations effectively manage their environmental footprints while ensuring compliance with an ever-evolving landscape of regulations. As governments and organizations worldwide implement stricter environmental policies, companies find themselves needing to adapt quickly to meet these demands. The urgency to act is further amplified by public scrutiny, as consumers become more aware of corporate practices and their implications for the planet.
Investors and stakeholders are increasingly prioritizing sustainability when evaluating companies for potential support. They are more inclined to favor organizations that demonstrate a genuine commitment to long-term environmental health. This trend is reshaping investment strategies, as investors recognize that sustainable practices can lead to greater resilience and profitability in the face of environmental challenges. Companies that proactively engage in sustainable practices and communicate their environmental initiatives are likely to attract more investment and support.
Top Players in Global Environment Health and Safety Market
Market Segmentation Overview
By Component
By Deployment
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On-Premises
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Cloud
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By Enterprise Size
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SMEs
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Large Enterprises
By Application
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Occupational Health & Safety
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Community Health & Safety
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Construction & Decommissioning
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Others
By Industry
By Region
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North America
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Europe
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Asia Pacific
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Middle East & Africa
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South America
For more information about this report visit: https://www.astuteanalytica.com/industry-report/environment-health-and-safety-market
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CONTACT: Contact Us: Astute Analytica Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) For Sales Enquiries: [email protected] Website: https://www.astuteanalytica.com/
