The “Environment Health Safety” 2022-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period.
The global environment health safety market held a market value of USD 6,210.51 million in 2021 and is estimated to reach USD 13,565.23 million by the year 2030. The market is projected to list a CAGR of 7.64% during the forecast period.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Over the course of the forecast period, increasing government laws for environmental protection, particularly in the U.S. and Europe, are anticipated to boost the growth of the environmental health and safety (EHS) market. Over the past few decades, increasing public concern about environmental issues has resulted in significant changes to the laws governing how corporations affect the environment. The main factor promoting growth is the expansion of government rules in various economies. Industries that deal with hazardous commodities, such energy and chemicals, use environment health and safety services and software to prevent workplace mishaps.
Demand for software and services for emission control, water conservation, waste management, employee safety, monitoring, and numerous other environmental health and safety parameters has rapidly increased as a result of the existence of strict regulations pertaining to environmental protection and occupational health and safety.
Growth Influencers:
Increase in government initiatives to introduce safety and environmental regulations
Due to the sheer number of IT firms and because the Environmental Protection Agency (EPA) has such strict requirements, it is predicted that the need for environment health and safety software would increase quickly. Companies around the nation are boosting their investments in order to improve operational effectiveness and follow the standards set by the Occupational Safety and Health Administration (OSHA). Additionally, the presence of EHS service providers like AECOM Technology Corporation, Tetra Tech, Enablon, and Velocity EHS may help raise awareness, which will likely lead to market expansion.
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Businesses operating in the U.S., Canada, the U.K., and Australia are required to adhere to stringent standards for the treatment of industrial waste and the disposal of wastewater, such as those set forth by the National Pollutant Release Inventory (NPRI) in Canada, the Toxics Release Inventory (TRI) in the U.S., and the National Pollutant Inventory (NPI) in Australia. Growth in the environment, health, and safety market is anticipated to be fueled by the establishment of these strict standards over the forecast period.
Proliferation of the software-as-a-service deployment model
The Resource Conservation and Recovery Act and the Comprehensive Environmental Response Compensation and Liability Act, for example, are environmental standards that are met by firms using the EHS services and software. The EHS software’s features connect the TRI-MEweb interface of the EPA to the emissions data. The strict guidelines created by the Environment Canada/CEPA, EPA/RCRA, and European Hazardous Waste Directive are anticipated to increase demand for EHS software. The high usage of the SaaS model is boosting the market growth.
Segments Overview:
The global environment health safety market is segmented into component, application, industry, enterprise size, and deployment.
By Component,
? Software
? Services
The software segment held an opportunity of more than USD 4,000 million from 2022 to 2030.
By Application,
? Environmental
? Occupational Health & Safety
? Community Health & Safety
? Construction & Decommissioning
? Others
The environment segment held more than 44% of the market share in 2021. The occupational health & safety segment was estimated to grow at the highest CAGR of 9.5% over the anticipated period. It is projected that the capabilities of environment health and safety services and software to help businesses streamline their waste management process will increase demand for these products. Users are quickly becoming more and more accustomed to the EHS applications enabled by smartphones and tablets. The development of EHS mobile applications with features including auditing, reporting incidents, and access to health and safety data on chemicals, inspections, and other topics is ongoing.
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By Industry,
? Manufacturing
? Agriculture
? Transportation
? Construction
? Energy & Mining
? Retail
? Healthcare
? Chemical & Pharmaceuticals
? Oil & Gas
? Food & Beverage Processing
? Others
The chemical and pharmaceutical segment is projected to cross the mark of USD 2,000 million by 2026 in terms of revenue.
By Enterprise Size,
? SMEs
? Large Enterprises
The large enterprise segment held approximately 70% of the market share in 2021.
By Deployment,
? On-premises
? Cloud
The cloud segment is estimated to grow the highest over the forecast period with a growth rate of 9.5%.
Regional Overview
By region, the global environment health safety market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and South America. The North American environment health safety industry held the largest market share of more than 32% in 2021, with a revenue of USD 2,103.9 million. The Asia Pacific market was projected to be the fastest growing with a CAGR of more than 10%.
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Competitive Landscape
The prominent players operating in the global environment health safety market include AECOM Corp, Jacobs (CH2M HILL, Inc), Cority Software Inc., Dakota Software Inc, DNV GL, Enablon Corp., ENVIANCE, Intelex Technologies Inc., ProcessMAP, Sphera, Tetra Tech, Inc, Velocity EHS Holdings Inc., and many others. The market share of the major seven major players is close to 35%. In February 2022, Jacobs has acquired StreetLight Data, Inc., a pioneer of mobility analytics who uses its vast data and machine learning resources to shed light on mobility, enabling users to solve complex transportation problems. Similarly, a new platform called VelocityEHS Accelerate was introduced by VelocityEHS in June 2021. This platform has been created to improve operational excellence, environmental, social, and cooperative governance performance.
The global environment health safety market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global environment health safety market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various components used in the manufacturing of environment health safety
? Manufacturing Cost Analysis: Cost-share of various components in environment health safety tools
? Emerging Innovations for EHS Professionals
The global environment health safety market report answers questions such as:
? What is the market size and forecast of the global environment health safety market?
? What are the inhibiting factors and impact of COVID-19 on the global environment health safety market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the global environment health safety market?
? What is the competitive strategic window for opportunities in the global environment health safety market?
? What are the technology trends and regulatory frameworks in the global environment health safety market?
? What is the market share of the leading players in the global environment health safety market?
? What modes and strategic moves are considered favorable for entering the global environment health safety market?
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