Environment, Health, and Safety Market by Offering (Software and Services (Analytics, Project Deployment and Implementation, Audit, Assessment, and Regulatory Compliance, Certification)), Application, Vertical & Region - Global Forecast to 2029
The environment, health, and safety market is estimated to be USD 7.9 billion to USD 11.5 billion at a CAGR of 7.6% from 2024 to 2029. Deploying EHS software solutions using mobile and cloud technologies has helped several organizations meet complex EHS challenges. These mobile and cloud solutions offer enterprises the pay-as-you-go service model, which allows enterprises to optimize cost and budgetary compliances. Therefore, the increasing adoption of cloud-based platforms drives the growth of the EHS market globally.
Scope of the Report
Years Considered for the Study
2018-2029
Base Year
2023
Forecast Period
2024-2029
Units Considered
Value (USD Million/USD Billion)
Segments
By Offering (software and services), Application, Vertical and Region
Regions covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
"The energy and utilities vertical segment will contribute the largest market share in the environment, health, and safety market during the forecast period."
The energy and utilities sector has observed a notable uptake in EHS software solutions due to evolving laws, regulations, and standards. These solutions ensure compliance with rules, mitigating operational risks and accurately reporting air emissions from energy system processes. Given the inherent hazards associated with energy production, transmission, and distribution, companies in this vertical prioritize safety measures, regulatory adherence, and environmental responsibility. EHS initiatives encompass a range of activities, including safety training, hazard identification, environmental monitoring, emergency readiness, and community engagement. From power plants and oil and gas facilities to utility maintenance operations, EHS programs aim to prevent accidents, minimize environmental impact, and foster a safety and sustainability culture.
"Asia Pacific will register the highest growth rate during the forecast period."
The Asia Pacific region is set to undergo significant growth opportunities in the coming years, with countries like India, China, Australia, and New Zealand expected to experience high growth rates. As countries in Asia Pacific continue to undergo rapid industrialization and urbanization, there is a growing recognition of the importance of ensuring the health, safety, and well-being of workers and the surrounding environment. This heightened awareness is driving governments and regulatory bodies to introduce and enforce stricter workplace safety regulations and environmental standards. Governments across the Asia Pacific are implementing stricter environmental and safety regulations. Some examples include China's revised law on Chemical Classification and Labeling and India's amendments to its Hazardous Waste Management Rules (2016). Companies must comply with these regulations to avoid penalties and operational disruptions, driving investment in EHS solutions and practices.
Breakdown of primaries
The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:
By Company Type: Tier 1 - 35%, Tier 2 - 40%, and Tier 3 - 25%
By Designation: C-level -35%, D-level - 25%, and Managers - 40%
By Region: North America - 40%, Europe - 20%, Asia Pacific - 30%, Middle East & Africa- 5%, and Latin America- 5%.
The major players in the environment, health, and safety market are VelocityEHS (US), Wolters Kluwer (Netherlands), Intelex Technologies (Canada), Benchmark ESG (US), Cority Software Inc. (Canada), Sphera (US), Intertek (UK), Quentic (Germany), UL Solutions (US), Ideagen (UK), SAP (Germany), IBM (US), Evotix (UK), EcoOnline (Norway), Diligent Corporation (US), ETQ (US), 3E (US), Dakota Software Corporation (US), IsoMetrix (US), Enhesa (US), VisiumKMS (US), SafetyCulture (Australia), TextContext (Canada), ComplianceQuest (US), Pro-Sapien (UK), SHEQX (Australia), CMO Software (UK), Indus Environmental Services (India), Inicia (Japan), ASK-EHS Engineering (India), SHE Group (South Africa), and EHS Brazil (Brazil). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, product enhancements, and acquisitions to expand their environmental, health, and safety footprint.
Research Coverage
The market study covers the environment, health, and safety market size across different segments. It aims to estimate the market size and the growth potential across various segments, including offering (software and services (Analytics, Project Deployment and Implementation, Audit, Assessment, Regulatory Compliance, Certification)), applications, verticals, and regions. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the global environment, health, and safety market's revenue numbers and subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market's pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (increase in government initiatives to follow workforce safety and environmental regulations and standards, a digitally connected workforce with connected wearables for safe operations to improve EHS management, the proliferation of software-as-a-service deployment model, and growing recognition of EHS as a strategic business imperative.), restraints (High cost associated with EHS software solutions, lack of qualified EHS professionals, data Silos & Information Gaps), opportunities (Increase in government initiatives for low carbon emission policies, technological innovations to help various industries achieve worker engagement and adopt quality programs, modernization of industry infrastructure for low carbon emissions) and challenges (Technological integration and data management, poor regulatory frameworks in emerging economies, lack of skills and end-to-end solutions) influencing the growth of the environment, health, and safety market. Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product and service launches in the environment, health, and safety market. Market Development: Comprehensive information about lucrative markets - the report analyses various regions' environment, health, and safety markets. Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the environment, health, and safety market. Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like VelocityEHS (US), Wolters Kluwer (Netherlands), Intelex Technologies (Canada), Benchmark ESG (US), Cority Software Inc. (Canada), Sphera (US), Intertek (UK), Quentic (Germany), UL Solutions (US), Ideagen (UK), SAP (Germany), IBM (US), Evotix (UK), EcoOnline (Norway), Diligent Corporation (US).
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKET COVERED
FIGURE 1 MARKET SEGMENTATION
1.3.2 REGIONS COVERED
FIGURE 2 ENVIRONMENT, HEALTH, AND SAFETY MARKET: REGIONS COVERED
1.3.3 INCLUSIONS & EXCLUSIONS
1.4 YEARS CONSIDERED
1.5 CURRENCY CONSIDERED
TABLE 1 USD EXCHANGE RATES, 2021-2023
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
1.7.1 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 3 ENVIRONMENT, HEALTH, AND SAFETY MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary interviews with experts
2.1.2.2 List of key primary interview participants
2.1.2.3 Breakdown of primaries
2.1.2.4 Key data from primary sources
2.1.2.5 Key industry insights
2.2 MARKET SIZE ESTIMATION
FIGURE 4 APPROACH 1 (SUPPLY SIDE): REVENUE OF SOLUTIONS/SERVICES OF ENVIRONMENT, HEALTH, AND SAFETY MARKET PLAYERS
2.2.1 BOTTOM-UP APPROACH
FIGURE 5 MARKET SIZE ESTIMATION USING BOTTOM-UP APPROACH (SUPPLY-SIDE): COLLECTIVE REVENUE FROM ALL SOLUTIONS/SERVICES OFFERED BY MARKET VENDORS
2.2.2 TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
FIGURE 6 DATA TRIANGULATION
2.4 RISK ASSESSMENT
TABLE 2 RISK ASSESSMENT
2.5 RESEARCH ASSUMPTIONS
TABLE 3 RESEARCH ASSUMPTIONS
2.6 LIMITATIONS
2.7 IMPLICATION OF RECESSION ON ENVIRONMENT, HEALTH, AND SAFETY MARKET
3 EXECUTIVE SUMMARY
FIGURE 7 ENVIRONMENT, HEALTH, AND SAFETY MARKET TO WITNESS SIGNIFICANT GROWTH DURING FORECAST PERIOD
FIGURE 8 ENVIRONMENT, HEALTH, AND SAFETY MARKET: HOLISTIC VIEW
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ENVIRONMENT, HEALTH, AND SAFETY MARKET
FIGURE 9 CONFLUENCE OF ECONOMIC, ENVIRONMENTAL, SOCIAL, AND TECHNOLOGICAL FORCES TO FUEL MARKET GROWTH
4.2 ENVIRONMENT, HEALTH, AND SAFETY MARKET, BY KEY SEGMENT
FIGURE 10 SEGMENTS WITH HIGH PROJECTED GROWTH RATE IN 2024
4.3 ENVIRONMENT, HEALTH, AND SAFETY MARKET, BY SERVICE TYPE
FIGURE 11 PROJECT DEPLOYMENT & IMPLEMENTATION SERVICES SEGMENT TO LEAD MARKET IN 2024
4.4 ENVIRONMENT, HEALTH, AND SAFETY MARKET, BY VERTICAL
FIGURE 12 ENERGY & UTILITIES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
4.5 NORTH AMERICA: ENVIRONMENT, HEALTH, AND SAFETY MARKET, BY OFFERING AND KEY VERTICAL
FIGURE 13 SOFTWARE AND ENERGY & UTILITIES SEGMENTS ESTIMATED TO ACCOUNT FOR LARGEST MARKET SHARES IN 2024
5 MARKET OVERVIEW AND INDUSTRY TRENDS
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 14 ENVIRONMENT, HEALTH, AND SAFETY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Increase in government initiatives to follow workforce safety and environmental regulations and standards
TABLE 4 ENVIRONMENTAL REGULATIONS, ACTS, AND LAWS
5.2.1.2 Digitally connected workforce with connected wearables for safe operations to improve EHS management
5.2.1.3 Need to improve risk visibility by identifying hidden risks within organizations and increasing transparency of workflow
5.2.1.4 Proliferation of software-as-a-service deployment model
5.2.1.5 Growing recognition of EHS as strategic business imperative
5.2.2 RESTRAINTS
5.2.2.1 High costs associated with EHS software solutions
5.2.2.2 Lack of qualified EHS professionals
5.2.2.3 Data silos and information gaps
5.2.3 OPPORTUNITIES
5.2.3.1 Increase in government initiatives for low carbon emission policies
5.2.3.2 Technological innovations to help various industries achieve worker engagement and adopt quality programs
5.2.3.3 Modernization of industry infrastructure for low carbon emissions
5.2.4 CHALLENGES
5.2.4.1 Technological integration and data management
5.2.4.2 Poor regulatory frameworks in emerging economies
5.2.4.3 Lack of skilled workforce and end-to-end solutions
5.3 ENVIRONMENT, HEALTH, AND SAFETY MARKET: BRIEF HISTORY
FIGURE 15 BRIEF HISTORY OF ENVIRONMENT, HEALTH, AND SAFETY MARKET
5.4 VALUE CHAIN ANALYSIS
FIGURE 16 ENVIRONMENT, HEALTH, AND SAFETY MARKET: VALUE CHAIN ANALYSIS
5.5 ECOSYSTEM
FIGURE 17 KEY PLAYERS IN ENVIRONMENT, HEALTH, AND SAFETY MARKET ECOSYSTEM
TABLE 5 ENVIRONMENT, HEALTH, AND SAFETY MARKET: ECOSYSTEM
5.6 CASE STUDIES
5.6.1 BRUCE POWER OPTIMIZED NUCLEAR POWER GENERATION WITH IBM MAXIMO
5.6.2 HARLEY DAVIDSON USED PROCESSMAP'S EHS SOLUTION TO IMPROVE WORKER SAFETY
5.6.3 AGNICO EAGLE MINES ADOPTED INTELEX'S HEALTH & SAFETY MANAGEMENT SUITE FOR RISK ASSESSMENT
5.6.4 OWENS GROUP USED EVOTIX'S SOLUTION TO MANAGE EMPLOYEE HEALTH AND SAFETY INFORMATION
5.6.5 FRAZER USED VELOCITYEHS' SOLUTION TO MANAGE SAFETY PROGRAM-RELATED INFORMATION
5.7 PORTER'S FIVE FORCES MODEL
FIGURE 18 PORTER'S FIVE FORCES ANALYSIS
TABLE 6 IMPACT OF PORTER'S FORCES ON ENVIRONMENT, HEALTH, AND SAFETY MARKET
5.7.1 THREAT OF NEW ENTRANTS
5.7.2 THREAT OF SUBSTITUTES
5.7.3 BARGAINING POWER OF BUYERS
5.7.4 BARGAINING POWER OF SUPPLIERS
5.7.5 INTENSITY OF COMPETITIVE RIVALRY
5.8 PATENT ANALYSIS
5.8.1 METHODOLOGY
FIGURE 19 MAJOR PATENTS GRANTED FOR ENVIRONMENT, HEALTH, AND SAFETY IN LAST TEN YEARS
5.9 DISRUPTIONS IMPACTING BUYERS/CLIENTS IN ENVIRONMENT, HEALTH, AND SAFETY MARKET
FIGURE 20 ENVIRONMENT, HEALTH, AND SAFETY MARKET: DISRUPTIONS IMPACTING BUYERS/CLIENTS
5.10 PRICING ANALYSIS
5.10.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY SOLUTION
FIGURE 21 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY SOLUTION (USD PER YEAR)
TABLE 7 AVERAGE SELLING PRICE TREND OF KEY PLAYERS
5.10.2 INDICATIVE PRICING ANALYSIS OF KEY PLAYERS, BY SOLUTION & SERVICE
TABLE 8 INDICATIVE PRICING ANALYSIS OF KEY ENVIRONMENT, HEALTH, AND SAFETY SOLUTION & SERVICE VENDORS
5.11 KEY STAKEHOLDERS AND BUYING CRITERIA
5.11.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 22 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR KEY VERTICALS
TABLE 9 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR KEY VERTICALS
5.11.2 BUYING CRITERIA
FIGURE 23 KEY BUYING CRITERIA FOR TOP THREE VERTICALS
TABLE 10 KEY BUYING CRITERIA FOR TOP THREE VERTICALS
5.12 TECHNOLOGY ANALYSIS
5.12.1 KEY TECHNOLOGIES
5.12.1.1 Artificial Intelligence
5.12.1.2 Industrial Internet of Things and Big Data
5.12.1.3 Data Analytics and Visualization
5.12.2 ADJACENT TECHNOLOGIES
5.12.2.1 Sustainability management software and environmental management systems
5.12.2.2 Industrial automation and control systems
5.12.2.3 Geospatial technologies
5.12.3 COMPLEMENTARY TECHNOLOGIES
5.12.3.1 Virtual reality (VR) and augmented reality (AR)
5.12.3.2 Robotics and automation
5.12.3.3 Blockchain
5.13 TARIFF AND REGULATORY LANDSCAPE
5.13.1 TARIFF RELATED TO ENVIRONMENT, HEALTH, AND SAFETY DEVICES
TABLE 11 TARIFF RELATED TO ELECTRICAL APPARATUS FOR SWITCHING OR PROTECTING ELECTRICAL CIRCUITS OR FOR MAKING CONNECTIONS TO OR IN ELECTRICAL CIRCUITS
5.14 REGULATORY LANDSCAPE
TABLE 12 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 13 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 15 REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.14.1 NORTH AMERICA
5.14.2 EUROPE
5.14.2.1 France
5.14.2.2 UK
5.14.3 ASIA PACIFIC
5.14.3.1 China
5.14.3.2 South Korea
5.14.3.3 Japan
5.14.4 MIDDLE EAST & AFRICA
5.14.4.1 UAE
5.14.4.2 Saudi Arabia
5.14.5 LATIN AMERICA
5.14.5.1 Brazil
5.14.5.2 Mexico
5.15 KEY CONFERENCES & EVENTS
TABLE 16 ENVIRONMENT, HEALTH, AND SAFETY MARKET: LIST OF CONFERENCES & EVENTS, 2024-2025
5.16 TECHNOLOGY ROADMAP FOR ENVIRONMENT, HEALTH, AND SAFETY MARKET
5.16.1 SHORT-TERM ROADMAP (2023-2025):
5.16.2 MID-TERM ROADMAP (2026-2028):
5.16.3 LONG-TERM ROADMAP (2029-2030):
5.17 BEST PRACTICES IN ENVIRONMENT, HEALTH, AND SAFETY MARKET
5.18 CURRENT AND EMERGING BUSINESS MODELS
5.19 TOOLS, FRAMEWORKS, AND TECHNIQUES USED IN ENVIRONMENT, HEALTH, AND SAFETY MARKET
FIGURE 24 TOOLS, FRAMEWORKS, AND TECHNIQUES USED IN ENVIRONMENT, HEALTH, AND SAFETY MARKET
5.20 HS CODES: ELECTRICAL APPARATUS FOR SWITCHING OR PROTECTING ELECTRICAL CIRCUITS OR FOR MAKING CONNECTIONS TO OR IN ELECTRICAL CIRCUITS (8535)
5.20.1 EXPORT SCENARIO FOR HS CODE: 8535
FIGURE 25 ELECTRICAL APPARATUS FOR SWITCHING OR PROTECTING ELECTRICAL CIRCUITS OR FOR MAKING CONNECTIONS TO OR IN ELECTRICAL CIRCUITS, BY KEY COUNTRY, 2020-2022 (USD MILLION)
5.20.2 IMPORT SCENARIO FOR HS CODE: 8535
FIGURE 26 IMPORT VALUE OF ELECTRICAL APPARATUS FOR SWITCHING OR PROTECTING ELECTRICAL CIRCUITS OR FOR MAKING CONNECTIONS TO OR IN ELECTRICAL CIRCUITS, BY KEY COUNTRY, 2020-2022 (USD MILLION)
5.21 INVESTMENT AND FUNDING SCENARIO
FIGURE 27 INVESTMENT AND FUNDING SCENARIO
6 ENVIRONMENT, HEALTH, AND SAFETY MARKET, BY OFFERING
6.1 INTRODUCTION
6.1.1 OFFERING: ENVIRONMENT, HEALTH, AND SAFETY MARKET DRIVERS
FIGURE 28 SERVICES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 17 ENVIRONMENT, HEALTH, AND SAFETY MARKET, BY OFFERING, 2018-2023 (USD MILLION)
TABLE 18 ENVIRONMENT, HEALTH, AND SAFETY MARKET, BY OFFERING, 2024-2029 (USD MILLION)
6.2 SOFTWARE
6.2.1 EHS SOFTWARE ENSURES COMPLIANCE AND MINIMIZES RISK OF HEFTY FINES OR OPERATIONAL SHUTDOWN
TABLE 19 SOFTWARE: ENVIRONMENT, HEALTH, AND SAFETY MARKET, BY REGION, 2018-2023 (USD MILLION)
TABLE 20 SOFTWARE: ENVIRONMENT, HEALTH, AND SAFETY MARKET, BY REGION, 2024-2029 (USD MILLION)
6.3 SERVICES
TABLE 21 SERVICES: ENVIRONMENT, HEALTH, AND SAFETY MARKET, BY REGION, 2018-2023 (USD MILLION)
TABLE 22 SERVICES: ENVIRONMENT, HEALTH, AND SAFETY MARKET, BY REGION, 2024-2029 (USD MILLION)
FIGURE 29 ANALYTICS SERVICES SEGMENT TO GROW AT HIGHES CAGR DURING FORECAST PERIOD
TABLE 23 SERVICES: ENVIRONMENT, HEALTH, AND SAFETY MARKET, BY TYPE, 2018-2023 (USD MILLION)
TABLE 24 SERVICES: ENVIRONMENT, HEALTH, AND SAFETY MARKET, BY TYPE, 2024-2029 (USD MILLION)
6.3.1 ANALYTICS SERVICES
6.3.1.1 Need for aggregation and analysis of data from multiple resources to drive growth
TABLE 25 ANALYTICS SERVICES: ENVIRONMENT, HEALTH, AND SAFETY MARKET, BY REGION, 2018-2023 (USD MILLION)
TABLE 26 ANALYTICS SERVICES: ENVIRONMENT, HEALTH, AND SAFETY MARKET, BY REGION, 2024-2029 (USD MILLION)