According to a research report "Environment, Health, and Safety Market by Component (Software and Services (Project Deployment and Implementation Services, Audit, Assessment and Regulatory Compliance)), Deployment Mode (Cloud, On-premises), Vertical & Region - Global Forecast to 2027" published by MarketsandMarkets, the global EHS system market size is projected to grow from USD 6.7 billion in 2022 to USD 9.4 billion by 2027, at a CAGR of 7.0% during the forecast period. The proliferation of the software-as-a-service deployment model is driving the growth of the EHS market.
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Software segment is estimated to lead the EHS market in 2022
EHS software providers enable various software features to meet their commercial clients requirements. These features include environmental and occupational health management, energy and water management, waste management, air quality and compliance management, safety management, incident and risk management, fire safety, and inventory management. Besides these major features, the EHS software offers employee engagement, chemical management, security program management, and product stewardship.
Cloud segment is set to emerge as a larger market during the forecast period
The cloud deployment mode offers better control of the data, along with the reduced risk of data loss and concerns related to regulatory compliance. Owing to these benefits, several enterprises prefer cloud usage to ensure safety and security. Opting for the cloud deployment type to deploy container security completely depends on the businesses’ needs and users’ requirements. Cloud deployment provides organizations with increased scalability, speed, 24/7 service, and enhanced IT security. The adoption of cloud-based solutions is growing at a good pace, and the trend is expected to grow during the forecast period.
Construction and engineering vertical is expected to have higher growth rate during the forecast period
The construction and engineering sector includes solutions such as incident management, audit and inspection, waste management, on-demand training, and compliance management. EHS software enables maintaining construction sites safely and helps to manage EHS activities that are essential to maintain the schedule of construction projects and workforce in compliance minimizing the damaging impact on the environment, people, and society.
Asia Pacific is projected to grow at the fastest growth rate during the forecast period
Asia Pacific constitutes thriving economies such as India, Australia, and Japan. Some governments in Asia Pacific region have taken necessary initiatives and have established chemical and product regulations as well as environmental, health and safety policy frameworks for preventing the hazards that can be caused to environment and human health. China’s National Registration Center for Chemicals launched an online platform named Online Safety Information System for Hazardous Chemicals that allows companies to search hazardous chemicals information. This information includes identification; safety label elements; physical characteristics; hazard information; emergent measures; and inventories.
The major vendors covered in the EHS market include VelocityEHS (US), Wolters Kluwer (Netherlands), Intelex Technologies (Canada), Cority Software Inc. (Canada), Benchmark ESG (India), Sphera (India), Intertek (UK), Quentic GmbH (Germany), UL Solutions (US), Alcumus (UK), Evotix (UK), VisiumKMS (US), Ideagen (UK), EcoOnline AS (Norway), Diligent Corporation (US), ETQ (US), Dakota Software Corporation (US), ProcessMAP (US), SafetyCulture (Australia), ProntoForms (Canada), 3E (US), Enhesa (US), SHEQX (Australia), IsoMetrix (US), SAP (Germany), Pro-Sapien (UK), SafetySite (Denmark), CMO Software (UK), ComplianceQuest (US), Indus Environmental Services (India), Inicia (Japan), ASK-EHS Engineering (India), Al Sahraa Group (UAE), SHE Group (South Africa), EHS Brazil (Brazil), and IVEMSA (Mexico).
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