The global EHS market size to grow at a CAGR of 10.2% during the forecast period
The global Environment, Health and Safety (EHS) market size is expected to grow from USD 5.3 billion in 2019 to USD 8.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 10.2% during the forecast period. To reach new levels of efficiency, accuracy, and security, organizations need real-time visibility and stability in business operations. Hence, the demand for EHS solution and services in increasing rapidly. The increasing business demand to enhance operational efficiency and stability is expected to make EHS a dominant model for organizations across all verticals in the near future.
Solution segment to lead the market in 2019
EHS solution providers enable various features in the EHS software to meet the requirements of their commercial clients. These features include environmental and occupational health management, energy and water management, waste management, air quality and compliance management, safety management, incident management and risk management, fire safety, and inventory management. Other than these major features, the EHS solution also offers employee engagement, chemical management, security program management, and product stewardship
Project deployment and implementation services to lead the EHS market in 2019
Project deployment and implementation services are provided during the deployment and implementation of an EHS solution. The successful implementation of EHS solution requires a thorough review of the organizational structures and processes, accurate migration of legacy data, and a well-organized deployment plan. During project deployment, these services help review the organizational structure and configuring site-specific profiles with proper roles and permissions based on unique EHS processes.
North America to lead the EHS market in 2019
North America leads in the adoption of EHS and provides great opportunities for the growth of the overall market. The region has always been an early adopter of new technology or software, and the North American market grows at a faster rate initially as compared to any other region. North America comprises the US and Canada. The US and Canada have sustainable and well-established economies, which empower them to invest strongly in Research and Development (R&D) activities, thereby contributing to the development of new technologies. The major reason behind the strong development of the EHS market can be attributed to the stringent rules and regulations followed by the US and Canada governments.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the EHS market.
The following list provides the breakup of primary respondents’ profiles:
- By Company Type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
- By Designation: C-level Executives: 35%, Director Level: 25%, and Others: 40%
- By Region: North America: 45%, Europe: 20%, Asia Pacific (APAC): 30%, and Rest of the World: 5%
Major vendors in the global EHS market include Enablon (France), VelocityEHS (US), Intelex (Canada), Gensuite (US), Cority (Canada), Quentic (Germany), Sphera (US), Enviance (US), ETQ (US), UL (US), SAP (Germany), DNV GL (Norway), SAI Global (US), Verisk 3E (US), Dakota Software (US), ProcessMAP (US), IsoMetrix (South Africa), Airsweb (England), SafetyCulture (Australia), ProntoForms (Canada), and Enhesa (US).
The report includes an in-depth competitive analysis of key players in the EHS market, along with their company profiles, recent developments, and key market strategies. The report segments the global EHS market by component, service, deployment mode, vertical, and region.
Key benefits of buying the report:
- The report would provide market leaders/new entrants in the EHS market, with information on the closest approximations of the revenue numbers for the overall EHS market and subsegments.
- The report would help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It further helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.