increase in government initiatives to strengthen ehs compliance is driving the Environment Health And Safety (EHS) Market
Technavio analyzes that the Environment Health And Safety (EHS) Market is expected to grow at a CAGR of 9.68% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3935.7 million.There are various factors that contribute to the growth of the market. The Environment, Health, and Safety (EHS) market is experiencing significant growth due in part to increasing government initiatives aimed at strengthening EHS compliance. Regulatory bodies are implementing stricter regulations to protect workers and the environment, leading companies to invest in EHS solutions and technologies. This trend is expected to continue as governments prioritize worker safety and environmental sustainability. Compliance with EHS regulations not only helps organizations mitigate risks but also enhances their reputation and contributes to long-term sustainability.
The Energy and Utilities sector is a significant consumer of Environment, Health, and Safety (EHS) software and services due to increasing investments in this industry and the heightened importance of EHS compliance. Notable vendors in this segment include Cority Software Inc. and Intelex Technologies Inc. Major investing countries, such as India, the US, China, France, Spain, and Germany, are heavily investing in energy and utilities, with global energy investments surging by 10% in 2021 (IEA). China is a leading destination for smart grid solutions. Compliance with EHS standards is crucial in this sector, especially in Exploration & Drilling, Chemical, Electrical, and Emergency Care Training. Companies like Trane Technologies, Enablon, and Enviance offer comprehensive EHS solutions to ensure regulatory adherence and optimize energy consumption.
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Environment Health And Safety (EHS) Market Segmentation
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The EHS market encompasses various offerings, including 'Donesafe' and other EHS services, software providers like Enablon and eVision, and EHS consulting services. Key areas of focus are water quality, audit & inspection, management change, air emission measurement, ergonomics, and corrective actions. Public concerns and environmental issues drive demand, with regulations on oil & gas spills, pollution, and energy consumption shaping the landscape. Exploration & drilling, chemical handling, and mechanical engineering sectors utilize these services. HIS also plays a role in deployment and implementation.
In the realm of business operations, the Environment, Health, and Safety (EHS) market encompasses a significant segment of the IT software industry. Donesafe, amongst other EHS service providers, specializes in delivering comprehensive EHS solutions, integrating water quality management, audit and inspection services, management change processes, chemical management systems, performance metrics analysis, and risk assessment tools. These solutions are essential for businesses to ensure regulatory compliance, minimize risks, and optimize operational efficiency. EHS software providers, such as Donesafe, offer cloud-based platforms that streamline EHS processes, enabling organizations to effectively manage their EHS programs and enhance overall performance.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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