Environmental health & safety (EHS) system is mainly used by companies to ensure employee safety and well-being at the workplace and to monitor environmental balance. Governing bodies and regional federal agencies are proactively implementing EHS across various industry verticals in order to adhere with environmental and occupational safety standards. The software solutions incorporated under EHS include quality & risk assessment, data analytics, cost management, environmental compliance, and energy & carbon management.
Rising awareness about workplace and employee safety coupled with increasing environmental safety efforts have led the EHS market to grow at a substantial pace. The EHS market is expected to advance at a CAGR of 11.7% from 2019 to 2027 reaching a market size of US$ 11,500.5 Mn in 2027, up from US$ 4,729.3 Mn in 2019.
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The EHS market is segmented on the basis of components, end-use industry, and geography. The components segment is classified on the basis of software solutions and services offered. EHS services dominated the global EHS component market and is further expected to maintain its position throughout the forecast period. EHS services have seen extensive deployment across large number of industry verticals globally and have proven to be beneficial.
Based on end-use industry, the market is segmented into chemical & petrochemical, energy & mining, construction, agriculture, transportation, manufacturing, government & public sector, retail, healthcare, and others. Globally, chemical & petrochemical industries have gained significance over the last few decades in major economies such as the U.S., GCC countries, China, Japan, Russia, and Brazil. The Organisation for Economic Co-operation and Development (OECD) is a dedicated intergovernmental organization protecting employee health and the environment by promoting chemical safety across the globe. Some of the member countries under OECD include the U.S., U.K., France, Germany, Mexico, and New Zealand.
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Some of the major players in the global environmental health & safety system market are IHS Inc., 3E Company, International Finance Corporation, Enablon North America Corporation, SAP SE, UL LLC, and Medgate Inc.
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