NEW YORK, April 3, 2018 /PRNewswire/ -- The Environment, Health, and Safety (EHS) market is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.1% during the forecast period.
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The global EHS market is expected to grow from USD 4.36 billion in 2017 to USD 7.38 billion by 2022, at a CAGR of 11.1%
during the forecast period. Stringent government regulations and guidelines; rising awareness about EHS among employees and organizations; and increasing number of accidents, especially in mining, energy, construction, and chemical industries are some of the factors contributing to the growth of the global EHS market. Increasing investments in EHS by end users are expected to further drive the market growth. Complex standards and regulations, poor implementation of regulations, and lack of corrective actions are the major factors restricting the growth of the EHS market.The analytics services segment is expected to grow at the highest CAGR during the forecast period.Analytics services are being rapidly adopted by developing regions, such as APAC, Latin America and MEA.These services help organizations in aggregating data from multiple resources and analyzing it for expanding profit margins.Once the data is uploaded into the EHS analytics system, organizations can view the data in a customizable dashboard, share the data with other organizations, and import the data into an excel sheet to build their own reports.Primarily, EHS analytics services are cloud-based, and there is no need to connect these services to any external hardware.Contractors, suppliers, and other stakeholders can view and report their data with the help of analytics services.The energy and utilities vertical is expected to account for the largest market share in the EHS market during the forecast period.In the MEA and APAC regions, the energy and utilities vertical is expected to grow at the highest CAGR.The vertical has witnessed significant adoption of EHS solutions, because of the evolving EHS laws, regulations, and standards.EHS solutions ensure regulatory compliance, mitigate operational risks, quantify and report air emission from utility or energy system processes.The EHS solutions also include sustainability tracking, which takes care of customized KPIs and business metrics.In addition, EHS solutions comprise an executive dashboard, which helps professionals manage the environmental performance, onsite incidents, and energy and utilities use.Asia Pacific (APAC) is projected to grow at the highest rate during the forecast period.APAC is expected to witness significant growth and is projected to be the fastest growing region in the EHS market.The region has witnessed the advanced and dynamic adoption of new technologies, and it has always been a lucrative market.APAC is expected to be one of the fastest growing markets, as governments in the region are investing in R&D of EHS solutions and services. Japan and Australia have witnessed the heavy adoption of EHS solutions, owing to stringent rules of government toward the safety and security of workers.In the process of determining and verifying the market size of several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The breakup of the profiles of the primary participants is as follows: By Company: Tier 1 30 %, Tier 2 40%, and Tier 3 30% By Designation: C-Level 72%, Director Level 14%, and Others 14% By Region: North America 57%, Europe 14%, APAC 29%The EHS market includes major vendors, such as SAP (Germany), Enablon (US), EtQ (US), Intelex (Canada), Gensuite (US), Enviance (US), Cority (Canada), Verisk 3E (US), VelocityEHS (US), Optial (UK), Sphera Solutions (US), and SiteHawk (US).Research Coverage:The report includes an in-depth competitive analysis of the key players in the EHS market along with their company profile, recent developments, and key market strategies. The report segments the EHS market by component (solutions and services), vertical, and region.Reasons to Buy the Report:The EHS market has been segmented on the basis of component (solutions and services), services, vertical, and region.The report will help market leaders/new entrants in the EHS market in the following ways:1. The overall EHS market revenue stream has been estimated based on the revenues of the vendors offering EHS solutions and services. It is inclusive of analytics services; project deployment and implementation services; audit, assessment, and regulatory compliance services; business consulting and advisory services; certification services; and training and support services. The report provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further split into regions.2. The report will help the stakeholders understand the pulse of the market and provides them information on the key market drivers, restraints, challenges, and opportunities.3. The report will help the stakeholders understand their competitors and gain more insights to improve their market position. The competitive landscape section includes the competitor ecosystem, new product developments, partnerships, and mergers and acquisitions related to the EHS market.Read the full report: https://www.reportlinker.com/p05369874
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