A new report by MarketsandMarkets™ forecasts a significant rise in the Environment, Health and Safety (EHS) Market, reaching a projected value of USD 11.5 billion by 2029. This translates to a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period (2024-2029).

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Why the Environment, Health, and Safety Market Growth?

Several key factors are driving this market expansion:

EHS as a Business Priority: Companies are increasingly recognizing EHS as a critical component for achieving various business objectives. It's not just about compliance anymore, but also about risk management, sustainability, cost reduction, and brand reputation. Strong EHS practices lead to increased productivity, employee morale, and profitability.
Software Takes the Lead:

The software segment holds the largest market share, offering solutions to identify hazards, manage safety data, monitor worker health, and analyze risks. This proactive approach helps businesses prevent accidents and ensure compliance with evolving regulations.

Analytics on the Rise:

The analytics services segment is projected for the highest growth. EHS analytics platforms aggregate data from various sources, providing valuable insights for better decision-making. Companies can identify trends, predict hazards, and optimize resource allocation to proactively manage environmental impacts.

Asia Pacific: A Region of Opportunity

This region is expected to witness the fastest growth due to several factors:

Rapidly Growing Economies: Countries like India, China, Japan, Australia, and New Zealand are experiencing economic booms, leading to increased adoption of EHS solutions.
Stricter Regulations: Governments are implementing stricter regulations, particularly in industries like chemicals and energy, driving the need for EHS tools.
Focus on Sustainability: Initiatives like China's Environment and Health Initiative highlight the growing importance of environmental protection.
Top EHS Companies

The report identifies prominent players like VelocityEHS, Wolters Kluwer, Intelex Technologies, Benchmark ESG, Cority Software, Sphera, Intertek, Quentic, UL Solutions, and Ideagen.

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