The global environmental health & safety market size is expected to undergo a period of terrific growth as the increasing frequency of industrial accidents stokes the demand for advanced workplace safety systems. This information is provided by Fortune Business Insights™ in its report, titled “Environmental Health & Safety Market Size, Share & Industry Analysis, By Type (Software, Services), By Application (Medical & Pharmaceutical Waste Management, Industrial Waste Management, Wastewater Management, Others), By End-Use Industries (Chemicals Petrochemicals, Energy & Mining, Healthcare, Telecom & IT, Construction, Manufacturing, Others) and Regional Forecast, 2024-2032”. Environmental health & safety (EHS) refers to a generic set of laws, regulations, professions, and programs designed to ensure the safety and health of employees at a workplace. The demand for effective EHS systems and programs has been steadily rising in the past few years owing to the frequency of industrial accidents and deaths. For example, in March 2020, two workers died at an oil drilling site during an industrial accident in New Mexico, while a worker was killed in another industrial accident at a processing plant in New Jersey. These, and many more such examples, are creating an enormous need for efficient EHS solutions to protect workers’ lives.
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The COVID-19 pandemic has had an unprecedented impact on industrial activities of most industries. The coronavirus is still continuing its rampage around the globe, even as the world enters the last few months of 2020. In such dire circumstances, when economies are getting devastated, Fortune Business Insights™ aims to provide a comprehensive analysis of the coronavirus outbreak on markets related to the satellite and space industries through its well-researched and expert market intelligence reports.
Highlights of the Report:
- Accurate projections of the upcoming market opportunities;
- Comprehensive analysis of the market drivers, trends, and constraints;
- Granular examination of the regional prospects and competitive developments influencing the market; and
- Thorough evaluation of all possible market segments.
Market Driver
Constant Threat to Worker Safety to Fuel Demand for EHS in Oil & Gas Industry
Environmental health & safety frameworks are stringently imposed in the oil & gas industry, where workers are constantly vulnerable to life-threatening accidents. Even though modern technologies and machineries driven by artificial intelligence and machine learning capabilities have enhanced the safety quotient in this industry, the threat of exposure to toxic chemicals and equipment-related accidents remain high. As a result, many organizations and associations have been framing holistic policies to safeguard the workers from all foreseeable threats. For example, the American Petroleum Institute (API) has developed its “Rules to Live By” program, which covers some of the most pivotal safety hazards that pose a risk to the life and health of workers. The API has also instituted a “Call Before You Dig” number backed by the federal government to protect workers from inadvertently hitting utility lines when working on digging projects. Such regulations are providing the necessary fodder for the environmental health & safety market growth.
List of Key Players Covered in the Environmental Health & Safety Market Report:
- ProcessMAP
- EtQ
- Sphera
- Cority
- Intelex
- Enablon
- Dakota Software
- Enviance
- Quentic
- Gensuite
- VelocityEHS
Regional Insights
Asia Pacific to Lead the Market Backed by a Well-established Chemical Industry
Geographically, Asia Pacific is expected to lead the environmental health & safety market share in the upcoming years owing to the strong presence and operations of the chemical industry in China and India. In addition, the speedy expansion of the construction, energy & power, and mining sectors in the region will further boost the EHS market.
In North America, the market is anticipated to enjoy favorable conditions created by the stringent imposition of workplace safety laws in the region. Similar growth drivers will be witnessed in Europe, where the EU’s occupational safety regulations cover a wide range of industries and accidents.
Competitive Landscape
Development of Advanced Solutions for Industrial Safety by Key Players to Fuel Competition
Chief among the focus areas of the key players in this market is the development of cutting-edge environmental health & safety solutions for workers in the manufacturing sector. This sector involves the use of heavy equipment and machineries, which pose a tangible threat to the safety of workers. On the other hand, some players are also developing solutions to ensure worker safety amid the current COVID-19 pandemic.
Industry Developments:
- August 2020: VelocityEHS introduced the Safety Management Solution, its novel software tool designed for the manufacturing industry to function with the utmost safety during the on-going pandemic. The solution will allow users to make decisions based on data, engage workers, and streamline compliance with OSHA’s safety standards.
- June 2020: Enablon and EY announced the launch of Project Emerge, a collaborative effort of the two companies to provide businesses with a comprehensive environmental health & safety solution to tackle workplace safety challenges created by the coronavirus. Project Emerge is a cloud-based solution for companies to safely resume their operations and to ensure safe return of employees to the physical workplace.
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