Unlocking Opportunities: Environmental Health and Safety Market Set for $15.9 Billion Boom by 2032 – Insights from Environment+Energy Leader

The Environmental Health and Safety (EHS) market is on the rise. It is expected to grow from $7.3 billion in 2023 to $15.9 billion by 2032, with a growth rate of 9.1% each year. This growth is mainly due to tighter regulations, a focus on sustainability, and the use of digital technologies.

Governments around the world are tightening rules on environmental and safety practices. This forces companies to adopt EHS solutions to stay compliant. For instance, the U.S. Inflation Reduction Act and Canada’s National Pollutant Release Inventory (NPRI) are significant regulations pushing businesses towards better practices. Additionally, the U.S. government’s $6 billion investment in projects targeting decarbonization showcases the commitment to sustainability.

Industries like construction, manufacturing, and energy feel this pressure most. They must meet emission targets and improve safety measures. In Germany, the focus on clean energy and the growth of the oil and gas sector are creating a high demand for EHS solutions.

Digital transformation is reshaping the EHS landscape. Cloud-based EHS solutions took the lead in 2023, making up over 60% of the market’s revenue. These solutions are expected to grow at an impressive rate of 9.3% until 2032. Businesses are now integrating technology like artificial intelligence, Internet of Things (IoT) monitoring, and mobile applications. These tools help in managing compliance and risks more effectively.

A report from Verdantix in 2023 revealed that 72% of EHS leaders plan to boost their spending on software solutions in the next two years. This highlights a trend toward digital tools that make reporting easier and enhance operational efficiency.

Several key companies are leading this market growth, including:

• AECOM Corp
• CH2M HILL, Inc.
• Cority Software Inc.
• Dakota Software Inc.
• Enablon Corp.
• Intelex Technologies Inc.
• ProcessMAP
• Sphera
• SAP SE
• Velocity EHS Holdings Inc.

These players are harnessing the power of AI, cloud computing, and IoT to improve risk management and ensure environmental compliance.

Looking ahead, the future of the EHS market relies on the ongoing digital transformation, regulatory demands, and a commitment to sustainability. As companies focus more on compliance, risk management, and the safety of their workforce, investments in EHS technologies will likely increase. With a strong industry push, we can expect growth across various sectors like oil and gas, pharmaceuticals, and food processing, continuing robust expansion through 2032.