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Environment, Health, and Safety Market worth $11.5 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, April 4, 2024 /PRNewswire/ — Technology innovation, sustainability integration, challenges with regulatory compliance, health and safety priorities, supply chain resilience, data-driven decision-making, and workforce skills development will define the future of the EHS market and position EHS management as a crucial strategic requirement for businesses dedicated to operational excellence and sustainable growth.

The Environment, Health, and Safety Market is expected to reach USD 11.5 billion by 2029 from USD 7.9 billion in 2024, at a CAGR of 7.6 % during 2024–2029, according to a new report by MarketsandMarkets™.  
Browse in-depth TOC on “Environment, Health, and Safety Market”
218 – Tables 42 – Figures252 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD) Million/Billion
Segments Covered
By Offering (software and services), Application, Vertical and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
The major players in the Environment, Health, and Safety Market are VelocityEHS (US), Wolters Kluwer (Netherlands), Intelex Technologies (Canada), Benchmark ESG (US), Cority Software Inc. (Canada), Sphera (US), Intertek (UK), Quentic (Germany), UL Solutions (US), Ideagen (UK), SAP (Germany), IBM (US), Evotix (UK), EcoOnline (Norway), Diligent Corporation (US),  ETQ (US), 3E (US), Dakota Software Corporation (US), IsoMetrix (US), Enhesa (US), VisiumKMS (US),  SafetyCulture (Australia), TextContext (Canada), ComplianceQuest (US), Pro-Sapien (UK), SHEQX (Australia), CMO Software (UK), Indus Environmental Services (India), Inicia (Japan), ASK-EHS Engineering (India), SHE Group (South Africa), and EHS Brazil (Brazil).
 
As leading companies worldwide increasingly prioritize robust EHS systems, the EHS market is being driven by the growing recognition of EHS as a critical component for achieving various business objectives. Beyond mere regulatory compliance, organizations now view EHS as essential for effective risk management, sustainability efforts, corporate social responsibility, operational efficiency, cost reduction, and brand reputation enhancement. A strong EHS culture correlates with increased productivity, product quality, employee morale, and profitability. Businesses invest in comprehensive EHS solutions to capitalize on these benefits, recognizing that effective EHS management not only safeguards people and the planet but also drives long-term business success.
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The software segment contributed the largest market share in the Environment, Health, and Safety Market during the forecast period.
EHS software helps identify hazards, manage safety data, and monitor worker health, promoting a safer and healthier work environment. With features like data analysis and risk assessment, businesses can proactively prevent accidents. EHS software enables enterprises to protect their employees’ health and safety from potential workplace hazards. It also assists organizations in staying afloat in this dynamic regulatory environment by keeping them informed of regulation updates.
A heightened awareness of EHS issues drives the demand for EHS software and services. High-profile incidents involving hazardous chemicals have pushed governments worldwide to implement stricter regulations, particularly in the chemical and energy sectors. EHS software empowers businesses to navigate these more stringent regulations and prioritize safety and environmental responsibility.
The analytics services segment is projected to register the highest CAGR during the forecast period.
Analytics services assist organizations in consolidating data from various sources and leveraging it to enhance profitability. Once data is uploaded into the EHS analytics platform, organizations can visualize it through customizable dashboards, share insights with stakeholders, and export it for further analysis. These services encompass the aggregation and analysis of data from diverse sources, offering valuable insights to improve decision-making and operational performance. The increasing adoption of analytics services is primarily driven by the growing complexity of regulatory requirements, heightened focus on workplace safety, and organizations’ need to proactively manage environmental impacts. By harnessing analytics, companies can identify trends, predict potential hazards, and optimize resource allocation.
Based on region, Asia Pacific is projected to register the highest CAGR during the forecast period.
Asia Pacific, home to nearly 40% of the world’s population, is witnessing diverse implementations of environment, health, and safety technologies. The Asia Pacific region is undergoing a notable surge in adopting environment, health, and safety, driven by the flourishing economies of India, China, Japan, Australia, and New Zealand. Initiatives like the China Environment and Health Initiative by the Social Science Research Council (SSRC) aim to advance research on the interconnectedness of health, environment, and development in China. Similarly, countries such as India, Australia, and Japan have implemented various measures to adopt EHS solutions. In India, the government and labor departments at both state and union territory levels oversee worker safety and health, supported by bodies like the Directorate General of Mines Safety (DGMS) and the Directorate General Factory Advice Services and Labor Institutes (DGFASLI). Australia, meanwhile, follows the comprehensive Work Health and Safety Act 2011, encompassing a range of EHS regulations.
Top Key Companies in Environment, Health, and Safety Market:
The report profiles key players such as VelocityEHS (US), Wolters Kluwer (Netherlands), Intelex Technologies (Canada), Benchmark ESG (US), Cority Software Inc. (Canada), Sphera (US), Intertek (UK), Quentic (Germany), UL Solutions (US), Ideagen (UK), SAP (Germany), IBM (US), Evotix (UK), EcoOnline (Norway), Diligent Corporation (US),  ETQ (US), 3E (US), Dakota Software Corporation (US), IsoMetrix (US), Enhesa (US), VisiumKMS (US),  SafetyCulture (Australia), TextContext (Canada), ComplianceQuest (US), Pro-Sapien (UK), SHEQX (Australia), CMO Software (UK), Indus Environmental Services (India), Inicia (Japan), ASK-EHS Engineering (India), SHE Group (South Africa), and EHS Brazil (Brazil).
Recent Developments:
In February 2024, VelocityEHS acquired Contractor Compliance, a Canadian-based enterprise safety and risk management software solution provider. The deal adds innovative third-party contractor and vendor compliance capabilities to the award-winning VelocityEHS Accelerate Platform.In August 2023, UL Solutions announced the acquisition of CERE, a privately owned, Madrid-based third-party testing, simulation, and certification company.In May 2023, Cority announced the acquisition of Greenstone, a UK-headquartered software company with a suite of sustainability solutions for enterprises, supply chains, and asset managers. This marks the third sustainability-focused acquisition for Cority in the past two years, including WeSustain and Reporting 21.In January 2023, Wolters Kluwer Legal & Regulatory announced it had acquired Della AI Ltd., a provider of leading AI technology based on advanced NLP. This technology was expected to allow legal professionals to review contracts in multiple languages by simply asking questions.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=59608773
Environment, Health, and Safety Market Advantages:
By assisting companies in adhering to industry-specific criteria, health and safety standards, and environmental legislation, EHS solutions lower the risk of fines and legal ramifications for non-compliance.EHS solutions assist organisations prevent accidents, injuries, and incidents, protecting workers, the community, and the environment while preserving business continuity. They do this by recognising and reducing environmental, health, and safety hazards.Through lower insurance premiums, healthcare costs, fewer workplace accidents, and less downtime from events or fines from the government, proactive management of EHS risks can save money.By optimising resource utilisation, cutting waste, and streamlining procedures, the implementation of EHS management systems increases operational efficiency and boosts profitability and productivity.Enhancing brand value and competitiveness, an organization’s reputation among customers, investors, regulators, and other stakeholders is improved when it demonstrates a commitment to environmental sustainability, employee health, and safety.Having a secure and healthy workplace promotes employee loyalty, engagement, and morale, which boosts retention rates and creates a great business culture.EHS solutions ensure suppliers follow EHS standards, encourage responsible sourcing, and improve supply chain transparency, all of which assist organisations in managing environmental and social risks throughout the supply chain.EHS software facilitates trend analysis, informed decision-making, and continuous improvement activities by offering real-time data and analytics on environmental performance, health parameters, and safety occurrences.Report Objectives
To determine and forecast the global Environment, Health, and Safety Market by offering (software and services), application, vertical, and region from 2024 to 2029, and analyze the various macroeconomic and microeconomic factors affecting market growth.To forecast the size of the market segments concerning five central regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America.To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Environment, Health, and Safety Market.Analyze each submarket concerning individual growth trends, prospects, and contributions to the overall Environment, Health, and Safety Market.To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Environment, Health, and Safety Market.To profile the key market players; provide a comparative analysis based on business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the market’s competitive landscape.Track and analyze competitive developments in the market, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities.Browse Adjacent Markets: Software and Services Market Research Reports & Consulting
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About MarketsandMarkets™
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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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Management ‘bought the AI hype’ and expect value but research shows lack of organizational readiness is primary hurdle: IFS

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IFS commissioned research shows value creation lags AI promise without the right planning and application
LONDON, April 23, 2024 /PRNewswire/ — New research from IFS, the global cloud enterprise software company, has found that executive and board leadership have ‘bought the AI hype’ but organizations are unable to deliver operationally on expectations. The new global study of 1,700 senior decision makers, Industrial AI: the new frontier for productivity, innovation and competition, found that the promise of AI is being held back by technology, processes and skills. Half of respondents remain optimistic that with the right AI strategy, value can be realized in the next two years, and a quarter believe in the next year.

Expectations failing to meet reality
84% of executives anticipate massive organizational benefits from AI, with the top three areas AI is expected to deliver value in being high-impact: product & service innovation, improved internal & external data availability, and cost reductions & margin gains. The hype has become so high that 82% of senior decision-makers acknowledge that there is significant pressure to adopt AI quickly. However, this same group of respondents state that they are concerned that a failure to plan, implement and communicate properly means AI projects will stall in pilot stage.
Many organizations have not prioritized elements of development, nor have the infrastructure required to reap the rewards or the skills to deliver on that promise. The study found that over a third (34%) of businesses had not moved to the cloud. While this is not essential to AI adoption, it is indicative of an unprepared enterprise unlikely to be able to scale AI across their business. According to IFS, a robust Industrial AI strategy requires a potent combination of cloud, data, processes, and skills. 80% of respondents agree that the lack of a strategic approach means they have insufficient skills in-house to successfully adopt AI. This sentiment is seen elsewhere in the research with 43% of respondents rating the quality of AI resources in their business, in terms of human skills, as passable and not where it needs to be.
Christian Pedersen, Chief Product Officer, IFS, commented: “AI is poised to become the most transformational enterprise tool ever seen, but our research reveals that there are still fundamental misunderstandings about how to harness its power within an industrial setting. It is telling that AI is expected to significantly reduce costs and raise margins, but a lack of robust strategy means most businesses are under-skilled and under-prepared to achieve these ambitions. We built IFS.ai specifically with these challenges in mind. AI value simply will not be found in a single AI capability but instead by delivering AI across all products and business processes. This supports customers’ decision cycles and provides the data and AI services required to realize value faster.”
Pedersen continued: “Achieving this at scale needs a clear-eyed strategic focus, including the high-impact use cases specific to their industry, having a cloud-based infrastructure in place which has industrial AI embedded, and investing early in developing the skills needed. Adopting this approach will turn the tide of disillusionment, and deliver the benefits that boards and the C suite are demanding.”
Outlook optimistic but planning needed
The unfortunate reality of the skills gap means that in terms of AI readiness, many businesses are falling behind. IFS found that nearly half of respondents (48%) were most likely to say that they are gathering proposals and were much less likely to have a clear strategy and perceivable results (27%). A fifth of respondents are in the research phase, with uncontrolled tests taking place and a further 5% are lacking a coordinated approach and do not have anything in motion yet. Despite initial challenges, there is still optimism with respondents most likely to feel AI could make a significant difference to their business in 1-2 years (47%), and a further quarter (24%) believe it could be within a year.
In particular, respondents are most optimistic about the impact of AI in smart production and/or service delivery on effectiveness & business and operational management (22%) in the future. One fifth see the biggest impact being on innovation with new products and services (20%), growth & business model decision-making (20%), empowering people and increasing talent retention (19%), and customer experience and customer service (19%).
Action needed on data readiness
To reap these benefits, enterprises need to leverage the most strategic asset they have – their data. The right data volume and quality is critical for the success of AI applications. Respondents recognize how important real-time data is to successful AI projects, with over 4 in 5 (86%) stating this. Yet despite this recognition, less than a quarter (23%) of respondents have completed their data foundation with it supporting both data-driven business decision making and real time response to changes, suggesting that more work needs to be done to get data AI ready. Moreover, under half (43%) of respondents have majority structured data, with some unstructured.
Pedersen commented: “The lack of maturity at the data foundation layer needs to be addressed as part of an overall AI strategy, otherwise AI simply will never be the magic bullet that can turbocharge the enterprise. Clearly enterprises need support on data management and migration. While AI is seen as a shiny new tool that will revolutionize business, like all technology, it is never that simple. The power of Industrial AI is that it can touch all facets of a business from product innovation and customer experience to productivity and ESG. Its potential is massive if executives and organizations can combine vision, strategy, technology and skills. Now is the time to step back, take stock, and build a true Industrial AI plan and turn the hype into reality.”
Methodology:
Censuswide surveyed 1,709 C-level/President/SVP/Directors who work in Manufacturing, Telecommunications, A&D, Services, Construction & Engineering or Energy & resources in organizations with $50m+ annual revenue (Aged 18+) across the UK, USA, Canada, Germany, France, UAE, Norway, Japan, Australia, Sweden, Denmark and Finland between 06.03.2024 – 27.03.2024.
IFS Press Contacts:MEA& APJ: Adam GillbeCorporate CommunicationsEmail: [email protected] Phone: +44 7775 114 856
USA: Mairi MorganCorporate CommunicationsEmail: [email protected] Phone: +44 7918 607 299
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/ifs/r/management–bought-the-ai-hype–and-expect-value-but-research-shows-lack-of-organizational-readiness,c3965172
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University medical centers in Germany choose Sectra’s radiology solution to streamline workflows and shorten lead times for patients

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LINKÖPING, Sweden, April 23, 2024 /PRNewswire/ — International medical imaging IT and cybersecurity company Sectra (STO: SECT B) has signed two contracts to provide the radiology module of its enterprise imaging solution with two university medical centers in Germany—Universitätsklinikum Tübingen and Universitätsmedizin Göttingen. By implementing Sectra’s radiology solution, the hospitals aim to improve and streamline radiology workflows with Sectra’s tools for enhanced reporting efficiency, in turn speeding up diagnostics.

“When choosing a vendor, we wanted one that could provide us with a stable and fast system. We also wanted one facilitating collaboration among our radiologists. That way we can streamline our radiology workflows and in turn shorten lead times for patients as well as reduce the ever increasing workload for radiologists,” says Dr. Babak Panahi, Managing Senior Physician and Head of CT and CT Intervention, Universitätsmedizin Göttingen.
Universitätsmedizin Göttingen and Universitätsklinikum Tübingen are two university medical centers located in the cities of Göttingen and Tübingen in Germany managing 300,000 and 600,000 radiology exams a year. The two separate contracts for Sectra’s radiology solution were both signed during the third quarter of Sectra’s 2023/2024 fiscal year.
“Radiologists are under a lot of pressure as they are challenged to handle more images and more complex cases with less resources. Having a solution designed to streamline radiology workflows, facilitating reading and reporting of images, is therefore paramount. I am happy and excited to support Universitätsmedizin Göttingen and Universitätsklinikum Tübingen on their journey towards efficient radiology diagnostics,” says Guido Bötticher, Managing Director, Sectra DACH.
The radiology module is part of Sectra’s enterprise imaging solution that provides a unified strategy for all imaging needs while lowering operational costs. The scalable and modular solution, with a VNA at its core, allows healthcare providers to grow from ology to ology and from enterprise to enterprise. Visit Sectra’s website to read more about Sectra and why it’s top-ranked in ‘Best in KLAS’.
About SectraSectra contributes to a healthier and safer society by assisting health systems throughout the world to enhance the efficiency of care, and authorities and defense forces in Europe to protect society’s most sensitive information. The company, founded in 1978, is headquartered in Linköping, Sweden, with direct sales in 19 countries, and distribution partners worldwide. Sales in the 2022/2023 fiscal year totaled SEK 2,351 million. The Sectra share is quoted on the Nasdaq Stockholm exchange. For more information, visit Sectra’s website.
For further information, please contact: Dr. Torbjörn Kronander, CEO and President Sectra  AB, 46 (0) 705 23 52 27Marie Ekström Trägårdh, Executive Vice President Sectra AB and President Sectra Imaging IT Solutions, 46 (0)708 23 56 10
This information was brought to you by Cision http://news.cision.com
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New CPS Protection Platform: TXOne Networks Unveils SageOne at GISec Global

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TAIPEI, April 23, 2024 /PRNewswire/ — TXOne Networks, a frontrunner in the realm of cyber-physical systems (CPS) security, is set to unveil its groundbreaking CPS security platform, SageOne, at the highly anticipated GISec Global from April 23rd to 25th, 2024. Attendees can find TXOne Networks showcasing SageOne at stand B99 in hall 5. This innovative platform consolidates all CPS security products onto a single, central management platform, promising streamlined operations and optimized threat detection capabilities.

SageOne, aptly named “Wise Man Number One,” serves as a comprehensive management console providing a holistic view of the CPS attack surface within operational technology (OT) environments. By enabling centralized control of TXOne’s three core product lines – Stellar for endpoint protection, Element for security inspection, and Edge for network defense – SageOne facilitates integrated OT security throughout the lifecycle of protected assets, ensuring robust threat detection and response mechanisms.
Key features of SageOne include:
CPS Attack Surface Management: Prioritizing operational security by offering clear visibility into the overall security posture of OT environments, SageOne identifies security focal points, illuminating asset information and security controls.Integrated Lifecycle Protection: Through centralized management, SageOne simplifies cybersecurity governance and fosters collaborative defense. It serves as an abstraction layer, facilitating contextualization and consolidation of data across multiple products, offering tailored, task-oriented consoles for executives, security personnel, and plant leaders.CPS Threat Detection & Response: SageOne aggregates security insights from various solutions to scout for potential risks, enabling early caution and response to both known and unknown threats.SageOne’s foundation rests upon advanced components, including Threat Intelligence, Behavior-Based AI Analytics Engines, Compliance Framework, Data Visualizer, and Ecosystem Integrator, ensuring comprehensive protection and seamless integration of different tools and technologies.
With its focus on analyzing unexpected behavior and unknown threats, SageOne enables the identification of suspicious events through cross-telemetry analysis within the OT-native XDR engine. This amalgamation of advanced technologies and user-friendly interface ensures the protection of critical infrastructures.
For rapid threat response, SageOne issues early warnings of suspicious behavior and orchestrates cross-telemetry analysis for CPS Threat Detection & Response. Integrated Lifecycle Protection ensures the security of devices and systems throughout their service life, contributing to great cost efficiency.
TXOne Networks reaffirms its commitment to CPS security and continuous advancement in OT security through SageOne. Visit TXOne Networks at the GISec Global from April 23rd to 25th, 2024, at stand B99 in hall 5.
For further updates and information, follow TXOne Networks on the blog, Twitter, and LinkedIn.
About TXOne Networks:
TXOne Networks provides OT security products ensuring reliability and security in industrial control systems and operational technology environments through the OT Zero Trust methodology. Collaborating with leading industrial manufacturers and critical infrastructure operators, TXOne Networks offers practical and business-friendly approaches to OT defense. Its network and endpoint-based products secure OT networks and mission-critical devices in real-time with high security depth.
Website: www.txone.com 
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