The major players in the environmental management, compliance and due diligence services market are AECOM, Tetra Tech, Strategix Application Solutions, Metrix Software Solutions, Lighthouse, Qooling, Intelex, SiteDocs, IndustrySafe, SafetySync, SafetyTek, iAuditor, Form, CH2M Hill, Tetra Tech, Arcadis and MyEasyISO.
New York, December 29, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Environment Management, Compliance And Due Diligence Global Market Report 2022” – https://www.reportlinker.com/p06193723/?utm_source=GNW
The global environmental management, compliance and due diligence market is expected to grow from $ 14.48 billion in 2021 to $ 16.82 billion in 2022 at a compound annual growth rate (CAGR) of 16.2%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 28.66 billion in 2026 at a CAGR of 14.2%.
The environmental management, compliance and due diligence services market comprises the sales of environmental management, compliance and due diligence services by entities (organizations, sole proprietorships and partnerships) that provide services advising companies and other organizations on licensing, compliance with government regulations and due diligence. These companies undertake environmental audits and quality assurance checks, perform inspections and ensure that companies comply with international environmental laws, regulations and standards.
Environmental due diligence involves measures to prevent an environmental breach from occurring. It can significantly reduce the risk of environmental accidents as well as civil and regulatory liability.
Only goods and services traded between entities or sold to final consumers are included.
The main types of environmental management, compliance and due diligence services are environmental management services, environmental compliance services, and environmental due diligence services. An environmental management system (EMS) is a set of systems and practices that allow a business to minimize its environmental footprint while increasing its operational efficiency.
This site serves small businesses and the private sector, as well as local, state, and federal organizations, with information and resources relevant to an EMS. The different applications include government, utilities, others and are used by various verticals such as mining, manufacturing and processing industries, energy and utilities, government and regulators, infrastructure and development, etc.
The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Growing environmental safety concerns across the globe have contributed to the growth of the market for environmental management, compliance and due diligence services. A deep public interest in threats to the environment, as well as an acceleration of claims placed on the environment by increasing population, are expected to stimulate demand for scientists and environmentalists.
According to the United States Bureau of Labor Statistics, the employment of scientists and environmental specialists is expected to increase 8% from 2019 to 2029, much faster than the average for all occupations. Environmental auditing has rapidly spread with an equivalent development of the approaches and techniques adopted. Therefore, working in an error-proof environment where the systems, tasks and processes in which they operate are well designed would propel the revenue generated for the Environmental Management, Compliance and Due Diligence Services market. reasonable.
The launch of carbon footprint management has created immense demand in the market for environmental management, compliance and due diligence services. Companies are increasingly following the management of the carbon footprint at the vertical level due to the need to comply with carbon emissions regulations.
For example, in June 2020, SAP launched a carbon emissions accounting system to tackle climate change. SAP launched the first solution in its Climate 21 program helping companies efficiently conduct business operations where sustainability is a business and strategic imperative.
A carbon footprint is used as a transcription of the amount of carbon (usually in tonnes) released by an organization. It is also an important constituent of the ecological footprint since it is a competing demand for biologically productive space.
The high cost associated with environmental consulting services is expected to limit the growth of the environmental management, compliance and due diligence services market.
For example, due diligence costs can range from $ 15,000 to $ 50,000 per site. In addition, the exhibitor’s engineers, scientists and environmental economists charge a high price for environmental response actions, estimate current and future responsibilities, and divide the prices among potentially responsible parties.
This discourages small and medium-sized businesses from using the services as it increases their operating costs.
In July 2019, ASRC Industrial Services (AIS), a company providing environmental and industrial services across the United States, acquired Environmental Quality Management (EQM) Inc. for an undisclosed amount. Through this acquisition, ASRC Industrial Services (AIS) plans to enhance its capabilities company-wide and also aims to expand the company’s presence in key markets to provide customer-focused industrial services. Environmental Quality Management (EQM) Inc. is an American environmental consulting, remediation and construction company that provides environmental compliance, environmental remediation and other services to the public sectors, government and industry.
Countries covered by the environmental management, compliance and due diligence market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan , Russia, South Korea, United Kingdom and United States.
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