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Environment Management, Compliance And Due Diligence Global Market Report 2022

·5-min read

Major players in the environment 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, Dec. 29, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Environment Management, Compliance And Due Diligence Global Market Report 2022" -

The global environment 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 the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $28.66 billion in 2026 at a CAGR of 14.2%.

The environment management, compliance, and due diligence services market consists of the sales of environment management, compliance, and due diligence services by entities (organizations, sole traders, and partnerships) that provide advisory services to businesses and other organizations for obtaining licenses, compliance with government regulations and due diligence.These companies undertake environmental audits and quality assurance checks, conduct inspections, and ensure companies comply with environmental laws, regulations, and international standards.

The environmental due diligence involves steps to prevent an environmental offense from occurring.It can significantly reduce the risk of environmental accidents as well as regulatory and civil liability.

Only goods and services traded between entities or sold to end consumers are included.

The main types of services in environment management, compliance, and due diligence services are environment management services, environment compliance services and environment due diligence services.An Environmental Management System (EMS) is a collection of systems and practises that allow a company to minimize its environmental footprint while also increasing its operational efficiency.

This site serves small enterprises and private sector, as well as local, state, and federal organisations, with information and resources relevant to an EMS. The different applications include government, utilities, others and is used by various verticals such as mining, manufacturing and process industries, energy and utilities, government and regulators, infrastructure and development, others.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Increasing environmental safety concerns across the globe contributed to the growth of the environmental management, compliance, and due diligence services market.Profound public interest in the threats facing the environment, as well as accelerating claims placed on the environment by the increased population, are projected to spur demand for environmental scientists and specialists.

According to the U.S. Bureau Of Labor Statistics, the employment of environmental scientists and specialists is projected to grow 8% from 2019 to 2029, much faster than the average for all occupations. Environmental auditing has spread rapidly with an equivalent development of the approaches and techniques adopted. Therefore, working in an error-proof environment where the systems, tasks, and processes they work in are well designed would propel the revenues generated for the environment management, compliance, and due diligence services market.

The launch of carbon footprint management has created immense demand in the environmental management, compliance, and due diligence services market.Companies are increasingly following carbon footprint management at the vertical level due to the need to comply with carbon emissions regulations.

For instance, in June 2020, SAP has launched a carbon emissions accounting system to address climate change.SAP launched the first solution in its Climate 21 program helping enterprises to perform their business operations efficiently where sustainability is an economic and strategic imperative.

A carbon footprint is used as a transcript for the quantity of carbon (usually in tonnes) being discharged by an organization. It is also a significant constituent of the Ecological Footprint since it is one 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.The services offered by an experienced consultant in the industry are priced high with a focus on the value of the service.

For instance, the due diligence costs can range from $15,000 to $50,000 per site.Moreover, exponent’s engineers, scientists, and environmental economists charge a high price for environmental response actions, estimate current and future liabilities, and apportion prices among potentially responsible parties.

This discourages small and medium enterprises to use the services as it increases their operational costs.

In July 2019, ASRC Industrial Services (AIS), a company providing environmental and industrial services across the USA acquired Environmental Quality Management (EQM) Inc. for an undisclosed amount. Through this acquisition, ASRC Industrial Services (AIS) plans to enhance its enterprise-wide capabilities and also aims at expanding the company’s presence in key markets to provide customer-focused industrial services. Environmental Quality Management (EQM) Inc. is a USA-based environment consulting, remediation, and construction company engaged in providing environmental compliance, environmental remediation, and other services to the public, government, and industrial sectors.

The countries covered in the environment management, compliance and due diligence market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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