In 2023/24, 138 workers died due to fatal injuries at their workplace in Great Britain, more than in the previous year but fewer than there were in 2020/21. During the provided time period, there has been a noticeable decline in the number of workplace fatalities in Britain.

According to Cognitive Market Research, the global HSE consulting & training services market size was USD 41.9 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 7.10% from 2023 to 2030. Factors Affecting HSE Consulting and Training Services Market Growth

Increase in Stringent Government Regulatory Compliances to Fuel Market Growth

Governments have imposed different rules and regulations on various organizations to implement enterprise risk management through a flexible, easy-to-use information system. This helps companies evaluate, identify, analyze, and consider opportunities and risks to protect corporate brands and create shareholder value. Furthermore, different rules and regulations imposed by governments in different countries affect the growth of risk management software.

For instance, the Singapore government has introduced a new regulatory framework that uses civil and criminal measures for financial benchmark manipulation.

(Source:www.pinsentmasons.com/out-law/news/singapore-set-to-criminalise-manipulation-of-financial-benchmarks)

The Factors Hindering the Growth of the HSE Consulting & Training Services Market over the projected period

Lack of Skilled Workplace Safety to Hinder Market Growth

Safety professionals have dedicated niche jobs to help with specific workplace health and safety-related tasks. Workplaces face several challenges regarding HSE training and consulting services, which can instantly impact workers physically and mentally. Upskilling employees in health, safety, and well-being can particularly help mitigate the risks associated with these challenges. With rapidly developing workplaces, safety professionals are now assigned numerous responsibilities. Organizations must direct safety professionals toward utilizing tools and resources that can be incorporated into workplace safety solutions to enhance worker lives. Safety professionals prepared with all these skill sets are challenging to find. However, that is starting to change, as many other businesses realize the requirement for employing professionals to control costly accidents to employees and employment. Employers are preparing the current safety professionals to provide them with the required skill set. Health and Safety officials are required in every industry to satisfy regulatory requirements.

Impact of the COVID-19 Pandemic on the Consulting & Training Services Market

The emergence of COVID-19 considerably impacted the growth of the HSE consulting & training services market. Spending on the risk management software industry was increased compared to spending planned before the pandemic, owing to numerous factors such as growth in work-from-home culture among industries and a rise in the risk of cyber-attacks and other security issues. Furthermore, the COVID-19 pandemic has radically changed the daily lives of people, work, and the surrounding environment. What is the HSE meaning?

HSE consulting and training services provide the broadest range of general and specific health, safety & environmental services across the globe. This service has used the enhancement of the services and productivity of any firm. With technological advancement in this industry, there is various AI-enabled software available in this industry. With organizations recognizing that a proactive approach to injury prevention and treatment reflects an institution's commitment to employee well-being, HSE consulting & training services have evolved into an on-the-job priority.

According to the Health and Safety Executive, Britain's national regulator for workplace health and safety, in 2021-2022, 565,000 working people sustained an injury at work, according to the Labor Force Survey.

(Source:www.hse.gov.uk/statistics/)