How Big is the Workplace Safety Market?
The Global Workplace Safety Market size was valued at USD 14.9 billion in 2023 and is estimated to grow at a CAGR of around 15.1% during the forecast period, i.e., 2024-30. The market is witnessing a notable surge in growth due to the implementation of stringent industrial health safety regulations, coupled with an increasing incidence of workplace injuries and fatalities. Additionally, the integration of drones, Augmented Reality, Virtual Reality, and Artificial Intelligence is playing a vital role in bolstering the market's expansion. These technological advancements provide organizations with advanced security measures, contributing to the market's promising potential for further advancement.
Market Statistics
- Market Size in 2023: USD 14.9 billion
- Market Growth Rate (CAGR): 15.1% from 2024-2030
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Workplace Safety Market Insight:
Driver-
Rising Workplace Safety Concerns Due to Increasing Incidents of Injuries Life Losses – The prioritization of workplace safety has become increasingly important for organizations as they recognize the significance of taking a proactive approach to injury prevention treatment, reflecting their commitment to the well-being of their employees. The severity of the situation becomes even more evident when taking into account the data provided by the National Safety Council, which reveals that a worker gets injured on the job every seven seconds.
In response to these escalating numbers, the National Institute for Occupational Health (NIOSH) introduced the Total Worker Health concept, signifying a significant change in the industry towards a more comprehensive approach to employee well-being. This transformative initiative has shifted the focus of workplace safety efforts from merely identifying hazardous conditions to actively identifying risks for prevention-oriented programs. As a result, this surge is anticipated to propel the workplace safety market as organizations acknowledge the significance of safeguarding their workforce.
Workplace Safety Market Segmentation:
The report has segmented the market into the following categories:
By Component
- Hardware- Market Size Forecast 2019-2030, (USD Million)
- Safety Sensors- Market Size Forecast 2019-2030, (USD Million)
- RFID Tags Readers- Market Size Forecast 2019-2030, (USD Million)
- Wearables- Market Size Forecast 2019-2030, (USD Million)
- Software- Market Size Forecast 2019-2030, (USD Million)
- Services- Market Size Forecast 2019-2030, (USD Million)
By System
- Real-time location monitoring- Market Size Forecast 2019-2030, (USD Million)
- Environmental Health Safety- Market Size Forecast 2019-2030, (USD Million)
- Access Control Surveillance System- Market Size Forecast 2019-2030, (USD Million)
- Others- Market Size Forecast 2019-2030, (USD Million)
By Application
- Incident Emergency Management- Market Size Forecast 2019-2030, (USD Million)
- Asset Tracking Management- Market Size Forecast 2019-2030, (USD Million)
- PPE Detection- Market Size Forecast 2019-2030, (USD Million)
- Personnel/Staff Tracking
By Deployment Mode
- Cloud- Market Size Forecast 2019-2030, (USD Million)
- On-premises- Market Size Forecast 2019-2030, (USD Million)
By End Use Industry
- Construction Engineering- Market Size Forecast 2019-2030, (USD Million)
- Chemicals Materials- Market Size Forecast 2019-2030, (USD Million)
- Government Defense- Market Size Forecast 2019-2030, (USD Million)
- Healthcare- Market Size Forecast 2019-2030, (USD Million)
- Food Beverage- Market Size Forecast 2019-2030, (USD Million)
- Others- Market Size Forecast 2019-2030, (USD Million)
By Region
- North America
- South America
- Europe
- The Middle East Africa
- Asia-Pacific
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Competitive Landscape:
- IBM
- Honeywell
- 3M
- Hexagon AB
- Appian
- Microsoft
- Bosch
- Cority
- Wolters Kluwer
- Intelex
- HCL Technologies
- Amazon Web Services (AWS)
- Hitachi Solutions
- Vector Solutions
- HSI
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Key Highlights of the Report:
- Market Performance (2024-2030)
- Strategic Recommendations
- Current, Historical and Future Market Trends
- Market Drivers and Leading Competitor
- SWOT Analysis
- Structure of the Market
- Comprehensive Mapping and Recent Advancement
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