Global Workplace Safety Market Size To Exceed USD 75.79 Billion By 2033 | CAGR of 16.76%
Category: Information & TechnologyGlobal Workplace Safety Market Size To Exceed USD 75.79 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Workplace Safety Market Size is Expected to Grow from USD 16.09 Billion in 2023 to USD 75.79 Billion By 2033, at a CAGR of 16.76% during the Forecast Period 2023-2033.
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Browse key industry insights spread across 250 pages with 120 Market data tables and figures & charts from the report on the "Global Workplace Safety Market Size, Share, and COVID-19 Impact Analysis, By Product Type (PPE, Workplace Safety Services, and Safety Equipment Software), By Technology (IoT-enabled, Wearable, Automation & Robotics, Artificial Intelligence (AI), Big Data & Predictive Analytics, and Virtual Reality (VR), By Deployment mode (On-Premises and Cloud), By End User (Energy & Utilities, Construction & Engineering, Chemicals & Materials, Government & Defence, Healthcare, Food & Beverage, and Other), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/workplace-safety-market
The workplace safety market refers to the sector that seeks to safeguard the safety, health, and well-being of employees across various industries and sectors. It includes a range of goods, services, and solutions to encourage the avoidance of illnesses, injuries, and accidents at work. These include risk management techniques, personal protective equipment (PPE), safety training, safety monitoring devices, and adherence to regulatory compliance (such as OSHA or area-specific safety standards). The aim to improve safety standards, reduce job hazards, uphold legal compliance, and increase workplace efficiency is what drives the market for these items. The market growth is driven by stricter laws and a greater emphasis on employee well-being is increasing demand for improved safety solutions. Technologies such as IoT and wearables are improving real-time monitoring and risk management. Prioritizing workplace safety not only assures compliance but also indicates a desire to protect people. However, the high costs of safety components, installation, and maintenance pose a significant barrier to market growth.
The personal protective equipment (PPE) segment dominated share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
On the basis of product type, the workplace safety market is segmented into PPE, workplace safety services, and safety equipment software. Among these, the personal protective equipment (PPE) protection segment dominated the share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth can be attributed to the expanding usage of automation technologies in hazardous areas has increased demand for smart personal protective equipment (PPE), which allows for real-time monitoring of worker health and conditions. As enterprises prioritize worker safety, the need for improved protective equipment will remain high. The PPE industry is likely to develop steadily as safety regulations evolve.
The IoT-enabled segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
On the basis of technology, the workplace safety market is segmented into IoT-enabled, wearable, automation & robotics, artificial intelligence (AI), big data & predictive analytics, and virtual reality (VR). Among these, the IoT-enabled segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth can be attributed to the incorporation of modern technologies, such as IoT-enabled devices, which are transforming safety monitoring and risk management. Real-time tracking of staff health, environmental conditions, and equipment status allows for proactive decision-making. This technology is very useful in high-risk industries, as it helps to prevent accidents and ensure safety.
The cloud segment accounted for the majority of the share in 2023 and is estimated to grow at a remarkable CAGR during the predicted timeframe.
On the basis of deployment mode, the workplace safety market is categorized into on-premise and cloud. Among these, the cloud segment accounted for the majority of the share in 2023 and is estimated to grow at a remarkable CAGR during the predicted timeframe. The segmental growth can be attributed to the cloud-based technologies that provide centralized storage for safety data making it easier for the company to manage and retrieve critical information in real-time. By securely storing and remotely accessing safety reports, compliance records, incident logs, and training materials, managers, safety officers, and employees will always have the most recent information.
The energy & utilities segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
On the basis of end-use, the workplace safety market is segmented into energy & utilities, construction & engineering, chemicals & materials, government & defense, healthcare, food & beverage, and others. Among these, the energy & utilities segment held the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth can expand as the renewable energy industry expands, and specialized safety procedures are required to manage the potential risks associated with technologies such as hydropower, wind, and solar power. There is a growing demand for specific safety solutions to protect workers in these new businesses.
North America is projected to hold the largest share of the global workplace safety market over the forecast period.
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North America is projected to hold the largest share of the global workplace safety market over the forecast period. The region's growth is attributed to the market's shift toward automation and the expanding use of robotics in industries including manufacturing, construction, and logistics. As some manual tasks are replaced by automation and robotics, it has become increasingly important to ensure worker safety in these evolving circumstances. Because occupational illnesses and injuries are becoming more common in this area, organizations are embracing products and solutions from the workplace safety sector.
Asia Pacific is expected to grow at the fastest CAGR of the global workplace safety market during the forecast period. The region in which rapid industrialization, rising worker safety awareness, and government initiatives to improve safety in high-risk industries like manufacturing and construction. As the economies and industrial sectors of the APAC countries continue to expand, workplace safety investments are rapidly increasing.
Major vendors in the global workplace safety market are ANSELL LTD, 3M, Wolters Kluwer N.V., ABB, Drägerwerk AG & Co. KGaA, VIKING, Vector Solutions, Ecolab, KCWW, MSA, Cintas Corporation, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In September 2024, Governor Gavin Newsom announced a series of initiatives aimed at advancing safe and responsible AI deployment in California. He has appointed top experts, including Dr. Fei-Fei Li and Tino Cuéllar, to help develop responsible guidelines for GenAI technology. The Governor signed 17 bills focused on regulating GenAI, addressing issues like deepfakes, and AI-generated misinformation, and protecting children and workers.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global workplace safety market based on the below-mentioned segments:
Global Workplace Safety Market, By Product Type
- PPE
- Workplace Safety Services
- Safety Equipment Software
Global Workplace Safety Market, By Technology
- IoT-enabled
- Wearable
- Automation & Robotics
- Artificial Intelligence (AI)
- Big Data & Predictive Analytics
- Virtual Reality (VR)
Global Workplace Safety Market, By Deployment Mode
- On-Premises
- Cloud
Global Workplace Safety Market, By End User
- Energy & Utilities
- Construction & Engineering
- Chemicals & Materials
- Government & Defence
- Healthcare
- Food & Beverage
- Other
Global Workplace Safety Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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