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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