LONDON, March 14, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the workplace safety market identifies technological advancement as a major trend in the workplace safety market. Major workplace safety system manufacturers are developing new technological innovations, such as Honeywell's NIOSH-certified N95 respirator. For instance, in May 2022, Honeywell, a US-based company that produces industrial, commercial, and residential control systems, aerospace, and automotive goods, specialty chemicals and plastics, and so on, launched the N95 respirator. This product has unique features, such as the new filtered, reusable half-mask respirator that allows workers in the healthcare sector to wear it comfortably for hours. The product offers a superior personal protection equipment portfolio and enables an ecosystem of improved safety and protection of human health.
The global workplace safety market size is expected to grow from $12.3 billion in 2022 to $13.6 billion in 2023 at a compound annual growth rate (CAGR) of more than 10.5%. The workplace safety market size is then expected to reach $19.9 billion in 2027 at a CAGR of nearly 10%.
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Rising occupational injuries and deaths are driving the growth of the workplace safety market. Workplace safety systems protect employees from a variety of life-threatening situations at their workplaces, and rising occupational injuries and deaths at work are prompting more companies to deploy workplace safety equipment and practices, driving the market. For instance, according to data by Eurostat, a Luxembourg-based body of the European Commission, in the EU, there were 3355 fatal workplace accidents in 2020. Therefore, rising occupational injuries and deaths are expected to propel future workplace safety market growth.
North America was the largest region in the workplace safety market in 2022. The regions covered in the workplace safety market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major players in the workplace safety market are IBM Corporation, Honeywell International, Inc., 3M Company, Hexagon AB, Appian Corporation, Microsoft Corporation, Robert Bosch GmbH, Amazon.com, Inc., Panasonic Corporation, Cority Software, Inc., NuSafe, Arco Limited, J&K Ross Ltd., and Alpha Pro Tech Ltd.
The global workplace safety market is segmented By System into environmental health and safety, access control and surveillance system, real time location monitoring; by enterprise size into small and medium enterprises, large enterprises; by application into incident and emergency management, asset tracking and management, personal protective equipment detection; by industry into BFSI, IT and telecom, manufacturing and automobile, hospitality, healthcare.
Workplace Safety Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032 by The Business Research Company provides workplace safety market research insights on the workplace safety market size, workplace safety market segments, workplace safety market trends, drivers and restraints, workplace safety industry major competitors’ market positioning, revenues and workplace safety market share.
The Business Research Company has published over 3,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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