The Worldwide Workplace Safety Industry is Expected to Reach $19.9 Billion by 2025
DUBLIN, Feb. 2, 2021 /PRNewswire/ -- The "Workplace Safety Market by Component (Hardware, Software, and Services), System, Application (Incident and Emergency Management, Asset Tracking, PPE Detection), Deployment Mode, End-User (Industrial and Commercial), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global workplace safety market size is expected to grow from an estimated value of USD 12.1 billion in 2020 to USD 19.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 10.4% from 2020 to 2025.
The workplace safety market is driven by various factors, such as increasing need for stricter safety regulations and substantial shift within industries towards a more holistic approach to health and well-being. However, lack of skilled workplace safety and health professionals, and lack of employee engagement, are some of the factors restraining the growth of the workplace safety market.
Software segment to grow at a higher CAGR during the forecast period.
In today's work environment, companies must ensure the safety of workers and assets by reducing incidents, identifying and mitigating safety risks, and complying with occupational safety regulations, all while controlling costs. The safety management solution helps organizations by improving the safety culture and protecting the workforce across the enterprise. The solution collects and analyzes data, including real-time field data collected through mobile devices, to identify occupational hazards that create risks for injuries and illnesses. Moreover, the software helps organizations by transforming and leading them on a path to employee and environment safety.
Due to global lockdown, the adoption of digital and cloud-based solutions and services has increased. As almost 70-80% of workers are working from home, the demand for software and solutions has increased. Organization's concern to track the workers' activities and ensure their safety while working remotely has increased the market of software.
Environmental health and safety (EHS) segment to account for a higher market share during the forecast period
EHS promotes a safe and healthy working environment. It can also create a favorable industrial relations climate, build a great reputation, and avoid potentially expensive shutdowns, sickouts, or avoidable injuries. With this system, employees are able to meet the inherent health requirements and work-related occupational exposures. To comply with regulatory and policy requirements, such as OSHA standards for medical surveillance, companies need to safely store, archive, track, and share employee medical records with employees or relevant authorities at any time. Tracking and analyzing trends in health issues or absences enables organizations to proactively implement changes to working environments to serve the workforce. The environmental health and safety system helps organizations streamline the management of employee medical information and activities so that they can spend less time on paperwork and more time on delivering care to their employees. Organizations can effectively keep track of their workers' medical history, plan visits, and manage prescriptions and treatments with environmental health and safety systems.
North America is to account for highest market share during the forecast period
North America is expected to be the largest contributor in terms of the market size in the workplace safety market. It is home to global innovative technology providers and filled with affluent and tech-savvy consumers demanding cutting-edge workplace safety solutions. The major factors driving the growth of workplace safety in North America include the strengthening of safety standards and government regulations. Workplace Health and Safety (WHS) regulatory frameworks aim to secure the health and safety of workers and the workplaces around them. Various regulatory frameworks enable the safety and security of places that require workplace safety products, thus acting as a driver for the growth of the market. Increasing integration of technologies in workplace safety, such as smart sensors that can be integrated into fixed and portable devices for tracking and monitoring instruments, provide great opportunities to the vendors of workplace safety solutions and services in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities In Workplace Safety Market
4.2 Market, By Component, 2020
4.3 Market, By Hardware, 2020
4.4 Market, By System, 2020
4.5 Market, By Application, 2020
4.6 Market, By Deployment Mode, 2020
4.7 Workplace Safety Market, Cagr % Of Top Three Applications And Regions, 2020-2025
4.8 Market Investment Scenario
5 Market Overview And Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.3 Covid-19 Pandemic-Driven Market Dynamics And Factor Analysis
5.3.1 Drivers And Opportunities
5.3.2 Restraints And Challenges
5.3.3 Cumulative Growth Analysis
5.4 Industry Standards And Regulations
5.4.1 Workplace Safety Law
5.4.2 Health And Safety At Work Act
5.4.3 Occupational Safety And Health Act
5.4.4 Small Business Regulatory Enforcement Fairness Act
5.4.5 General Data Protection Regulation
5.4.6 Health Insurance Portability And Accountability Act
5.4.7 Iso 45001:2018
5.4.8 International Labour Organization
5.4.9 National Institute For Occupational Safety And Health
5.4.10 National Safety Council
5.5 Use Cases
5.5.1 Use Case: Scenario 1
5.5.2 Use Case: Scenario 2
5.5.3 Use Case: Scenario 3
5.6 Ecosystem
5.7 Value Chain
5.8 Average Selling Price
5.9 Porter'S Five Forces
5.9.1 Threat Of New Entrants
5.9.2 Threat Of Substitutes
5.9.3 Bargaining Power Of Suppliers
5.9.4 Bargaining Power Of Buyers
5.9.5 Rivalry Among Existing Competition
6 Workplace Safety Market, By Component
6.1 Introduction
6.1.1 Components: Market Drivers
6.1.2 Components: Covid-19 Impact
6.2 Hardware
6.2.1 Safety Sensors
6.2.2 Radio-Frequency Identification (Rfid) Tags And Readers
6.2.3 Wearables
6.3 Software
6.4 Services
7 Workplace Safety Market, By System
7.1 Introduction
7.1.1 Systems: Market Drivers
7.1.2 Systems: Covid-19 Impact
7.2 Environmental Health And Safety
7.3 Access Control And Surveillance System
7.4 Real-Time Location Monitoring
7.5 Other Systems
8 Workplace Safety Market, By Deployment
8.1 Introduction
8.1.1 Deployments: Market Drivers
8.1.2 Deployments: Covid-19 Impact
8.2 On-Premises
8.3 Cloud
9 Workplace Safety Market, By Application
9.1 Introduction
9.1.1 Applications: Market Drivers
9.1.2 Applications: Covid-19 Impact
9.2 Incident And Emergency Management
9.3 Asset Tracking And Management
9.4 Personal Protective Equipment Detection
9.5 Others
10 Workplace Safety Market, By End User
10.1 Introduction
10.1.1 End Users: Market Drivers
10.1.2 End Users: Covid-19 Impact
10.2 Industrial
10.3 Commercial
11 Workplace Safety Market, By Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia Pacific
11.5 Middle East And Africa
11.6 Latin America
12 Competitive Landscape
12.1 Overview
12.2 Market Evaluation Framework
12.3 Company Evaluation Matrix
12.3.1 Star
12.3.2 Emerging Leaders
12.3.3 Pervasive
12.4 Startup/Sme Evaluation Matrix
12.4.1 Progressive Companies
12.4.2 Responsive Companies
12.4.3 Dynamic Companies
12.4.4 Starting Blocks
12.5 Revenue Analysis
12.6 Market Share Analysis
13 Company Profiles
13.1 Introduction
13.2 IBM
13.3 Honeywell
13.4 3M
13.5 Hexagon AB
13.6 Appian
13.7 Microsoft
13.8 Bosch Building Technologies
13.9 Cority
13.10 Enablon
13.11 Intelex
13.12 HSI
13.13 Vector Solutions
13.14 INX Software
13.15 Arventa
13.16 AWS
13.17 Panasonic Corporation
13.18 Damotech
13.19 Startup Company Profiles
13.19.1 Vero Solutions
13.19.2 Atheer
13.19.3 Kinetic
13.19.4 Ehs Insight
13.19.5 ANVL
13.19.6 Intense Eye
13.19.7 Basicsafe
13.19.8 Engage EHS
13.20 Right To Win
14 Adjacent Markets
14.1 Introduction To Adjacent Markets
14.1.1 Limitations
14.1.2 Workplace Safety Market Ecosystem And Adjacent Markets
14.2 Environment Health And Safety Market
14.2.1 Adjacent Market: Environment Health And Safety Market, By Component
14.2.2 Adjacent Market: Environment Health And Safety Market, By Verticals
14.2.3 Adjacent Market: Environment Health And Safety Market, By Region
14.3 Industrial Safety Market
14.3.1 Adjacent Market: Industrial Safety Market, By Type
14.3.2 Adjacent Market: Industrial Safety Market, By Component
14.3.3 Adjacent Market: Industrial Safety Market, By Industry
14.3.4 Adjacent Market: Industrial Safety Market, By Region
14.4 Critical Infrastructure Protection Market
14.4.1 Adjacent Market: Critical Infrastructure Protection Market, By Component
14.4.2 Adjacent Market: Critical Infrastructure Protection Market, By Verticals
14.4.3 Adjacent Market: Critical Infrastructure Protection Market, By Region
15 Appendix
15.1 Discussion Guide
15.2 Knowledge Store
15.3 Available Customizations
15.4 Related Reports
15.5 Author Details
For more information about this report visit https://www.researchandmarkets.com/r/7de29c
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