The Workplace Safety Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Workplace Safety Global Market Report 2024, The workplace safety market size has grown rapidly in recent years. It will grow from $13.57 billion in 2023 to $14.97 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to pandemic response, ergonomics and injury prevention, workplace mental health, data-driven safety solutions..
The workplace safety market size is expected to see rapid growth in the next few years. It will grow to $22.14 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to stringent regulatory landscape, sustained response to pandemic challenges, enhanced risk assessment and management, cultivation of safety-oriented work culture, persistent demand for personal protective equipment (ppe).. Major trends in the forecast period include resilience planning, collaborative safety platforms, sustainable and green practices, regulatory compliance, focus on health and wellness..
Rising occupational injuries and deaths are significantly contributing to 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 workplaces are leading to more companies deploying workplace safety equipment and practices that are in turn, driving the market. For instance, in December 2022, according to the Bureau of Labor Statistics, a US-based principal fact-finding agency for the federal government, there were 5,190 fatal work injuries recorded in the United States in 2021, an 8.9% increase from 4,764. The fatal work injury rate was 3.6 fatalities per 100,000 full-time equivalent (FTE) workers, up from 3.4 per 100,000 FTE in 2020. Therefore, rising occupational injuries and deaths are expected to propel future workplace safety market growth.
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The workplace safety market covered in this report is segmented –
1) By System: Environmental Health And Safety, Access Control And Surveillance System, Real Time Location Monitoring
2) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
3) By Application: Incident And Emergency Management, Asset Tracking And Management, Personal Protective Equipment Detection
4) By Industry: BFSI, IT And Telecom, Manufacturing And Automobile, Hospitality, Healthcare
Technological advancement is a key trend in the workplace safety market. Major companies operating in the workplace safety system market are developing various new technological innovations, such as Honeywell’s NIOSH-certified N95 respirator. For instance, in May 2022, Honeywell, a US-based company that that produces industrial, commercial, and residential control systems, aerospace, and automotive goods, speciality 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 workplace safety market report table of contents includes:
1. Executive Summary
2. Workplace Safety Market Characteristics
3. Workplace Safety Market Trends And Strategies
4. Workplace Safety Market – Macro Economic Scenario
5. Global Workplace Safety Market Size and Growth
………..
31. Global Workplace Safety Market Competitive Benchmarking
32. Global Workplace Safety Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Workplace Safety Market
34. Workplace Safety Market Future Outlook and Potential Analysis
35. Appendix
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