Press Release Description

Global Workplace Safety Market Reaches USD 14.9 Billion in 2023, Predicts 15.1% CAGR Growth by 2030

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, cites MarkNtel Advisors in the recent research report. Strict industrial health & safety regulations, coupled with an increasing number of workplace injuries and fatalities, are driving the expansion of the Workplace Safety Market. Furthermore, the market's growth is being significantly enhanced by the implementation of drones, Augmented Reality, Virtual Reality, and Artificial Intelligence.

The presence of key industry players offering technological solutions for workplace safety in the region is a significant driver of industry growth. Further, one of the crucial factors contributing to the growth of the market revenue in this area is the reinforcement of safety standards & government regulations. Also, with this collaborative approach, commitments are highlighted to foster a secure & healthy environment within the rapidly evolving workplaces.

Besides, these advancements in technology provide enhanced security measures for organizations, thereby bolstering the market's potential for future growth, further states the research report, “Global Workplace Safety Market Analysis, 2024.”

Global Workplace Safety Market

Global Workplace Safety Market Segmentation Analysis

Healthcare to Showcase Significant Growth in the Market

Based on the End Use Industry, the market is further bifurcated into Construction & Engineering, Chemicals & Materials, Government & Defense, Healthcare, Food & Beverage, and Others. Among them, the Healthcare Sector is set to witness the most rapid growth rate on a global scale, fuelled by the continuous expansion of the industry. Healthcare, as a critical provider of health services, confronts numerous challenges, with workers facing a variety of safety and health hazards. The industry is responding to the increasing occurrence of workplace injuries and illnesses by making concerted efforts to address these growing concerns.

North America Showcased Substantial Growth Prospectus

The North American region is anticipated to capture the largest share of the Work Safety Market in the forecast years. As work-related injuries & illnesses become more prevalent in North American companies, businesses are increasingly adopting available products & solutions across the market. The Occupational Safety and Health Administration (OSHA) is responsible for monitoring safety and health conditions in the majority of private industries. Meanwhile, the Mine Safety and Health Administration (MSHA) concentrates on safeguarding the well-being of employees working in mines. These agencies play pivotal roles in enforcing regulations and standards to protect workers from hazards and ensure their safety in the workplace.

Global Workplace Safety Market Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including IBM, Honeywell, 3M, Hexagon AB, Appian, Microsoft, Bosch, Cority, Wolters Kluwer, Intelex, HCL Technologies, Amazon Web Services, Hitachi Solutions, Vector Solutions, HIS, and others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the Global Work Safety Market?
  3. What key factors would propel and impede the industry across the region?
  4. How has the industry been evolving in terms of geography, product & service adoption?
  5. How has the competition been shaping across various regions?
  6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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