Dublin, June 04, 2024 (GLOBE NEWSWIRE) -- The "Global Workplace Safety Market by Component (Hardware, Software & Services), System (Real-Time Location Monitoring, Environmental Health & Safety, Access Control & Surveillance System), Application, Deployment Mode, End User and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The latest forecasts indicate a robust expansion of the global workplace safety market, with projections estimating growth from USD 15.7 billion in 2023 to USD 30.3 billion by 2028. This remarkable Compound Annual Growth Rate (CAGR) of 14.0% reflects the escalating focus on employee well-being and the stringent regulatory landscape led by entities like OSHA and the ILO. The market's evolution is further stimulated by advancements in Cloud, IoT, and mobile technologies, underscoring the intersection of innovation and safety.
Among the applications analyzed, Incident and Emergency Management has acquired the larger market share, playing an essential function in addressing risks and managing emergencies across various industries. The capacity of this segment to fortify EHS performance through detailed analysis and compliance with high standards propels its prominence in the market.
Sector-Specific Safety Challenges Propel Market Segments
Demonstrating the market’s diversity, other end users such as the automotive, retail, and education sectors contribute significantly to market growth. Each sector brings unique safety challenges and avenues for development, from the implementation of global strategies in automotive manufacturing to improving working conditions and ensuring staff well-being in the education sector.
Strategic Insights of the Workplace Safety Experts
Contributing insights from leading experts in the field emphasize the proactive approach companies are taking to improve workplace safety measures. The sector’s growth is reinforced by collective efforts spanning from Tier 1 to Tier 3 companies and is geographically diverse, with input from across North America, Europe, and Asia Pacific.
Comprehensive Market Insights Encourage Informed Decision-Making
As organizations seek to enhance safety protocols and implement cutting-edge solutions, insights from the workplace safety market can inform their strategic decision-making. Understanding the competitive landscape allows stakeholders to position themselves effectively, with in-depth knowledge about market drivers, opportunities, challenges, and the potential impact on their businesses.
The integral role of workplace safety in both protecting employees and ensuring operational efficiency remains as potent as ever, with technology at its core fueling the market's expansion. As society continues to embrace higher safety standards and technological advancements, stakeholders are poised to witness and contribute to the market's dynamic growth.
Forward-Looking Strategies Lead to Safer Work Environments
With increasing workplace safety concerns, rigorous regulations, and rapid technological advances, this growth spurs organizations to adopt forward-looking strategies that assure safer and more conscientious work environments. The comprehensive analysis of current trends and strategies aids industry leaders in navigating the evolving market landscape with foresight and precision.
In conclusion, the workplace safety market's burgeoning size is a testament to the collective commitment across industries to foster safer work practices and environments. As new technologies catalyze further growth, stakeholders worldwide are encouraged to look towards these findings to guide their workplace safety strategies into the future.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 335 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $15.7 Billion |
| Forecasted Market Value (USD) by 2028 | $30.3 Billion |
| Compound Annual Growth Rate | 14.0% |
| Regions Covered | Global |
Companies Profiled
- IBM
- Honeywell
- 3M
- Hexagon Ab
- Appian
- Microsoft
- Bosch
- Cority
- Wolters Kluwer
- Intelex
- Hcl Technologies
- Hsi
- Vector Solutions
- Inx Software
- Arventa
- Amazon Web Services (AWS)
- Hitachi Solutions
- Damotech
- Ehs Insight
- Ecoonline
- Guardhat
- Strongarm Tech
- Kinetic
- Anvl
- Intenseye
For more information about this report visit https://www.researchandmarkets.com/r/iaen6s
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