Workplace Safety Market by Component, System, Application, Industry

List of Tables

[194 Pages Report] The Workplace Safety Market size was estimated at USD 19.02 billion in 2023 and expected to reach USD 20.76 billion in 2024, at a CAGR 9.85% to reach USD 36.72 billion by 2030.

The workplace safety market refers to the industry concerned with products, solutions, and services used to ensure health & safety in the work environment. The growth of the workplace safety market is influenced by heightened regulatory standards, the increasing awareness of workplace hazards, and the rising investment in safety protocols by organizations. The ongoing technological advancements including the Internet of Things, Artificial Intelligence (AI), and automation are also pivotal, enabling more effective and real-time monitoring of workplace environments. Economic growth and the expansion of the industrial sector further drive demand for workplace safety measures. However, high costs of advanced safety systems and the complexity of integration may hinder market growth, especially among small and medium-sized enterprises (SMEs). Additionally, compliance with diverse and ever-changing regulations across various geographic regions can be challenging for the market. Moreover, increased remote and hybrid work arrangements create opportunities for safety considerations that require innovative solutions. The initiatives focusing on employee health and wellness as part of workplace safety are also gaining traction, opening new avenues for services beyond traditional safety equipment.

KEY MARKET STATISTICS
Base Year [2023]	USD 19.02 billion
Estimated Year [2024]	USD 20.76 billion
Forecast Year [2030]	USD 36.72 billion
CAGR (%)	9.85%

Workplace Safety: Rising implementation of softwares for enhanced safety

Hardware components constitute the physical equipment used in maintaining and enhancing workplace safety, including personal protective equipment (PPE), surveillance cameras, sensors, and alarms. Organizations that require active, real-time monitoring and control of their workplace environment to prevent accidents or respond to emergencies tend to prioritize hardware solutions. Services in workplace safety encompass the consultancy, training, maintenance, and support that accompany hardware and software components. Software solutions for workplace safety cover a broad spectrum, from safety management systems to incident tracking and reporting tools. Software enables businesses to streamline safety operations, ensuring compliance and fostering a safety culture. Organizations with complex safety data management needs, such as those needing to document compliance across multiple sites or with detailed tracking of incidents, generally prefer sophisticated software systems.

System: Advancements in location monitoring systems

Access control and surveillance systems are designed to regulate view or use resources in a computing environment. The access control systems control access to physical and logical assets, and monitor activities to ensure the safety and security of the workplace. Environmental Health & Safety (EHS) programs are established to provide guidelines and standards for ensuring the health and safety of employees as it interacts with their working environment and to comply with applicable laws and regulations. Real-Time location monitoring systems use sensors and badges to track and visualize the location and movement of assets and personnel within the workplace in real-time, improving emergency response and staff management.

Application: Broad scope of applications in incident & emergency management

Asset tracking & management systems provide real-time monitoring and management of company assets. Asset tracking systems help prevent loss or theft, optimize asset utilization, and ensure safety compliance. Incident & emergency management systems aid in preparing, managing, and analyzing workplace incidents and emergencies to minimize risk and ensure fast response times. PPE detection systems use video analytics and AI to ensure that workers always wear the required safety equipment. Staff tracking solutions monitor the location and movement of employees within the workplace, ensuring their safety and enhancing productivity.

Industry: Rising necessity in construction sector

The chemical industry necessitates stringent safety measures owing to the potential risks associated with chemical processing and storage, including exposure to hazardous substances, fires, and explosions. Construction sites are inherently dangerous and implement fall protection systems for work at heights. Manufacturing industry safety concerns are broad, encompassing equipment safety, repetitive motion injuries, and potential exposure to harmful substances. Oil and gas sector safety is critical due to the high-risk operations, including drilling, production, and transportation of highly flammable materials. In the pharmaceutical industry, safety revolves around properly handling potentially hazardous substances, biohazard containment, and cleanliness standards. Safety in the transportation industry is focused on the well-being of drivers and passengers and properly handling goods, especially hazardous materials.

Regional Insights

In the Americas, the United States leads the way in the workplace safety market with robust regulations enforced by government bodies, driving the constant demand for innovation in safety equipment and systems. The initiatives across the Americas region include investments in IoT for real-time safety monitoring and AI for predictive hazard analysis. In the European region, the harmonization dictates consumer needs that meet the stringent requirements of market space. Research and innovation are thus focused on achieving compliance and enhancing safety through user-friendly designs. In Middle East countries, innovations that cater to the challenging environments and economic constraints of the region are in demand. China, Japan, and India form a significant part of the Asia-Pacific workplace safety market with increasing emphasis on manufacturing, patents in cutting-edge safety equipment, and the integration of 5G in monitoring systems, which denote aggressive approaches of the Asian countries to workplace safety.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Workplace Safety Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Workplace Safety Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Workplace Safety Market, highlighting leading vendors and their innovative profiles. These include 3M Company, ABB Ltd., Advanced Card Systems Ltd., Amazon Web Services, Inc., Appian Corporation, Atheer, Inc., Axis Communications AB, Brivo Systems, LLC, Cority Software Inc., General Electric Company, Hexagon AB, Honeywell International Inc., Identiv, Inc., International Business Machines Corporation, INX Software, Johnson Controls International PLC, Panasonic Holdings Corporation, Paxton Access Ltd., Realtime Biometrics, Robert Bosch GmbH, Schneider Electric SE, Siemens AG, StarTex Software LLC, Thales Group, Vector Solutions, and Wolters Kluwer N.V..

Market Segmentation & Coverage

This research report categorizes the Workplace Safety Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Hardware
  - RFID Tags & Readers
  - Safety Sensors
  - Wearables

Services
Software

System
- Access Control & Surveillance System
- Environmental Health & Safety
- Real-Time Location Monitoring

Application
- Asset Tracking & Management
- Incident & Emergency Management
- Personal Protective Equipment Detection
- Staff Tracking

Industry
- Chemicals
- Construction
- Manufacturing
- Oil & Gas
- Pharmaceuticals
- Transportation

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Workplace Safety Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Workplace Safety Market?

3. What are the technology trends and regulatory frameworks in the Workplace Safety Market?

4. What is the market share of the leading vendors in the Workplace Safety Market?

5. Which modes and strategic moves are suitable for entering the Workplace Safety Market?

Product Code: MRR-501246437B21

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing incidence of workplace hazards and their economic implications
  - 5.1.1.2. Regulatory requirements to enable safety protocols in the workplace
- 5.1.2. Restraints
  - 5.1.2.1. High cost of implementation and deployment of workplace safety systems and software
- 5.1.3. Opportunities
  - 5.1.3.1. Development of wearables, sensors, and workplace safety management software
  - 5.1.3.2. Rising emphasis on corporate social responsibility with key focus on employee safety
- 5.1.4. Challenges
  - 5.1.4.1. Technical limitations and inaccuracy of workplace safety systems
5.2. Market Segmentation Analysis
- 5.2.1. Workplace Safety: Rising implementation of softwares for enhanced safety
- 5.2.2. System: Advancements in location monitoring systems
- 5.2.3. Application: Broad scope of applications in incident & emergency management
- 5.2.4. Industry: Rising necessity in construction sector
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Workplace Safety Market, by Component

6.1. Introduction
6.2. Hardware
6.3. Services
6.4. Software

7. Workplace Safety Market, by System

7.1. Introduction
7.2. Access Control & Surveillance System
7.3. Environmental Health & Safety
7.4. Real-Time Location Monitoring

8. Workplace Safety Market, by Application

8.1. Introduction
8.2. Asset Tracking & Management
8.3. Incident & Emergency Management
8.4. Personal Protective Equipment Detection
8.5. Staff Tracking

9. Workplace Safety Market, by Industry

9.1. Introduction
9.2. Chemicals
9.3. Construction
9.4. Manufacturing
9.5. Oil & Gas
9.6. Pharmaceuticals
9.7. Transportation

10. Americas Workplace Safety Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Workplace Safety Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Workplace Safety Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Softserve Launches New Worker Safety Solution Powered By SAS Analytics To Reduce Workplace Injuries In Real-Time
- 13.3.2. BALCO Enhances Workplace Safety With AI-Based Monitoring Technology
- 13.3.3. Becklar Teams Up With Sunnova To Launch Innovative Workforce Safety Solution For Its Fieldworkers Nationwide
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio