Worldwide Workplace Safety Industry to 2026 - Featuring IBM, Honeywell International and 3M Among Others
2021-03-02
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Dublin, March 02, 2021 (GLOBE NEWSWIRE) -- The "Global Workplace Safety Market By Component, By System, By Deployment Type, By Application, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Workplace Safety Market size is expected to reach $21.3 billion by 2026, rising at a market growth of 10.6% CAGR during the forecast period. Workers' safety has gained considerable attention due to the increasing safety concerns as a result of high number of causalities at the workplace. By adopting safety systems, it becomes possible to prevent these accidents.
The workplace safety systems safeguard the workers from several situations/scenarios that could potentially be fatal. Any explosion, falling from a height, low visibility, and high noise are included in these scenarios/situations. Strict occupational health & safety norms mandating unavoidable use of these systems in industries & offices and quick urbanization are the aspects that are expected to boost the adoption of the workplace safety systems market.
The workplace safety system market is fueled by the growing concerns with respect to the safety of workers. In addition to it, various other aspects such as rising demand from the oil & gas, manufacturing, and chemical industries are anticipated to fuel the development of the workplace safety system market. Moreover, the regulation mandated by NIOSH (National Institute of Occupational Safety and Health), NFPA (National Fire Protection Association), and OSHA (Occupational Safety and Health Administration) is boosting the industries for necessary utilization of these safety systems which, as a result, will fuel the development of the workplace safety systems market.
With the creation and probability of sooner distribution of vaccines of COVID-19, industries are gradually coming to normalcy during the COVID-19 pandemic. This transition of workplace safety is anticipated to expand due to compulsory requirements of social distancing as well as consistent personal care through sanitization to eradicate even the smallest possibility of the spread of COVID-19. Organizations are anticipated to enhance smart clothing to rigorously follow the regulations of social distancing and to ensure better business functioning.
By Component
Based on Component, the market is segmented into Hardware, Software and Services. The Hardware market dominated the Global Workplace Safety Market by Component 2019, growing at a CAGR of 9.7 % during the forecast period. The Services market is expected to showcase a CAGR of 13.2% during (2020 - 2026).
By System
Based on System, the market is segmented into Environmental Health & Safety, Access Control & Surveillance System, Real Time Location Monitoring and Others. Based on the system, the real-time location monitoring systems segment is estimated to acquire the largest revenue share over the forecast years. Real-time location monitoring systems (RTLMS) recognize and monitor the location of objects and people in real-time within a specified region and are utilized for several purposes like asset tracking, personnel or staff tracking, proximity tracking, and on-site operations monitoring.
By Deployment Type
Based on Deployment Type, the market is segmented into On-premise and Cloud. The cloud segment is estimated to grow at the highest CAGR over the forecast years. The cloud deployment provides superior control of the data, combined with the low risk of data loss and concerns associated with regulatory compliance. The cloud deployment offers companies with advantages such as superior scalability, speed, 24*7 service, and better IT security. The adoption of cloud-based solutions is increasing at a fast pace, and this trend is anticipated to witness a surge over the forecast years due to the broad range of functionalities and primary features these solutions offer.
By Application
Based on Application, the market is segmented into Incident & Emergency Management, Asset Tracking & Management, Personal Protective Equipment Detection and Others. The incident & emergency management segment is expected to gain a significant revenue share during the forecast years. The U.S. Bureau of Labor Statistics obtained 2.8 million reports of non-lethal workplace-related injuries or illnesses in 2018. As per the United States Department of Labor Occupational Safety and Health Administration (OSHA), on average, 14 deaths happen daily in the workplace.
By End User
Based on End User, the market is segmented into Industrial and Commercial. The industrial end-user segment is estimated to procure the highest market share during the forecast years. The industrial segment consists of aerospace and defense, mining, construction, oil and gas, automotive, pharmaceuticals, semiconductor, and energy and power. The adoption of workplace safety systems is more on these industries so that they can comply with guidelines and instructions regulated by OSHA. In energy and utilities, the installation of EHS systems is high due to the evolving EHS laws, regulations, and standards.
By Region
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America is expected to garner the maximum share of the workplace safety market during the forecast period. The region is home to the most prominent and innovative technology providers and occupied with prosperous and tech-savvy consumers who demands advanced workplace safety solutions.
The major strategies followed by the market participants are Product Launches and Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation is the major forerunner in the Workplace Safety Market. Companies such as Honeywell International, Inc., Cority Software, Inc., Hexagon AB, IBM Corporation, Amazon.com, Inc., and Panasonic Corporation are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Honeywell International, Inc., 3M Company, Hexagon AB, Appian Corporation, Microsoft Corporation, Robert Bosch GmbH, Amazon.com, Inc., Panasonic Corporation, and Cority Software, Inc.
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Workplace Safety Market, by Component
1.4.2 Global Workplace Safety Market, by System
1.4.3 Global Workplace Safety Market, by Deployment Type
1.4.4 Global Workplace Safety Market, by Application
1.4.5 Global Workplace Safety Market, by End User
1.4.6 Global Workplace Safety Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2018, May - 2020, Dec) Leading Players
Chapter 4. Global Workplace Safety Market by Component
4.1 Global Workplace Safety Hardware Market by Region
4.2 Global Workplace Safety Software Market by Region
4.3 Global Workplace Safety Services Market by Region
Chapter 5. Global Workplace Safety Market by System
5.1 Global Workplace Safety Real Time Location Monitoring Market by Region
5.2 Global Workplace Safety Access Control & Surveillance System Market by Region
5.3 Global Workplace Safety Environmental Health & Safety Market by Region
5.4 Global Other System Workplace Safety Market by Region
Chapter 6. Global Workplace Safety Market by Deployment Type
6.1 Global On-premise Workplace Safety Market by Region
6.2 Global Cloud Workplace Safety Market by Region
Chapter 7. Global Workplace Safety Market by End User
7.1 Global Industrial Workplace Safety Market by Region
7.2 Global Commercial Workplace Safety Market by Region
Chapter 8. Global Workplace Safety Market by Application
8.1 Global Incident & Emergency Management Workplace Safety Market by Region
8.2 Global Asset Tracking & Management Workplace Safety Market by Region
8.3 Global Personal Protective Equipment Detection Workplace Safety Market by Region
8.4 Global Others Workplace Safety Market by Region
Chapter 9. Global Workplace Safety Market by Region
9.1 North America Workplace Safety Market
9.2 Europe Workplace Safety Market
9.3 Asia Pacific Workplace Safety Market
9.4 LAMEA Workplace Safety Market
Chapter 10. Company Profiles
10.1 IBM Corporation
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Regional & Segmental Analysis
10.1.4 Research & Development Expenses
10.1.5 Recent strategies and developments:
10.1.5.1 Partnerships, Collaborations, and Agreements:
10.1.5.2 Product Launches and Product Expansions:
10.1.6 SWOT Analysis
10.2 Honeywell International, Inc.
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Regional & Segmental Analysis
10.2.4 Research & Development Expenses
10.2.5 Recent strategies and developments:
10.2.5.1 Partnerships, Collaborations, and Agreements:
10.2.5.2 Product Launches and Product Expansions:
10.2.6 SWOT Analysis
10.3 3M Company
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expense
10.3.5 SWOT Analysis
10.4 Hexagon AB
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Regional & Segmental Analysis
10.4.4 Research & Development Expenses
10.4.5 Recent strategies and developments:
10.4.5.1 Partnerships, Collaborations, and Agreements:
10.4.5.2 Acquisition and Mergers:
10.5 Appian Corporation
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Regional Analysis
10.5.4 Research & Development Expense
10.5.5 Recent strategies and developments:
10.5.5.1 Partnerships, Collaborations, and Agreements:
10.5.5.2 Product Launches and Product Expansions:
10.6 Microsoft Corporation
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental and Regional Analysis
10.6.4 Research & Development Expenses
10.6.5 Recent strategies and developments:
10.6.5.1 Partnerships, Collaborations, and Agreements:
10.6.6 SWOT Analysis
10.7 Robert Bosch GmbH
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Segmental and Regional Analysis
10.7.4 Research & Development Expense
10.7.5 Recent strategies and developments:
10.7.5.1 Partnerships, Collaborations, and Agreements:
10.7.6 SWOT Analysis
10.8 Amazon.com, Inc.
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Segmental and Regional Analysis
10.8.4 Recent strategies and developments:
10.8.4.1 Partnerships, Collaborations, and Agreements:
10.8.4.2 Product Launches and Product Expansions:
10.8.5 SWOT Analysis
10.9 Panasonic Corporation
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Segmental Analysis
10.9.4 Research & Development Expense
10.9.5 Recent strategies and developments:
10.9.5.1 Product Launches and Product Expansions:
10.9.6 SWOT Analysis
10.10. Cority Software, Inc. (Thoma Bravo)
10.10.1 Company Overview
10.10.2 Recent strategies and developments:
10.10.2.1 Partnerships, Collaborations, and Agreements:
10.10.2.2 Product Launches and Product Expansions:
10.10.2.3 Acquisition and Mergers:
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