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Workplace Safety Market will Surpass USD 27.23 billion by 2028

Santosh Sargar



As per the report published by Fior Markets, the global workplace safety market is expected to grow from USD 12.26 billion in 2020 to USD 27.23 billion by 2028, at a CAGR of 10.49% during the forecast period 2021-2028.

Employees are driven to a job where there are no injuries or accidents. Employees are happier and more productive in such a setting. Employees and employers alike require a safe working environment. All employees have the right to work in a secure environment. Regardless matter the size of a firm, workplace safety is critical. Protection must be included in the workspaces of all businesses, large and small. Employees are kept safe, and industrial equipment is protected, thanks to well-implemented safety measures. Employers have the obligation and duty to safeguard and keep their employees safe. The first step in protecting employees is to identify workplace safety dangers and concerns. Ergonomics, the presence of dangerous substances, mechanical issues, noise pollution, restricted vision, the risks of falling, and weather-related hazards are all common workplace safety concerns. Human health issues, like aching backs and carpal tunnel syndrome, may be caused by non-ergonomic equipment. Chemicals have the potential to explode, inflicting burns or poisoning. Mechanical safety concerns might arise from the use of any machine in the workplace. Employees’ hearing and vision might be harmed by noise and visibility difficulties. Falls caused by poor housekeeping or neglect can result in severe injury or death; therefore, precautions to avoid them should be in place. Employees must be taught how to operate equipment safely when extreme weather conditions, such as ice, snow, and rain.

Every company should have a safety policy in place, established either by management or in collaboration with employees. Every employee has a responsibility to play in enforcing the company’s safety regulations. A safety manual should be produced that identifies safety concerns and spells out the penalties of failing to follow proper safety practices.

Industries are progressively returning to normalcy amid the COVID-19 pandemic, with the research and potential of earlier deployment of vaccinations for treating COVID-19. Due to obligatory requirements of social distance and ongoing personal care through sanitization to minimize even the tiniest possibility of COVID-19 spreading, this change in workplace safety is likely to increase. For easier corporate operations, businesses are urged to update bright clothes to respect the rules of social distance correctly. If two workers go too near to one other, the intelligent wearable will sound an alert, and both workers will be instructed to step away from each other. This will aid in the control of COVID-19. Employers are expected to include these regulations in their policies and to enforce them.

Key players operating in the workplace safety market are Honeywell, IBM Corporation, Hexagon AB, Appian, Bosch, Vector Solutions, Cortiy Software, Enablon, Intelex, and INX Software. To earn a significant market share in the workplace safety market, the key players now focus on adopting product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

  • In June 2020, Honeywell announced the launch of new Honeywell Safety Packs. The safety packs are designed to improve the safety of airline passengers and staff members while flying. These kits, which come in sealed packets and include gloves, masks, and hand wipes, are part of Honeywell’s more significant effort to help people stay safe in public areas and at work.

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Software segment dominated the market and held the largest market share of 37.64% in the year 2020

On the basis of components, the workplace safety market is segmented into software, hardware, services. The software component segment dominated the workplace safety market and held the largest market share of 37.64% in 2020. Companies must safeguard the safety of people and assets in today’s workplace by decreasing accidents, recognizing and managing safety hazards, and adhering to occupational safety requirements, all while keeping expenses under control. The safety management system aids businesses in developing their safety culture and safeguarding their workers across the board. The system gathers and analyses data, including real-time field data collected via mobile devices, to detect workplace dangers that might lead to accidents and illnesses. Furthermore, the software aids businesses by changing and guiding them toward the employee and environmental safety.

Environmental Health and Safety segment dominated the market and held the largest market share of 40.28% in the year 2020

On the basis of system type, the workplace safety market is segmented into access control and surveillance system, environmental health, and safety, Real-Time Location Monitoring. The environmental health and safety system type segment dominated the workplace safety market and held the largest market share of 40.28% in 2020. EHS encourages employees to work safely and healthily. It can also help you develop a good reputation, avoid potentially costly shutdowns, sickouts, or injuries, and avoid potentially expensive shutdowns, sickouts, or injuries. Employees can satisfy their intrinsic health requirements and work-related occupational exposures with the help of this system.  The environmental health and safety system assists businesses in streamlining the administration of employee medical information and activities, allowing them to spend less time on paperwork and more time providing care to their employees. With environmental health and safety systems, businesses may efficiently track their employees’ medical histories, schedule visits, and manage prescriptions and treatments.

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