Allied Market Research published a new report, titled, ” Global Workplace Safety Market Share Growing at a CAGR of 12.2% Projected to Reach USD 39 Billion by 2031. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global workplace safety market was valued at $12.8 billion in 2021, and is projected to reach $39 billion by 2031, growing at a CAGR of 12.2% from 2022 to 2031.
The research provides detailed segmentation of the global workplace safety market based on component, system, deployment, application, end user, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on component, the hardware segment held the highest share in 2021, accounting for more than two-fifths of the global workplace safety market, and is expected to continue its leadership status during the forecast period. However, the services segment is expected to register the highest CAGR of 13.8% from 2022 to 2031.
Based on system, the environmental health and safety segment accounted for the highest share in 2021, contributing to more than two-fifths of the global workplace safety market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the real time location monitoring segment is expected to manifest the highest CAGR of 14.3% from 2022 to 2031.
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Based on application, the incident and emergency management segment accounted for the highest share in 2021, holding more than one-third of the global workplace safety market. . However, the personal tracking segment is expected to hold its leadership status in terms of revenue during the forecast period and grow at the highest CAGR of 14.4% during the forecast period.
Based on deployment mode, the on-premise segment accounted for the highest share in 2021, contributing to nearly three-fifths of the global workplace safety market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the cloud segment is expected to manifest the highest CAGR of 13.1% from 2022 to 2031.
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Based on region, North America held the largest share in 2021, contributing to around one-third of the global workplace safety market share. In addition, the Asia Pacific region is projected to maintain its dominant share in terms of revenue in 2031 and is expected to manifest the fastest CAGR of 15.4% during the forecast period.
Leading market players of the global workplace safety market analyzed in the research include HCL Technologies Ltd, inx software, Microsoft Corporation, hexagon ab, Wolters Kluwer, vector solutions, Bosch Ltd, IBM CORPORATION, Honeywell International Inc., intelex.
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Covid-19 Scenario-
● The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global workplace safety market, owing to implementation of global lockdown which resulted in the adoption of work-from-home culture across the globe.
● The market is expected to grow rapidly even after the pandemic.
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