The global industrial safety market size was USD 6.40 Billion in 2022 and is expected to register a steady revenue CAGR of 6.8% during the forecast period, according to latest analysis by Emergen Research. Rising demand for the integration of Artificial Intelligence (AI), Machine Learning (ML), and Internet of Things (IoT) into industrial safety systems and increasing number of accidents and more hazards use of cutting-edge technology, and need for effective management system are key factors driving market revenue growth.
Industrial safety provides improved commitment and satisfaction of employees through their industrial safety initiatives in industries resulting in a motivated environment for workers, which improved productivity and performance of workers and industries both. In addition, latest advancement of Artificial Intelligence (AI) is another key factor driving revenue growth of the market. This is due to its major advantages of hazard recognition and early prevention, real- time tracking, safety programs, and worker safety monitoring. As a result, major companies are collaborating to adopt this technology for increased industrial safety. For instance, on 22 June 2023, Kognition, a top supplier of AI software solutions announced its collaboration with Verizon Business as a part of its 5G Edge Partner Program. This will enable Verizon's 5G network, cutting-edge AI technology, and Amazon Web Services' (AWS) back-end support to be used to transform workplace safety and security in industries.
The global Industrial Safety market research report offers extensive statistical analysis to impart a deeper understanding of the Industrial Safety industry and the changing dynamics of the business sphere. The report covers key data about market share, market size, revenue growth, sales and distribution channel, current and emerging trends, and technological advancements. The report offers a comprehensive overview of the Industrial Safety industry to assist the companies engaged in the market to maximize the return on their investments and capitalize on the emerging growth prospects.
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Competitive Terrain:
The global Industrial Safety industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Honeywell International, Emerson Electric Co., Huawei Technologies Co., Schneider Electric, Siemens, ABB, Rockwell Automation, HIMA, Baker Huges Company, and Yokogawa Electric Corporation
Additional information offered by the report:
Along with a complete overview of the global Industrial Safety market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
The report elaborates on the global Industrial Safety market size and share governed by the major geographies.
It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
It further presents a detailed description of the company profiles of the key market contenders.
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Segments Covered in this report are:
Component Outlook (Revenue, USD Billion; 2019-2032)
Presence Sensing Safety Sensors
Safety Controllers/ Modules/ Relays
Programmable Safety Systems
Safety Interlock Switches
Emergency Stop Controls
Two- Hand Safety Controls
Type Outlook (Revenue, USD Billion; 2019-2032)
Machine Safety
Worker Safety
Product Outlook (Revenue, USD Billion; 2019-2032)
Emergency Shutdown Systems
Fire and Gas Monitoring Shutdown Systems
High Integrity Pressure Protection Systems
Burner Management Systems
Turbomachinery Control
Radical Highlights of the Industrial Safety Market Report:
Comprehensive overview of the Industrial Safety market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Industrial Safety market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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