The Asia Pacific Workplace Safety Market would witness market growth of 12.4% CAGR during the forecast period (2020-2026). The rate of workplace injuries affects the efficiency of every kind of businesses. Specifically, electrical hazards and fire hazards could harm the lives of industrial workers, seriously restricting the efficiency. The rising demand for workplace safety in several parts of the world has fueled the adoption of industrial safety. Industrial safety processes comprise of several levels of safety shutdown systems or emergency shutdown initiating protective action during an unexpected incident. A few of the other popular industrial safety components used are pressure protection systems, turbomachinery control solutions, fire and gas monitoring systems, and burner management systems.
The significantly increasing demand for industrial safety systems in the automotive, construction, and oil & gas sectors is a major factor impacting the growth of the market positively. The stringent execution of government regulations for developing a secure work culture has given an essential impetus to the adoption of industrial safety systems. Advancements in process manufacturing industries, particularly in developing economies, have resulted in the massive adoption of industrial safety mechanisms. For example, demand for industrial safety system is increased due to a quick surge in automotive manufacturing activities across several parts of the world.
Though, the uptake of industrial safety systems also poses some limitations. The absence of awareness regarding the advantages of workplace safety programs by several businesses in process industries, particularly in emerging markets, has impeded the demand for industrial safety. The market growth is expected to witness a decline due to the low training initiatives to spread awareness about occupational hazards and methods to counter them. However, an increasing number of businesses in end-use industries are making industrial safety a vital aspect of employee policies. Additionally, developing an easy mechanism to aid workers to report incidents of industrial accidents helps in achieving industrial safety.
Based on Component, the market is segmented into Hardware, Software and Services. Based on System, the market is segmented into Environmental Health & Safety, Access Control & Surveillance System, Real Time Location Monitoring and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Application, the market is segmented into Incident & Emergency Management, Asset Tracking & Management, Personal Protective Equipment Detection and Others. Based on End User, the market is segmented into Industrial and Commercial. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: Workplace Safety Market in Asia Pacific is expected to register a CAGR of 12.4% during the forecast period (2020-2026)
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.
By Component
By System
By Deployment Type
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