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 report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others. It also offers key insights into financial standing, market reach, global position, gross profit margins, and investment and funding initiatives.
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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
The research study examines historic. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.
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Market Overview:
The report bifurcates the Industrial Safety market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
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
The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
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Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key reasons to buy the Global Industrial Safety Market report:
- The latest report comprehensively studies the global Industrial Safety market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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