LONDON--(BUSINESS WIRE)--The global smart personal protective equipment (PPE) market is expected to post a CAGR of over 16% during the period 2019-2023, according to the latest market research report by Technavio.
The work environments in factories, construction sites, mining fields, and other job sites can have health hazards and dangers, which pose a potential threat to the life of workers. Some of the other potential concerns for workers are paint, wood and dust particles, and harmful chemicals, which can cause breathing problems and other long-term health issues. Smart PPE protects workers from workplace hazards and injuries. Instances of noncompliance to the use of personal protective equipment are increasing, wherein, over 89% of the workers do not wear proper safety gear while working in a hazardous situation. Also, several losses, both direct and hidden costs, occur when a workplace accident occurs. Direct costs are realized at the time of accidents, whereas hidden costs are realized after the accident. Thus, the rising concerns about workers' safety are expected to fuel the adoption of smart PPE during the forecast period.
As per Technavio, the increasing demand for multipurpose equipment will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global smart personal protective equipment (PPE) market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global smart personal protective equipment (PPE) market: Increasing demand for multipurpose equipment
The current market for smart PPE is focusing on high-performance and reasonably priced products. Many customers prefer multifunctional protective equipment that serves more than one function. In general, smart PPEs are designed for the protection against hazards. However, workers in industries such as oil and gas and chemical may be exposed to multiple risks at a time. In such circumstances, workers and operators need multifunctional protective clothing that protects them from various hazards. Considerable R&D is being carried out to develop new materials that can be used for making multi-purpose protective clothing. Also, companies are focusing on nanotechnology and intelligent materials to create lightweight and more effective clothing materials. Thus, opening new avenues for smart PPE manufacturers, which will promote sustained market growth during the forecast period.
“The advantages of the loT, big data, and cloud computing are encouraging the manufacturers of PPE to invest in smart PPE. Wearable technology has become popular among PPE manufacturers owing to its ability in increasing productivity and safety as well as its provision of long-term savings by reducing the number of workplace accidents. Thus, such factors are expected to boost market growth during the forecast period,” says a senior analyst at Technavio.
Global smart personal protective equipment (PPE) market: Segmentation analysis
This market research report segments the global smart personal protective equipment (PPE) market by end-user (firefighting industry, manufacturing industry, construction industry, oil and gas industry, and mining industry) and geographical regions (North America, Europe, APAC, South America, and MEA).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to an increase in the employment rate, and growing foreign investments in various sectors of the economy.
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Market Landscape
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Market Sizing
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Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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